Brokerages Anticipate Speedway Motorsports, Inc. (TRK) to Post ($0.01) EPS
Speedway Motorsports, Inc. (NYSE:TRK) has earned an average broker rating score of 3.00 (Hold) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold recommendation.
Brokers have set a 12 month consensus price objective of $18.25 for the company and are predicting that the company will post ($0.01) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Speedway Motorsports an industry rank of 168 out of 265 based on the ratings given to its competitors.
TRK has been the topic of a number of recent research reports. Zacks Investment Research downgraded Speedway Motorsports from a “buy” rating to a “hold” rating in a report on Friday, September 15th. TheStreet downgraded Speedway Motorsports from a “b” rating to a “c+” rating in a report on Wednesday, October 25th.
Several hedge funds and other institutional investors have recently bought and sold shares of TRK. Carroll Financial Associates Inc. grew its position in shares of Speedway Motorsports by 1,770.9% during the third quarter. Carroll Financial Associates Inc. now owns 4,958 shares of the company’s stock worth $107,000 after purchasing an additional 4,693 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Speedway Motorsports by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 11,721 shares of the company’s stock worth $214,000 after purchasing an additional 821 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Speedway Motorsports by 2.2% during the second quarter. Wells Fargo & Company MN now owns 12,803 shares of the company’s stock worth $234,000 after purchasing an additional 279 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Speedway Motorsports during the third quarter worth about $279,000. Finally, Rhumbline Advisers grew its position in shares of Speedway Motorsports by 6.0% during the second quarter. Rhumbline Advisers now owns 17,401 shares of the company’s stock worth $318,000 after purchasing an additional 986 shares in the last quarter. 21.18% of the stock is currently owned by hedge funds and other institutional investors.
Speedway Motorsports (NYSE TRK) traded up $0.20 during mid-day trading on Tuesday, reaching $19.63. The company’s stock had a trading volume of 29,500 shares, compared to its average volume of 43,360. Speedway Motorsports has a 52 week low of $16.80 and a 52 week high of $23.47. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.33 and a current ratio of 1.42. The company has a market capitalization of $796.00, a P/E ratio of 20.89, a price-to-earnings-growth ratio of -5.71 and a beta of 0.87.
Speedway Motorsports (NYSE:TRK) last posted its earnings results on Wednesday, October 25th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.06). Speedway Motorsports had a net margin of 7.26% and a return on equity of 4.79%. The firm had revenue of $137.61 million during the quarter, compared to the consensus estimate of $141.79 million. sell-side analysts anticipate that Speedway Motorsports will post 0.95 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Thursday, November 9th. Speedway Motorsports’s dividend payout ratio (DPR) is currently 70.59%.
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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