Shares of Speedway Motorsports, Inc. (NYSE:TRK) have been assigned an average broker rating score of 3.00 (Hold) from the three brokers that cover the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold rating.
Brokers have set a twelve-month consensus target price of $18.25 for the company and are expecting that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also given Speedway Motorsports an industry rank of 163 out of 265 based on the ratings given to related companies.
Several research analysts have issued reports on TRK shares. Zacks Investment Research raised shares of Speedway Motorsports from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Saturday, October 28th. TheStreet cut shares of Speedway Motorsports from a “b” rating to a “c+” rating in a report on Wednesday, October 25th.
Shares of Speedway Motorsports (TRK) traded down $0.32 during midday trading on Thursday, reaching $18.87. 21,367 shares of the company were exchanged, compared to its average volume of 39,230. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.33 and a current ratio of 1.42. The stock has a market cap of $773.07, a PE ratio of 20.29, a P/E/G ratio of -5.55 and a beta of 0.87. Speedway Motorsports has a one year low of $16.80 and a one year high of $23.47.
Speedway Motorsports (NYSE:TRK) last issued its earnings results on Wednesday, October 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.06). The firm had revenue of $137.61 million during the quarter, compared to analysts’ expectations of $141.79 million. Speedway Motorsports had a return on equity of 4.79% and a net margin of 7.26%. research analysts anticipate that Speedway Motorsports will post 0.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were paid a $0.15 dividend. The ex-dividend date was Thursday, November 9th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.18%. Speedway Motorsports’s dividend payout ratio is presently 70.59%.
In other news, Director Mark M. Gambill sold 12,000 shares of Speedway Motorsports stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $20.00, for a total value of $240,000.00. Following the completion of the sale, the director now directly owns 40,428 shares in the company, valued at $808,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 72.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System grew its position in Speedway Motorsports by 9.7% during the third quarter. California Public Employees Retirement System now owns 37,396 shares of the company’s stock valued at $797,000 after buying an additional 3,296 shares during the period. Allianz Asset Management GmbH grew its position in Speedway Motorsports by 531.3% during the third quarter. Allianz Asset Management GmbH now owns 114,361 shares of the company’s stock valued at $2,435,000 after buying an additional 96,245 shares during the period. OxFORD Asset Management LLP bought a new stake in Speedway Motorsports during the third quarter valued at approximately $560,000. Trexquant Investment LP bought a new stake in Speedway Motorsports during the third quarter valued at approximately $343,000. Finally, Macquarie Group Ltd. bought a new stake in Speedway Motorsports during the third quarter valued at approximately $279,000. Institutional investors own 21.18% of the company’s stock.
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Speedway Motorsports Company Profile
Speedway Motorsports, Inc (SMI), through its operating subsidiaries, is a promoter, marketer and sponsor of motorsports activities in the United States. The Company’s operations consist of promoting, marketing and sponsoring motorsports racing events, merchandising and other related activities conducted at its various speedway facilities located in the United States.
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