Brokerages Expect Speedway Motorsports, Inc. (TRK) to Announce ($0.01) EPS

Shares of Speedway Motorsports, Inc. (NYSE:TRK) have been assigned a consensus broker rating score of 3.00 (Hold) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Three analysts have rated the stock with a hold recommendation.

Brokerages have set a 1 year consensus price objective of $18.25 for the company and are predicting that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also given Speedway Motorsports an industry rank of 188 out of 265 based on the ratings given to related companies.

A number of equities research analysts recently commented on TRK shares. Zacks Investment Research upgraded shares of Speedway Motorsports from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Saturday, October 28th. TheStreet downgraded shares of Speedway Motorsports from a “b” rating to a “c+” rating in a research report on Wednesday, October 25th.

In other news, Director Mark M. Gambill sold 12,000 shares of Speedway Motorsports stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $20.00, for a total transaction of $240,000.00. Following the completion of the sale, the director now directly owns 40,428 shares in the company, valued at approximately $808,560. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 72.00% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of Speedway Motorsports by 1.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 216,149 shares of the company’s stock worth $3,949,000 after purchasing an additional 3,010 shares during the last quarter. Vivaldi Asset Management LLC acquired a new position in shares of Speedway Motorsports during the 2nd quarter worth approximately $4,036,000. Geode Capital Management LLC raised its position in shares of Speedway Motorsports by 3.5% during the 1st quarter. Geode Capital Management LLC now owns 98,045 shares of the company’s stock worth $1,847,000 after purchasing an additional 3,270 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Speedway Motorsports by 6.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,038,139 shares of the company’s stock worth $18,966,000 after purchasing an additional 64,192 shares during the last quarter. Finally, State Street Corp raised its position in shares of Speedway Motorsports by 3.6% during the 2nd quarter. State Street Corp now owns 226,235 shares of the company’s stock worth $4,131,000 after purchasing an additional 7,871 shares during the last quarter. Institutional investors own 21.18% of the company’s stock.

Speedway Motorsports (NYSE TRK) traded down $0.16 during midday trading on Thursday, hitting $19.39. The company had a trading volume of 31,800 shares, compared to its average volume of 43,593. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.33 and a current ratio of 1.42. Speedway Motorsports has a 52-week low of $16.80 and a 52-week high of $23.47. The stock has a market capitalization of $812.39, a price-to-earnings ratio of 22.81, a P/E/G ratio of -5.83 and a beta of 0.87.

Speedway Motorsports (NYSE:TRK) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.06). Speedway Motorsports had a return on equity of 4.79% and a net margin of 7.26%. The company had revenue of $137.61 million for the quarter, compared to analysts’ expectations of $141.79 million. equities analysts forecast that Speedway Motorsports will post 0.95 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were given a $0.15 dividend. The ex-dividend date was Thursday, November 9th. This represents a $0.60 dividend on an annualized basis and a yield of 3.09%. Speedway Motorsports’s payout ratio is currently 70.59%.

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Speedway Motorsports Company Profile

Speedway Motorsports, Inc (SMI), through its operating subsidiaries, is a promoter, marketer and sponsor of motorsports activities in the United States. The Company’s operations consist of promoting, marketing and sponsoring motorsports racing events, merchandising and other related activities conducted at its various speedway facilities located in the United States.

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