Speedway Motorsports, Inc. (NYSE:TRK) has been given a consensus broker rating score of 3.00 (Hold) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold recommendation.
Brokerages have set a one year consensus price objective of $17.00 for the company and are anticipating that the company will post $0.32 EPS for the current quarter, according to Zacks. Zacks has also given Speedway Motorsports an industry rank of 178 out of 265 based on the ratings given to related companies.
TRK has been the topic of several recent research reports. Zacks Investment Research cut shares of Speedway Motorsports from a “hold” rating to a “sell” rating in a research note on Saturday, July 15th. BidaskClub upgraded shares of Speedway Motorsports from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. TheStreet upgraded shares of Speedway Motorsports from a “c+” rating to a “b” rating in a research note on Wednesday. Finally, Macquarie upgraded shares of Speedway Motorsports from an “underperform” rating to a “neutral” rating in a research note on Friday, May 5th. They noted that the move was a valuation call.
Shares of Speedway Motorsports (NYSE:TRK) opened at 21.23 on Thursday. Speedway Motorsports has a 52-week low of $16.62 and a 52-week high of $22.29. The stock has a 50 day moving average of $18.43 and a 200 day moving average of $19.25. The company has a market cap of $871.36 million, a price-to-earnings ratio of 22.18 and a beta of 0.81.
Speedway Motorsports (NYSE:TRK) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.05. Speedway Motorsports had a net margin of 7.66% and a return on equity of 5.33%. The firm had revenue of $179.25 million for the quarter. On average, equities research analysts expect that Speedway Motorsports will post $0.96 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Friday, August 11th. Speedway Motorsports’s payout ratio is 62.50%.
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A number of large investors have recently added to or reduced their stakes in TRK. American International Group Inc. boosted its stake in Speedway Motorsports by 7.4% in the first quarter. American International Group Inc. now owns 7,255 shares of the company’s stock worth $137,000 after buying an additional 498 shares during the last quarter. Spark Investment Management LLC purchased a new stake in Speedway Motorsports during the first quarter worth approximately $194,000. Algert Global LLC purchased a new stake in Speedway Motorsports during the first quarter worth approximately $211,000. Alambic Investment Management L.P. boosted its stake in Speedway Motorsports by 61.3% in the first quarter. Alambic Investment Management L.P. now owns 15,805 shares of the company’s stock worth $298,000 after buying an additional 6,005 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in Speedway Motorsports during the first quarter worth approximately $433,000. Institutional investors own 21.93% of the company’s stock.
About Speedway Motorsports
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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