Shares of Speedway Motorsports, Inc. (NYSE:TRK) have been given an average broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation.
Brokers have set a one year consensus price objective of $19.00 for the company and are anticipating that the company will post $0.82 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Speedway Motorsports an industry rank of 108 out of 255 based on the ratings given to its competitors.
TRK has been the topic of several recent analyst reports. Zacks Investment Research cut Speedway Motorsports from a “buy” rating to a “hold” rating in a research report on Tuesday, March 27th. ValuEngine cut Speedway Motorsports from a “hold” rating to a “sell” rating in a research report on Tuesday, May 22nd.
Shares of Speedway Motorsports traded up $0.41, hitting $17.53, during trading on Friday, Marketbeat.com reports. 61,856 shares of the company’s stock traded hands, compared to its average volume of 46,013. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.23 and a quick ratio of 1.14. Speedway Motorsports has a 1 year low of $16.46 and a 1 year high of $23.47. The stock has a market capitalization of $718.12 million, a PE ratio of 19.26, a price-to-earnings-growth ratio of 2.94 and a beta of 1.04.
Speedway Motorsports (NYSE:TRK) last released its quarterly earnings data on Thursday, April 26th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.08). Speedway Motorsports had a net margin of 31.53% and a return on equity of 3.89%. The business had revenue of $74.36 million for the quarter, compared to analysts’ expectations of $79.43 million. sell-side analysts expect that Speedway Motorsports will post 1.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 5th. Shareholders of record on Tuesday, May 15th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, May 14th. This represents a $0.60 annualized dividend and a yield of 3.42%. Speedway Motorsports’s payout ratio is 65.93%.
Speedway Motorsports declared that its Board of Directors has initiated a stock repurchase program on Wednesday, March 7th that permits the company to repurchase 1,000,000 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
Large investors have recently made changes to their positions in the business. KBC Group NV boosted its position in Speedway Motorsports by 153.2% in the first quarter. KBC Group NV now owns 5,822 shares of the company’s stock worth $104,000 after purchasing an additional 3,523 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in Speedway Motorsports in the fourth quarter worth about $134,000. Bailard Inc. purchased a new position in Speedway Motorsports in the first quarter worth about $201,000. Ramsey Quantitative Systems purchased a new position in Speedway Motorsports in the fourth quarter worth about $275,000. Finally, Investors Research Corp purchased a new position in Speedway Motorsports in the fourth quarter worth about $282,000. 21.52% of the stock is currently owned by institutional investors and hedge funds.
Speedway Motorsports Company Profile
Speedway Motorsports, Inc, through its subsidiaries, promotes, markets, and sponsors motorsports activities in the United States. The company owns and operates eight racing facilities, including Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Sonoma Raceway, and Texas Motor Speedway racing facilities.
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