Speedway Motorsports, Inc. (NYSE:TRK) has earned an average broker rating score of 3.00 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation.
Brokers have set a 1 year consensus price target of $19.00 for the company and are expecting that the company will post $0.33 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Speedway Motorsports an industry rank of 202 out of 255 based on the ratings given to its competitors.
Several research firms have weighed in on TRK. ValuEngine upgraded shares of Speedway Motorsports from a “sell” rating to a “hold” rating in a report on Wednesday, June 6th. Zacks Investment Research upgraded shares of Speedway Motorsports from a “strong sell” rating to a “hold” rating in a report on Thursday, June 28th.
TRK opened at $18.00 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.32. Speedway Motorsports has a 1-year low of $16.46 and a 1-year high of $23.47. The firm has a market cap of $719.41 million, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 2.99 and a beta of 1.00.
Speedway Motorsports (NYSE:TRK) last released its quarterly earnings data on Wednesday, August 1st. The company reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.04). Speedway Motorsports had a return on equity of 4.07% and a net margin of 33.47%. The business had revenue of $165.85 million for the quarter, compared to analyst estimates of $178.21 million. equities research analysts anticipate that Speedway Motorsports will post 1.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 5th. Stockholders of record on Wednesday, August 15th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, August 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.33%. Speedway Motorsports’s dividend payout ratio is currently 65.93%.
Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of Speedway Motorsports by 30.8% in the 2nd quarter. Renaissance Technologies LLC now owns 388,700 shares of the company’s stock worth $6,748,000 after purchasing an additional 91,600 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of Speedway Motorsports in the 2nd quarter worth about $553,000. Dimensional Fund Advisors LP raised its position in shares of Speedway Motorsports by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,222,100 shares of the company’s stock worth $55,936,000 after purchasing an additional 20,728 shares during the last quarter. BlackRock Inc. raised its position in shares of Speedway Motorsports by 2.0% in the 2nd quarter. BlackRock Inc. now owns 719,068 shares of the company’s stock worth $12,483,000 after purchasing an additional 13,784 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Speedway Motorsports by 16.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 62,844 shares of the company’s stock worth $1,091,000 after purchasing an additional 8,896 shares during the last quarter. Institutional investors own 21.63% of the company’s stock.
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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