According to Zacks, analysts expect that Speedway Motorsports will report full-year earnings of $0.99 per share for the current year, with EPS estimates ranging from $0.98 to $1.00. For the next year, analysts expect that the business will post earnings of $1.07 per share, with EPS estimates ranging from $1.06 to $1.08. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Speedway Motorsports.
Wall Street brokerages forecast that Speedway Motorsports, Inc. (NYSE:TRK) will post earnings per share of $0.32 for the current fiscal quarter, according to Zacks. Zero analysts have made estimates for Speedway Motorsports’ earnings. Speedway Motorsports reported earnings per share of $0.33 in the same quarter last year, which would indicate a negative year over year growth rate of 3%. The company is expected to announce its next quarterly earnings report on Wednesday, October 25th.
Speedway Motorsports (NYSE:TRK) last released its quarterly earnings data on Wednesday, July 26th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.05. The firm had revenue of $179.25 million for the quarter. Speedway Motorsports had a return on equity of 5.33% and a net margin of 7.66%.
Several equities analysts have commented on TRK shares. Zacks Investment Research raised shares of Speedway Motorsports from a “sell” rating to a “hold” rating in a research report on Wednesday, June 7th. Macquarie raised shares of Speedway Motorsports from an “underperform” rating to a “neutral” rating in a research report on Friday, May 5th. They noted that the move was a valuation call. TheStreet cut shares of Speedway Motorsports from a “b-” rating to a “c+” rating in a research report on Tuesday, May 23rd. Finally, BidaskClub cut shares of Speedway Motorsports from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th.
Speedway Motorsports (TRK) traded down 0.93% during mid-day trading on Wednesday, reaching $21.40. The company’s stock had a trading volume of 34,942 shares. The firm has a 50 day moving average price of $18.60 and a 200 day moving average price of $19.20. Speedway Motorsports has a 52-week low of $16.73 and a 52-week high of $22.28. The company has a market cap of $878.34 million, a price-to-earnings ratio of 22.36 and a beta of 0.83.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.80%. Speedway Motorsports’s dividend payout ratio is currently 62.50%.
Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Speedway Motorsports by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,131,843 shares of the company’s stock valued at $59,004,000 after buying an additional 24,655 shares in the last quarter. Vanguard Group Inc. boosted its position in Speedway Motorsports by 4.0% in the first quarter. Vanguard Group Inc. now owns 973,947 shares of the company’s stock valued at $18,349,000 after buying an additional 37,153 shares in the last quarter. Clark Estates Inc. NY boosted its position in Speedway Motorsports by 15.3% in the second quarter. Clark Estates Inc. NY now owns 292,288 shares of the company’s stock valued at $5,340,000 after buying an additional 38,677 shares in the last quarter. State Street Corp boosted its position in Speedway Motorsports by 3.5% in the fourth quarter. State Street Corp now owns 259,737 shares of the company’s stock valued at $5,629,000 after buying an additional 8,819 shares in the last quarter. Finally, Norges Bank purchased a new position in Speedway Motorsports during the fourth quarter valued at approximately $5,317,000. 21.64% of the stock is currently owned by hedge funds and other institutional investors.
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.
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