Zacks: Speedway Motorsports, Inc. (TRK) Given $17.00 Average Target Price by Analysts
Speedway Motorsports, Inc. (NYSE:TRK) has earned a consensus broker rating score of 3.00 (Hold) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Three analysts have rated the stock with a hold rating.
Brokerages have set a 1-year consensus price target of $17.00 for the company and are anticipating that the company will post $0.32 earnings per share for the current quarter, according to Zacks. Zacks has also given Speedway Motorsports an industry rank of 191 out of 265 based on the ratings given to its competitors.
TRK has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Speedway Motorsports from a “hold” rating to a “sell” rating in a research report on Saturday, July 15th. BidaskClub raised shares of Speedway Motorsports from a “sell” rating to a “hold” rating in a research note on Monday. TheStreet lowered shares of Speedway Motorsports from a “b-” rating to a “c+” rating in a research note on Tuesday, May 23rd. Finally, Macquarie raised 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) traded up 0.84% during trading on Thursday, hitting $20.41. 6,800 shares of the stock were exchanged. The firm’s 50 day moving average price is $18.24 and its 200-day moving average price is $19.24. Speedway Motorsports has a 52 week low of $16.62 and a 52 week high of $22.28. The stock has a market cap of $838.12 million, a P/E ratio of 22.91 and a beta of 0.81.
Speedway Motorsports (NYSE:TRK) last posted 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 7.22% and a return on equity of 4.94%. The company had revenue of $179.25 million during the quarter. On average, analysts predict that Speedway Motorsports will post $0.94 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Tuesday, August 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.96%. The ex-dividend date is Friday, August 11th. Speedway Motorsports’s dividend payout ratio is presently 67.42%.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRK. Vivaldi Capital Management LLC acquired a new position in Speedway Motorsports during the first quarter worth $2,751,601,000. Alambic Investment Management L.P. raised 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 worth $298,000 after buying an additional 6,005 shares during the period. North Star Investment Management Corp. raised its position in Speedway Motorsports by 107.8% in the first quarter. North Star Investment Management Corp. now owns 78,240 shares of the company’s stock worth $1,474,000 after buying an additional 40,590 shares during the period. Renaissance Technologies LLC raised its position in Speedway Motorsports by 15.9% in the fourth quarter. Renaissance Technologies LLC now owns 302,500 shares of the company’s stock worth $6,555,000 after buying an additional 41,600 shares during the period. Finally, Prudential Financial Inc. raised 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 worth $1,676,000 after buying an additional 1,793 shares during the period. 21.93% of the stock is currently owned by hedge funds and other institutional investors.
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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