Gabelli Weighs in on Speedway Motorsports, Inc.’s FY2017 Earnings (TRK)

Speedway Motorsports, Inc. (NYSE:TRK) – Equities research analysts at Gabelli decreased their FY2017 EPS estimates for shares of Speedway Motorsports in a research note issued on Friday. Gabelli analyst B. Lucas now expects that the company will earn $0.95 per share for the year, down from their previous estimate of $0.97.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Speedway Motorsports from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Wednesday, January 31st. TheStreet downgraded Speedway Motorsports from a “b” rating to a “c+” rating in a report on Wednesday, October 25th.

Shares of Speedway Motorsports (NYSE:TRK) opened at $19.59 on Monday. Speedway Motorsports has a twelve month low of $16.80 and a twelve month high of $23.47. The company has a current ratio of 1.42, a quick ratio of 1.33 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $802.56, a price-to-earnings ratio of 23.05, a PEG ratio of -4.88 and a beta of 1.04.

Several hedge funds and other institutional investors have recently modified their holdings of TRK. Carroll Financial Associates Inc. increased its position in shares of Speedway Motorsports by 1,770.9% in 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 during the period. The Manufacturers Life Insurance Company increased its position in shares of Speedway Motorsports by 7.5% in 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 during the period. Wells Fargo & Company MN increased its position in shares of Speedway Motorsports by 2.2% in 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 during the period. Algert Global LLC bought a new position in shares of Speedway Motorsports in the fourth quarter worth $268,000. Finally, Macquarie Group Ltd. bought a new position in shares of Speedway Motorsports in the third quarter worth $279,000. Institutional investors own 21.18% of the company’s stock.

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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.

Earnings History and Estimates for Speedway Motorsports (NYSE:TRK)

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