FY2017 Earnings Forecast for Speedway Motorsports, Inc. (TRK) Issued By Gabelli

Speedway Motorsports, Inc. (NYSE:TRK) – Research analysts at Gabelli lowered their FY2017 earnings estimates for Speedway Motorsports in a research report issued to clients and investors on Friday. Gabelli analyst B. Lucas now anticipates that the company will post earnings per share of $0.95 for the year, down from their prior forecast of $0.97.

A number of other analysts also recently issued reports on TRK. Zacks Investment Research raised Speedway Motorsports from a “sell” rating to a “hold” rating in a research report on Thursday, January 25th. TheStreet downgraded Speedway Motorsports from a “b” rating to a “c+” rating in a research report on Wednesday, October 25th.

Shares of Speedway Motorsports (TRK) opened at $19.91 on Monday. The company has a current ratio of 1.42, a quick ratio of 1.33 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $802.56, a PE ratio of 21.07, a P/E/G ratio of -4.88 and a beta of 1.04. Speedway Motorsports has a 52-week low of $16.80 and a 52-week high of $23.47.

A number of institutional investors have recently made changes to their positions in TRK. Allianz Asset Management GmbH boosted its holdings in Speedway Motorsports by 531.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 114,361 shares of the company’s stock valued at $2,435,000 after acquiring an additional 96,245 shares during the period. Bank of New York Mellon Corp boosted its holdings in 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 valued at $5,190,000 after acquiring an additional 65,563 shares during the period. Vanguard Group Inc. boosted its holdings in Speedway Motorsports by 6.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,038,139 shares of the company’s stock valued at $18,966,000 after acquiring an additional 64,192 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Speedway Motorsports by 91.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 111,993 shares of the company’s stock valued at $2,113,000 after acquiring an additional 53,502 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Speedway Motorsports by 17.5% during the 4th quarter. Renaissance Technologies LLC now owns 298,500 shares of the company’s stock valued at $5,633,000 after acquiring an additional 44,400 shares during the period. Institutional investors own 21.18% of the company’s stock.

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About Speedway Motorsports

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.

Earnings History and Estimates for Speedway Motorsports (NYSE:TRK)

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