Speedway Motorsports, Inc. (NYSE:TRK) has been given a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation.
Analysts have set a 1 year consensus price objective of $19.00 for the company and are expecting that the company will post $0.82 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Speedway Motorsports an industry rank of 153 out of 255 based on the ratings given to its competitors.
TRK has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Speedway Motorsports from a “hold” rating to a “sell” rating in a research note on Thursday, April 12th. ValuEngine raised shares of Speedway Motorsports from a “sell” rating to a “hold” rating in a research note on Wednesday.
Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of Speedway Motorsports by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,201,372 shares of the company’s stock worth $57,048,000 after purchasing an additional 37,126 shares during the period. BlackRock Inc. grew its stake in shares of Speedway Motorsports by 0.9% during the 4th quarter. BlackRock Inc. now owns 705,923 shares of the company’s stock worth $13,321,000 after purchasing an additional 6,636 shares during the period. potrero capital research llc grew its stake in shares of Speedway Motorsports by 5.9% during the 4th quarter. potrero capital research llc now owns 305,524 shares of the company’s stock worth $5,765,000 after purchasing an additional 16,902 shares during the period. Renaissance Technologies LLC grew its stake in shares of Speedway Motorsports by 17.5% during the 4th quarter. Renaissance Technologies LLC now owns 298,500 shares of the company’s stock worth $5,633,000 after purchasing an additional 44,400 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Speedway Motorsports by 31.3% during the 4th quarter. Bank of New York Mellon Corp now owns 275,015 shares of the company’s stock worth $5,190,000 after purchasing an additional 65,563 shares during the period. 21.52% of the stock is currently owned by institutional investors and hedge funds.
Speedway Motorsports stock traded down $0.16 during trading hours on Friday, reaching $17.34. 35,178 shares of the stock were exchanged, compared to its average volume of 34,659. The company has a market cap of $719.34 million, a P/E ratio of 19.31, a PEG ratio of 2.94 and a beta of 1.04. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.14 and a current ratio of 1.23. Speedway Motorsports has a 52-week low of $16.46 and a 52-week high of $23.47.
Speedway Motorsports (NYSE:TRK) last announced its quarterly earnings data on Thursday, April 26th. The company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.08). The firm had revenue of $74.36 million for the quarter, compared to analysts’ expectations of $79.43 million. Speedway Motorsports had a return on equity of 3.89% and a net margin of 31.53%. equities analysts predict that Speedway Motorsports will post 1.09 earnings per share for the current year.
Speedway Motorsports declared that its board has authorized a share buyback program on Wednesday, March 7th that authorizes the company to buyback 1,000,000 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 5th. Stockholders of record on Tuesday, May 15th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, May 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.46%. Speedway Motorsports’s dividend payout ratio (DPR) is presently 65.93%.
Speedway Motorsports Company Profile
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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