Analysts Anticipate Speedway Motorsports, Inc. (TRK) to Announce $0.32 Earnings Per Share
Wall Street analysts forecast that Speedway Motorsports, Inc. (NYSE:TRK) will announce $0.32 earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have made estimates for Speedway Motorsports’ earnings. Speedway Motorsports posted earnings per share of $0.33 during the same quarter last year, which would indicate a negative year-over-year growth rate of 3%. The company is expected to issue its next quarterly earnings report on Wednesday, October 25th.
On average, analysts expect that Speedway Motorsports will report full year earnings of $0.99 per share for the current fiscal year, with EPS estimates ranging from $0.98 to $1.00. For the next fiscal year, analysts expect that the firm will post earnings of $1.06 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Speedway Motorsports.
Speedway Motorsports (NYSE:TRK) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.05. The business had revenue of $179.25 million for the quarter. Speedway Motorsports had a return on equity of 5.33% and a net margin of 7.66%.
TRK has been the subject of a number of recent research reports. Zacks Investment Research cut Speedway Motorsports from a “hold” rating to a “sell” rating in a report on Saturday, July 15th. Macquarie raised Speedway Motorsports from an “underperform” rating to a “neutral” rating in a report on Friday, May 5th. They noted that the move was a valuation call. TheStreet cut Speedway Motorsports from a “b-” rating to a “c+” rating in a report on Tuesday, May 23rd. Finally, BidaskClub cut Speedway Motorsports from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th.
Speedway Motorsports (TRK) opened at 20.48 on Monday. The company has a market cap of $839.70 million, a PE ratio of 21.40 and a beta of 0.84. The company has a 50-day moving average price of $19.58 and a 200 day moving average price of $19.21. Speedway Motorsports has a 12-month low of $16.80 and a 12-month high of $22.28.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 15th will be issued a $0.15 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.60 dividend on an annualized basis and a yield of 2.93%. Speedway Motorsports’s payout ratio is presently 62.50%.
A number of institutional investors have recently modified their holdings of TRK. Norges Bank purchased a new position in shares of Speedway Motorsports during the fourth quarter worth about $5,317,000. Vivaldi Asset Management LLC purchased a new position in shares of Speedway Motorsports during the second quarter worth about $4,036,000. Vivaldi Capital Management LLC purchased a new position in shares of Speedway Motorsports during the first quarter worth about $2,751,601,000. CWA Asset Management Group LLC purchased a new position in shares of Speedway Motorsports during the first quarter worth about $1,233,000. Finally, Vanguard Group Inc. boosted its position in shares of Speedway Motorsports by 6.6% in the second quarter. Vanguard Group Inc. now owns 1,038,139 shares of the company’s stock worth $18,966,000 after buying an additional 64,192 shares during the last quarter. 21.76% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: This news story was posted by American Banking News and is owned by of American Banking News. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright & trademark laws. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/08/21/analysts-anticipate-speedway-motorsports-inc-trk-to-announce-0-32-earnings-per-share.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Speedway Motorsports Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Speedway Motorsports Inc. and related companies with MarketBeat.com's FREE daily email newsletter.