Speedway Motorsports Inc. (NYSE:TRK) has received an average broker rating score of 3.00 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating.
Zacks has also assigned Speedway Motorsports an industry rank of 152 out of 265 based on the ratings given to its competitors.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research cut Speedway Motorsports from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. TheStreet raised Speedway Motorsports from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th.
Shares of Speedway Motorsports (NYSE:TRK) opened at 17.86 on Monday. Speedway Motorsports has a 1-year low of $16.62 and a 1-year high of $21.32. The firm has a market cap of $734.80 million, a PE ratio of 23.88 and a beta of 0.85. The stock has a 50 day moving average of $17.83 and a 200 day moving average of $17.93.
Speedway Motorsports (NYSE:TRK) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.70 by $0.10. Speedway Motorsports had a net margin of 6.26% and a return on equity of 4.86%. The business earned $175.70 million during the quarter, compared to the consensus estimate of $179.30 million. Equities research analysts anticipate that Speedway Motorsports will post $0.93 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 5th. Stockholders of record on Monday, August 15th were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 3.36%. Speedway Motorsports’s dividend payout ratio is 80.00%.
Several hedge funds and other institutional investors have recently modified their holdings of TRK. Prudential Financial Inc. raised its position in shares of Speedway Motorsports by 8.8% in the first quarter. Prudential Financial Inc. now owns 80,383 shares of the company’s stock worth $1,594,000 after buying an additional 6,500 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Speedway Motorsports by 4.5% in the first quarter. JPMorgan Chase & Co. now owns 188,094 shares of the company’s stock worth $3,730,000 after buying an additional 8,062 shares during the last quarter. William Harris Investors Inc. raised its position in shares of Speedway Motorsports by 1.5% in the first quarter. William Harris Investors Inc. now owns 380,717 shares of the company’s stock worth $7,550,000 after buying an additional 5,810 shares during the last quarter. State Street Corp raised its position in shares of Speedway Motorsports by 27.1% in the first quarter. State Street Corp now owns 244,947 shares of the company’s stock worth $4,857,000 after buying an additional 52,225 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Speedway Motorsports by 1.9% in the first quarter. Geode Capital Management LLC now owns 89,456 shares of the company’s stock worth $1,773,000 after buying an additional 1,658 shares during the last quarter. Institutional investors and hedge funds own 22.12% of the company’s stock.
About Speedway Motorsports
Speedway Motorsports, Inc is engaged in promoting, marketing and sponsoring motorsports activities in the United States. The Company also provides event and non-event souvenir merchandising and distribution services, and food, beverage and hospitality catering services through its subsidiary, SMISC Holdings, Inc It provides radio programming, production and distribution; distributes wholesale and retail motorsports, and other sports-related souvenir merchandise and apparel, and manufactures and distributes smaller-scale, modified racing cars and parts.
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