$0.63 EPS Expected for Speedway Motorsports, Inc. (TRK) This Quarter
Analysts expect Speedway Motorsports, Inc. (NYSE:TRK) to post earnings per share (EPS) of $0.63 for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Speedway Motorsports’ earnings. Speedway Motorsports posted earnings of $0.60 per share during the same quarter last year, which suggests a positive year over year growth rate of 5%. The business is expected to issue its next earnings report on Wednesday, July 26th.
On average, analysts expect that Speedway Motorsports will report full year earnings of $0.98 per share for the current financial year, with EPS estimates ranging from $0.93 to $1.03. For the next fiscal year, analysts forecast that the firm will post earnings of $0.99 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Speedway Motorsports.
Speedway Motorsports (NYSE:TRK) last announced its quarterly earnings data on Friday, April 28th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.02. Speedway Motorsports had a net margin of 7.22% and a return on equity of 4.94%. The firm had revenue of $80.33 million during the quarter.
TRK has been the topic of several research reports. Macquarie raised Speedway Motorsports from an “underperform” rating to a “neutral” rating in a research report on Friday, May 5th. They noted that the move was a valuation call. TheStreet downgraded Speedway Motorsports from a “b-” rating to a “c+” rating in a research note on Tuesday, May 23rd. Finally, Zacks Investment Research raised Speedway Motorsports from a “sell” rating to a “hold” rating in a research note on Wednesday, June 7th.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. increased its position in Speedway Motorsports by 2.1% in the first quarter. Prudential Financial Inc. now owns 88,976 shares of the company’s stock valued at $1,676,000 after buying an additional 1,793 shares during the period. Brandes Investment Partners LP increased its position in Speedway Motorsports by 22.4% in the first quarter. Brandes Investment Partners LP now owns 132,806 shares of the company’s stock valued at $2,502,000 after buying an additional 24,302 shares during the period. Alambic Investment Management L.P. increased its position 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 valued at $298,000 after buying an additional 6,005 shares during the period. Bank of New York Mellon Corp increased its position in Speedway Motorsports by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 209,251 shares of the company’s stock valued at $3,942,000 after buying an additional 7,454 shares during the period. Finally, Algert Global LLC bought a new position in Speedway Motorsports during the first quarter valued at approximately $211,000. 21.90% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Speedway Motorsports (NYSE TRK) traded up 0.23% during midday trading on Tuesday, reaching $17.29. The company had a trading volume of 22,604 shares. The firm has a market capitalization of $710.00 million, a price-to-earnings ratio of 19.41 and a beta of 0.80. Speedway Motorsports has a 12-month low of $16.62 and a 12-month high of $22.28. The company has a 50 day moving average of $17.77 and a 200 day moving average of $19.71.
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Speedway Motorsports Company Profile
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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