Shares of Speedway Motorsports, Inc. (NYSE:TRK) have been given a consensus broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation.
Analysts have set a twelve-month consensus price objective of $19.00 for the company and are expecting that the company will post $0.82 EPS for the current quarter, according to Zacks. Zacks has also given Speedway Motorsports an industry rank of 166 out of 255 based on the ratings given to its competitors.
A number of equities analysts recently issued reports on TRK shares. ValuEngine raised Speedway Motorsports from a “sell” rating to a “hold” rating in a report on Wednesday, June 6th. Zacks Investment Research lowered Speedway Motorsports from a “buy” rating to a “hold” rating in a report on Tuesday, March 27th.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Allianz Asset Management GmbH boosted its holdings in Speedway Motorsports by 9.3% in the 1st quarter. Allianz Asset Management GmbH now owns 121,335 shares of the company’s stock valued at $2,162,000 after purchasing an additional 10,308 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Speedway Motorsports by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,201,372 shares of the company’s stock valued at $57,048,000 after purchasing an additional 37,126 shares in the last quarter. Northern Trust Corp boosted its holdings in Speedway Motorsports by 2.3% in the 1st quarter. Northern Trust Corp now owns 159,092 shares of the company’s stock valued at $2,835,000 after purchasing an additional 3,595 shares in the last quarter. KBC Group NV boosted its holdings in Speedway Motorsports by 153.2% in the 1st quarter. KBC Group NV now owns 5,822 shares of the company’s stock valued at $104,000 after purchasing an additional 3,523 shares in the last quarter. Finally, Bailard Inc. purchased a new stake in Speedway Motorsports in the 1st quarter valued at approximately $201,000. 21.52% of the stock is currently owned by institutional investors.
Shares of TRK opened at $17.55 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.23 and a debt-to-equity ratio of 0.24. Speedway Motorsports has a 1 year low of $16.46 and a 1 year high of $23.47. The company has a market capitalization of $718.93 million, a price-to-earnings ratio of 19.29, a PEG ratio of 2.94 and a beta of 1.02.
Speedway Motorsports (NYSE:TRK) last released its quarterly earnings results on Thursday, April 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.08). Speedway Motorsports had a return on equity of 3.89% and a net margin of 31.53%. The company had revenue of $74.36 million for the quarter, compared to analysts’ expectations of $79.43 million. sell-side analysts anticipate that Speedway Motorsports will post 1.09 earnings per share for the current fiscal year.
Speedway Motorsports declared that its board has initiated a share buyback program on Wednesday, March 7th that authorizes the company to buyback 1,000,000 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 5th. Investors of record on Tuesday, May 15th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date was Monday, May 14th. Speedway Motorsports’s dividend payout ratio is currently 65.93%.
About Speedway Motorsports
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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