Shares of Speedway Motorsports, Inc. (NYSE:TRK) have earned an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.
Brokers have set a 1-year consensus price target of $16.00 for the company and are expecting that the company will post $0.69 earnings per share for the current quarter, according to Zacks. Zacks has also given Speedway Motorsports an industry rank of 103 out of 256 based on the ratings given to its competitors.
TRK has been the subject of several research reports. Zacks Investment Research cut shares of Speedway Motorsports from a “buy” rating to a “hold” rating in a research note on Friday, March 8th. TheStreet cut shares of Speedway Motorsports from a “b” rating to a “c+” rating in a research note on Thursday, March 14th. Finally, ValuEngine cut shares of Speedway Motorsports from a “hold” rating to a “sell” rating in a research note on Monday, April 1st.
Large investors have recently added to or reduced their stakes in the stock. Man Group plc lifted its holdings in Speedway Motorsports by 17.8% during the 1st quarter. Man Group plc now owns 27,578 shares of the company’s stock valued at $399,000 after purchasing an additional 4,175 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Speedway Motorsports by 4.8% during the first quarter. Renaissance Technologies LLC now owns 436,744 shares of the company’s stock worth $6,320,000 after buying an additional 19,956 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Speedway Motorsports by 61.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 26,383 shares of the company’s stock worth $382,000 after buying an additional 10,022 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Speedway Motorsports by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,268,782 shares of the company’s stock worth $47,300,000 after buying an additional 10,530 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Speedway Motorsports by 58.5% during the first quarter. Wells Fargo & Company MN now owns 34,664 shares of the company’s stock worth $501,000 after buying an additional 12,792 shares in the last quarter. 21.22% of the stock is owned by institutional investors and hedge funds.
Shares of TRK traded up $0.17 during mid-day trading on Wednesday, hitting $18.47. 4,544 shares of the company’s stock were exchanged, compared to its average volume of 53,920. The stock has a market capitalization of $751.00 million, a P/E ratio of 18.53 and a beta of 0.97. Speedway Motorsports has a 52 week low of $13.47 and a 52 week high of $18.84. The company has a quick ratio of 1.48, a current ratio of 1.58 and a debt-to-equity ratio of 0.21.
Speedway Motorsports (NYSE:TRK) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.29. The company had revenue of $107.89 million during the quarter, compared to analysts’ expectations of $74.35 million. Speedway Motorsports had a net margin of 10.63% and a return on equity of 5.62%. On average, sell-side analysts anticipate that Speedway Motorsports will post 0.95 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th were paid a $0.15 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.25%. Speedway Motorsports’s dividend payout ratio is presently 60.00%.
About Speedway Motorsports
Speedway Motorsports, Inc, through its subsidiaries, promotes, markets, and sponsors motorsports activities in the United States. The company owns and operates eight racing facilities, including Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Sonoma Raceway, and Texas Motor Speedway racing facilities.
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