Brokerages Anticipate Speedway Motorsports, Inc. (NYSE:TRK) to Announce $0.69 Earnings Per Share

Shares of Speedway Motorsports, Inc. (NYSE:TRK) have earned an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.

Brokers have set a twelve-month consensus price objective of $16.00 for the company and are predicting that the company will post $0.69 EPS for the current quarter, according to Zacks. Zacks has also assigned Speedway Motorsports an industry rank of 204 out of 256 based on the ratings given to related companies.

TRK has been the topic of several recent analyst reports. ValuEngine lowered shares of Viewray from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. Zacks Investment Research lowered shares of Horiba from a “hold” rating to a “sell” rating in a report on Wednesday, May 22nd.



Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in Speedway Motorsports by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,258,252 shares of the company’s stock worth $53,011,000 after buying an additional 18,912 shares during the period. BlackRock Inc. increased its stake in Speedway Motorsports by 10.9% during the 4th quarter. BlackRock Inc. now owns 800,907 shares of the company’s stock worth $13,032,000 after buying an additional 78,404 shares during the period. Norges Bank purchased a new stake in Speedway Motorsports during the 4th quarter worth approximately $6,981,000. Northern Trust Corp increased its position in shares of Speedway Motorsports by 1.2% in the 4th quarter. Northern Trust Corp now owns 177,987 shares of the company’s stock valued at $2,896,000 after purchasing an additional 2,097 shares during the last quarter. Finally, North Star Investment Management Corp. increased its position in shares of Speedway Motorsports by 19.1% in the 1st quarter. North Star Investment Management Corp. now owns 151,592 shares of the company’s stock valued at $2,194,000 after purchasing an additional 24,276 shares during the last quarter. Hedge funds and other institutional investors own 21.19% of the company’s stock.

Shares of TRK stock traded up $0.08 during trading hours on Friday, hitting $18.73. The company had a trading volume of 13,728 shares, compared to its average volume of 29,737. The business’s fifty day moving average is $18.45. The company has a quick ratio of 1.48, a current ratio of 1.58 and a debt-to-equity ratio of 0.21. Speedway Motorsports has a fifty-two week low of $13.47 and a fifty-two week high of $18.93. The firm has a market capitalization of $761.62 million, a PE ratio of 18.73 and a beta of 0.94.

Speedway Motorsports (NYSE:TRK) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.22 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.29. Speedway Motorsports had a net margin of 10.63% and a return on equity of 5.62%. The firm had revenue of $107.89 million for the quarter, compared to analyst estimates of $74.35 million. Equities research analysts expect that Speedway Motorsports will post 0.95 earnings per share for the current year.

About Speedway Motorsports

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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