International Speedway Corp. (NASDAQ:ISCA) posted its earnings results on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. The company earned $129 million during the quarter. International Speedway Corp. had a return on equity of 5.00% and a net margin of 11.57%. International Speedway Corp.’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. International Speedway Corp. updated its FY16 guidance to $1.45-1.55 EPS.
International Speedway Corp. (NASDAQ:ISCA) opened at 31.45 on Monday. International Speedway Corp. has a 52-week low of $29.71 and a 52-week high of $37.87. The stock’s 50 day moving average price is $33.43 and its 200 day moving average price is $33.87. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 19.15 and a beta of 1.07.
Several research firms have recently issued reports on ISCA. Zacks Investment Research lowered International Speedway Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, July 7th. Citigroup Inc. decreased their target price on International Speedway Corp. from $32.00 to $29.00 and set a “sell” rating for the company in a research report on Monday, August 29th.
Hedge funds have recently added to or reduced their stakes in the stock. TFS Capital LLC acquired a new stake in International Speedway Corp. during the second quarter valued at $1,332,000. ProShare Advisors LLC raised its stake in International Speedway Corp. by 165.5% in the second quarter. ProShare Advisors LLC now owns 61,569 shares of the company’s stock valued at $2,059,000 after buying an additional 38,381 shares during the period. Menta Capital LLC acquired a new stake in International Speedway Corp. during the second quarter valued at $1,211,000. Westwood Holdings Group Inc. raised its stake in International Speedway Corp. by 11.7% in the second quarter. Westwood Holdings Group Inc. now owns 342,171 shares of the company’s stock valued at $11,445,000 after buying an additional 35,850 shares during the period. Finally, Deere & Co. acquired a new stake in International Speedway Corp. during the second quarter valued at $576,000. 51.69% of the stock is currently owned by institutional investors and hedge funds.
About International Speedway Corp.
International Speedway Corporation is an owner of motorsports entertainment facilities and promoter of motorsports themed entertainment activities. The Company’s business is a motorsports themed amusement enterprise, furnishing amusement in the form of motorsports themed entertainment. Its motorsports themed event operations consists of racing events at its motorsports entertainment facilities, which include providing catering, and food and beverage concessions at its motorsports entertainment facilities that host National Association for Stock Car Auto Racing (NASCAR) Sprint Cup Series events.
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