Speedway Motorsports Downgraded to Hold at TheStreet (TRK)
Speedway Motorsports (NYSE:TRK) was downgraded by equities researchers at TheStreet from a “buy” rating to a “hold” rating in a research report issued on Thursday, AnalystRatingsNetwork.com reports.
The analysts wrote, “Speedway Motorsports (TRK) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, solid stock price performance and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow.”
Speedway Motorsports (NYSE:TRK) traded up 1.51% on Thursday, hitting $18.272. 1,636 shares of the company’s stock traded hands. Speedway Motorsports has a 1-year low of $14.18 and a 1-year high of $19.86. The stock has a 50-day moving average of $18.68 and a 200-day moving average of $17.92. The company’s market cap is $756.5 million.
Speedway Motorsports (NYSE:TRK) last released its earnings data on Wednesday, July 31st. The company reported $0.61 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.63 by $0.02. The company had revenue of $176.80 million for the quarter, compared to the consensus estimate of $181.80 million. Analysts expect that Speedway Motorsports will post $1.00 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of Speedway Motorsports from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday, August 7th. They now have a $17.40 price target on the stock. Analysts at Thomson Reuters/Verus downgraded shares of Speedway Motorsports from a “hold” rating to a “sell” rating in a research note to investors on Tuesday, May 28th.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 6th. Investors of record on Friday, August 16th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Wednesday, August 14th.
Speedway Motorsports, Inc (NYSE:TRK) is a promoter, marketer and sponsor of motorsports activities in the United States.
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