International Speedway Corp. (ISCA) Updates FY16 Earnings Guidance
International Speedway Corp. (NASDAQ:ISCA) updated its FY16 earnings guidance on Thursday. The company provided earnings per share guidance of $1.45-1.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.49. The company issued revenue guidance of $658-665 million, compared to the consensus revenue estimate of $666.01 million.
A number of brokerages have issued reports on ISCA. Zacks Investment Research lowered International Speedway Corp. from a hold rating to a sell rating in a research report on Thursday, July 7th. Citigroup Inc. reduced their price target on International Speedway Corp. from $32.00 to $29.00 and set a sell rating for the company in a research report on Monday, August 29th.
Shares of International Speedway Corp. (NASDAQ:ISCA) opened at 33.70 on Thursday. The company has a market cap of $1.55 billion, a P/E ratio of 22.48 and a beta of 1.07. International Speedway Corp. has a 1-year low of $29.71 and a 1-year high of $37.87. The stock has a 50 day moving average price of $33.54 and a 200-day moving average price of $33.92.
International Speedway Corp. (NASDAQ:ISCA) last released its quarterly earnings results on Thursday, October 6th. The company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.04. The business had revenue of $129 million for the quarter. International Speedway Corp. had a return on equity of 4.88% and a net margin of 10.69%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.01) earnings per share. Analysts predict that International Speedway Corp. will post $1.49 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new position in shares of International Speedway Corp. during the second quarter worth approximately $444,000. Menta Capital LLC purchased a new position in shares of International Speedway Corp. during the second quarter worth approximately $1,211,000. Massachusetts Financial Services Co. MA raised its position in shares of International Speedway Corp. by 7.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 124,231 shares of the company’s stock worth $4,156,000 after buying an additional 9,034 shares during the last quarter. ProShare Advisors LLC raised its position in shares of International Speedway Corp. by 165.5% in the second quarter. ProShare Advisors LLC now owns 61,569 shares of the company’s stock worth $2,059,000 after buying an additional 38,381 shares during the last quarter. Finally, Algert Global LLC raised its position in shares of International Speedway Corp. by 18.1% in the second quarter. Algert Global LLC now owns 20,063 shares of the company’s stock worth $671,000 after buying an additional 3,078 shares during the last quarter. Hedge funds and other institutional investors own 51.69% of the company’s stock.
International Speedway Corp. Company Profile
International Speedway Corporation is an owner of motorsports entertainment facilities and promoter of motorsports themed entertainment activities. The Company’s business is a motorsports themed amusement enterprise, furnishing amusement in the form of motorsports themed entertainment. Its motorsports themed event operations consists of racing events at its motorsports entertainment facilities, which include providing catering, and food and beverage concessions at its motorsports entertainment facilities that host National Association for Stock Car Auto Racing (NASCAR) Sprint Cup Series events.
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