Analysts Set $18.00 Price Target for Speedway Motorsports, Inc. (TRK)

Speedway Motorsports, Inc. (NYSE:TRK) has been assigned a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.

Analysts have set a twelve-month consensus price objective of $18.00 for the company and are predicting that the company will post $0.33 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Speedway Motorsports an industry rank of 208 out of 255 based on the ratings given to its competitors.

Separately, ValuEngine upgraded shares of Speedway Motorsports from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st.



Hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP purchased a new position in Speedway Motorsports during the third quarter worth about $310,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Speedway Motorsports by 73.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,525 shares of the company’s stock valued at $356,000 after purchasing an additional 8,725 shares during the last quarter. Ramsey Quantitative Systems raised its position in Speedway Motorsports by 56.7% in the 3rd quarter. Ramsey Quantitative Systems now owns 28,192 shares of the company’s stock valued at $503,000 after purchasing an additional 10,201 shares during the last quarter. Citadel Advisors LLC purchased a new stake in Speedway Motorsports in the 2nd quarter valued at $553,000. Finally, Strs Ohio raised its position in Speedway Motorsports by 9.8% in the 2nd quarter. Strs Ohio now owns 34,600 shares of the company’s stock valued at $600,000 after purchasing an additional 3,100 shares during the last quarter. Institutional investors own 21.74% of the company’s stock.

NYSE:TRK traded up $0.16 during mid-day trading on Wednesday, hitting $15.88. The company had a trading volume of 400 shares, compared to its average volume of 28,985. Speedway Motorsports has a fifty-two week low of $14.66 and a fifty-two week high of $21.15. The company has a current ratio of 1.32, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $635.16 million, a price-to-earnings ratio of 17.45, a PEG ratio of -7.52 and a beta of 1.00.

Speedway Motorsports (NYSE:TRK) last announced its quarterly earnings data on Wednesday, August 1st. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.04). The business had revenue of $165.85 million during the quarter, compared to analyst estimates of $178.21 million. Speedway Motorsports had a net margin of 33.47% and a return on equity of 4.07%. Sell-side analysts predict that Speedway Motorsports will post 1.03 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 12th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, November 8th. This represents a $0.60 annualized dividend and a yield of 3.78%. Speedway Motorsports’s dividend payout ratio is presently 65.93%.

Speedway Motorsports Company Profile

Speedway Motorsports, Inc, through its subsidiaries, promotes, markets, and sponsors motorsports activities in the United States. The company owns and operates eight racing facilities, including Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Sonoma Raceway, and Texas Motor Speedway racing facilities.

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