Analysts Anticipate Speedway Motorsports, Inc. (NYSE:TRK) to Announce $0.63 Earnings Per Share
Wall Street brokerages forecast that Speedway Motorsports, Inc. (NYSE:TRK) will report earnings per share (EPS) of $0.63 for the current fiscal quarter, according to Zacks. Zero analysts have made estimates for Speedway Motorsports’ earnings. Speedway Motorsports reported earnings of $0.60 per share during the same quarter last year, which would suggest a positive year over year growth rate of 5%. The firm is scheduled to issue its next earnings report on Wednesday, July 26th.
According to Zacks, analysts expect that Speedway Motorsports will report full year earnings of $0.96 per share for the current financial year, with EPS estimates ranging from $0.93 to $0.98. For the next financial year, analysts expect that the business will report earnings of $1.04 per share, with EPS estimates ranging from $0.99 to $1.08. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Speedway Motorsports.
Speedway Motorsports (NYSE:TRK) last released its quarterly earnings data on Friday, April 28th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by $0.02. Speedway Motorsports had a net margin of 7.22% and a return on equity of 4.94%. The firm had revenue of $80.33 million during the quarter.
TRK has been the subject of several research reports. BidaskClub lowered shares of Speedway Motorsports from a “hold” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research raised shares of Speedway Motorsports from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. TheStreet downgraded Speedway Motorsports from a “b-” rating to a “c+” rating in a research note on Tuesday, May 23rd. Finally, Macquarie upgraded Speedway Motorsports from an “underperform” rating to a “neutral” rating in a research note on Friday, May 5th. They noted that the move was a valuation call.
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Several hedge funds and other institutional investors have recently made changes to their positions in TRK. American International Group Inc. increased its position in shares of Speedway Motorsports by 7.4% in the first quarter. American International Group Inc. now owns 7,255 shares of the company’s stock worth $137,000 after buying an additional 498 shares during the period. Spark Investment Management LLC bought a new position in shares of Speedway Motorsports during the first quarter worth about $194,000. Algert Global LLC bought a new position in shares of Speedway Motorsports during the first quarter worth about $211,000. Alambic Investment Management L.P. increased its position in shares of Speedway Motorsports by 61.3% in the first quarter. Alambic Investment Management L.P. now owns 15,805 shares of the company’s stock worth $298,000 after buying an additional 6,005 shares during the period. Finally, Citadel Advisors LLC bought a new position in shares of Speedway Motorsports during the first quarter worth about $433,000. Institutional investors own 21.90% of the company’s stock.
Speedway Motorsports (TRK) traded up 0.58% during trading on Tuesday, hitting $17.41. 18,464 shares of the stock were exchanged. Speedway Motorsports has a 1-year low of $16.62 and a 1-year high of $22.28. The company has a 50-day moving average price of $17.77 and a 200 day moving average price of $19.71. The firm has a market capitalization of $714.92 million, a price-to-earnings ratio of 19.56 and a beta of 0.81.
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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