Shares of Speedway Motorsports, Inc. (NYSE:TRK) have been assigned a consensus broker rating score of 5.00 (Strong Sell) from the one analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong sell recommendation. Speedway Motorsports’ rating score has declined by 66.7% from 90 days ago as a result of various analysts’ ratings changes.
Brokerages have set a 1 year consensus price objective of $16.00 for the company and are anticipating that the company will post $0.47 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Speedway Motorsports an industry rank of 102 out of 256 based on the ratings given to related companies.
A number of brokerages have recently issued reports on TRK. Wells Fargo & Co reaffirmed a “sell” rating on shares of Bausch Health Companies in a research report on Monday, July 15th. Zacks Investment Research downgraded Hallmark Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th. Finally, ValuEngine downgraded Viewray from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th.
Several hedge funds have recently modified their holdings of TRK. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Speedway Motorsports during the second quarter worth approximately $315,000. State of New Jersey Common Pension Fund D bought a new position in Speedway Motorsports during the second quarter worth $1,484,000. O Shaughnessy Asset Management LLC increased its position in Speedway Motorsports by 61.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 26,383 shares of the company’s stock worth $382,000 after acquiring an additional 10,022 shares during the period. Shell Asset Management Co. bought a new position in Speedway Motorsports during the first quarter worth $317,000. Finally, BNP Paribas Arbitrage SA increased its position in Speedway Motorsports by 285.7% during the first quarter. BNP Paribas Arbitrage SA now owns 2,638 shares of the company’s stock worth $38,000 after acquiring an additional 1,954 shares during the period. 21.15% of the stock is currently owned by institutional investors and hedge funds.
NYSE:TRK traded up $0.01 on Friday, reaching $19.81. 41,875 shares of the company’s stock traded hands, compared to its average volume of 44,243. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.48 and a current ratio of 1.58. The stock’s 50-day moving average is $18.62. The stock has a market capitalization of $809.40 million, a price-to-earnings ratio of 19.81 and a beta of 0.94. Speedway Motorsports has a 12 month low of $13.47 and a 12 month high of $19.88.
Speedway Motorsports (NYSE:TRK) last announced its 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. The business had revenue of $107.89 million during the quarter, compared to analyst estimates of $74.35 million. Speedway Motorsports had a return on equity of 5.62% and a net margin of 10.63%. As a group, sell-side analysts expect that Speedway Motorsports will post 0.94 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Wednesday, August 14th. Speedway Motorsports’s payout ratio is presently 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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