Shares of Speedway Motorsports, Inc. (NYSE:TRK) have received a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.
Analysts have set a 12-month consensus price target of $16.00 for the company and are predicting that the company will post $0.69 earnings per share for the current quarter, according to Zacks. Zacks has also given Speedway Motorsports an industry rank of 106 out of 256 based on the ratings given to related companies.
TRK has been the topic of several research analyst reports. TheStreet upgraded Speedway Motorsports from a “c+” rating to a “b” rating in a research report on Monday, February 4th. Zacks Investment Research downgraded Speedway Motorsports from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. Finally, ValuEngine upgraded Speedway Motorsports from a “sell” rating to a “hold” rating in a research report on Monday, February 4th.
Several institutional investors have recently made changes to their positions in TRK. Meeder Asset Management Inc. lifted its position in shares of Speedway Motorsports by 186.8% in the fourth quarter. Meeder Asset Management Inc. now owns 1,827 shares of the company’s stock valued at $30,000 after acquiring an additional 1,190 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Speedway Motorsports by 285.7% in the first quarter. BNP Paribas Arbitrage SA now owns 2,638 shares of the company’s stock valued at $38,000 after acquiring an additional 1,954 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Speedway Motorsports in the fourth quarter valued at about $55,000. Bessemer Group Inc. lifted its position in shares of Speedway Motorsports by 97.4% in the fourth quarter. Bessemer Group Inc. now owns 7,500 shares of the company’s stock valued at $122,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Carroll Financial Associates Inc. lifted its position in shares of Speedway Motorsports by 30.8% in the first quarter. Carroll Financial Associates Inc. now owns 8,546 shares of the company’s stock valued at $123,000 after acquiring an additional 2,013 shares in the last quarter. Institutional investors and hedge funds own 21.59% of the company’s stock.
NYSE:TRK opened at $18.18 on Tuesday. Speedway Motorsports has a 52-week low of $13.47 and a 52-week high of $18.84. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.58 and a quick ratio of 1.48. The stock has a market cap of $752.63 million, a price-to-earnings ratio of 18.18, a P/E/G ratio of -9.70 and a beta of 1.05.
Speedway Motorsports (NYSE:TRK) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.29. Speedway Motorsports had a return on equity of 5.62% and a net margin of 10.63%. The business had revenue of $107.89 million during the quarter, compared to analyst estimates of $74.35 million. Equities research analysts predict that Speedway Motorsports will post 0.95 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be given a $0.15 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.30%. Speedway Motorsports’s payout ratio is 60.00%.
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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