Shares of Speedway Motorsports, Inc. (NYSE:TRK) have received a consensus broker rating score of 5.00 (Strong Sell) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell recommendation. Speedway Motorsports’ rating score has declined by 66.7% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Analysts have set a 1 year consensus price target of $16.00 for the company and are expecting that the company will post $0.47 EPS for the current quarter, according to Zacks. Zacks has also given Speedway Motorsports an industry rank of 102 out of 256 based on the ratings given to related companies.
Several equities research analysts have recently weighed in on the company. Wells Fargo & Co reissued a “sell” rating on shares of Bausch Health Companies in a research note on Monday, July 15th. ValuEngine cut Viewray from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Finally, Zacks Investment Research cut Hallmark Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th.
Several hedge funds have recently modified their holdings of TRK. Dimensional Fund Advisors LP lifted its stake in shares of Speedway Motorsports by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,258,252 shares of the company’s stock valued at $53,011,000 after purchasing an additional 18,912 shares during the period. BlackRock Inc. lifted its holdings in shares of Speedway Motorsports by 10.9% during the 4th quarter. BlackRock Inc. now owns 800,907 shares of the company’s stock valued at $13,032,000 after purchasing an additional 78,404 shares in the last quarter. Norges Bank bought a new stake in Speedway Motorsports in the 4th quarter valued at approximately $6,981,000. Northern Trust Corp lifted its stake in Speedway Motorsports by 1.2% in the 4th quarter. Northern Trust Corp now owns 177,987 shares of the company’s stock valued at $2,896,000 after acquiring an additional 2,097 shares in the last quarter. Finally, North Star Investment Management Corp. lifted its stake in Speedway Motorsports by 19.1% in the 1st quarter. North Star Investment Management Corp. now owns 151,592 shares of the company’s stock valued at $2,194,000 after acquiring an additional 24,276 shares in the last quarter. 21.15% of the stock is owned by institutional investors.
Speedway Motorsports stock traded up $0.01 during trading hours on Friday, hitting $19.81. The stock had a trading volume of 412 shares, compared to its average volume of 44,243. The company has a current ratio of 1.58, a quick ratio of 1.48 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $809.40 million, a PE ratio of 19.81 and a beta of 0.94. Speedway Motorsports has a one year low of $13.47 and a one year high of $19.88. The business has a 50 day moving average of $18.62.
Speedway Motorsports (NYSE:TRK) last posted its earnings results on Wednesday, May 1st. The company reported $0.22 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.29. The firm had revenue of $107.89 million during the quarter, compared to the consensus estimate of $74.35 million. Speedway Motorsports had a return on equity of 5.62% and a net margin of 10.63%. As a group, analysts anticipate that Speedway Motorsports will post 0.94 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.03%. Speedway Motorsports’s payout ratio is 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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