Analysts expect Speedway Motorsports, Inc. (NYSE:TRK) to report $0.63 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Speedway Motorsports’ earnings. Speedway Motorsports posted earnings per share of $0.60 during the same quarter last year, which indicates a positive year-over-year growth rate of 5%. The firm is expected to announce its next quarterly earnings results on Wednesday, July 26th.
On average, analysts expect that Speedway Motorsports will report full year earnings of $0.98 per share for the current financial year, with EPS estimates ranging from $0.93 to $1.03. For the next financial year, analysts expect that the business will post earnings of $0.99 per share. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that follow Speedway Motorsports.
Speedway Motorsports (NYSE:TRK) last posted its quarterly earnings results on Friday, April 28th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $80.33 million during the quarter. Speedway Motorsports had a return on equity of 4.94% and a net margin of 7.22%.
Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Speedway Motorsports from a “sell” rating to a “hold” rating in a report on Wednesday, June 7th. TheStreet cut Speedway Motorsports from a “b-” rating to a “c+” rating in a report on Tuesday, May 23rd. Finally, Macquarie upgraded Speedway Motorsports from an “underperform” rating to a “neutral” rating in a report on Friday, May 5th. They noted that the move was a valuation call.
Speedway Motorsports (NYSE TRK) traded down 2.466% during mid-day trading on Thursday, hitting $17.995. 6,676 shares of the stock were exchanged. The stock has a market capitalization of $738.95 million, a P/E ratio of 20.196 and a beta of 0.81. The firm has a 50-day moving average price of $17.53 and a 200-day moving average price of $19.85. Speedway Motorsports has a 12-month low of $16.62 and a 12-month high of $22.29.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 5th. Stockholders of record on Monday, May 15th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend was Thursday, May 11th. Speedway Motorsports’s dividend payout ratio (DPR) is presently 67.42%.
Several institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its position in Speedway Motorsports by 60.1% in the first quarter. Goldman Sachs Group Inc. now owns 31,063 shares of the company’s stock valued at $585,000 after buying an additional 11,665 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Speedway Motorsports by 5.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 44,140 shares of the company’s stock valued at $832,000 after buying an additional 2,223 shares during the period. Citadel Advisors LLC acquired a new position in Speedway Motorsports during the first quarter valued at $433,000. 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 during the period. Finally, Geode Capital Management LLC boosted its position in Speedway Motorsports by 3.5% in the first quarter. Geode Capital Management LLC now owns 98,045 shares of the company’s stock valued at $1,847,000 after buying an additional 3,270 shares during the period. Institutional investors and hedge funds own 21.90% of the company’s stock.
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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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