Speedway Motorsports, Inc. (TRK) Announces $0.15 Quarterly Dividend
Speedway Motorsports, Inc. (NYSE:TRK) announced a quarterly dividend on Thursday, July 20th, Wall Street Journal reports. Stockholders of record on Tuesday, August 15th will be paid a dividend of 0.15 per share on Tuesday, September 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, August 11th.
Speedway Motorsports has a payout ratio of 61.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Speedway Motorsports to earn $0.98 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 61.2%.
Shares of Speedway Motorsports (NYSE:TRK) traded down 0.31% during mid-day trading on Thursday, hitting $19.24. 95,043 shares of the stock were exchanged. The stock has a market cap of $790.07 million, a PE ratio of 21.59 and a beta of 0.81. Speedway Motorsports has a 12 month low of $16.62 and a 12 month high of $22.28. The stock’s 50 day moving average is $18.01 and its 200-day moving average is $19.32.
Speedway Motorsports (NYSE:TRK) last issued its quarterly earnings results on Friday, April 28th. The company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.02. The business had revenue of $80.33 million for the quarter. Speedway Motorsports had a return on equity of 4.94% and a net margin of 7.22%. On average, analysts anticipate that Speedway Motorsports will post $0.94 EPS for the current year.
TRK has been the topic of a number of recent research reports. Macquarie upgraded 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 lowered Speedway Motorsports from a “b-” rating to a “c+” rating in a research report on Tuesday, May 23rd. Zacks Investment Research upgraded Speedway Motorsports from a “sell” rating to a “hold” rating in a research report on Wednesday, June 7th. Finally, BidaskClub lowered Speedway Motorsports from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th.
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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