Speedway Motorsports (NYSE:TRK) Announces Earnings Results

Speedway Motorsports (NYSE:TRK) announced its quarterly earnings results on Wednesday. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.03), Fidelity Earnings reports. Speedway Motorsports had a net margin of 8.07% and a return on equity of 4.23%. The company had revenue of $141.87 million during the quarter, compared to the consensus estimate of $143.46 million. Speedway Motorsports updated its FY 2019 guidance to $0.90-1.10 EPS.

Speedway Motorsports stock remained flat at $$19.80 on Friday. The company’s stock had a trading volume of 175,630 shares, compared to its average volume of 124,553. The company has a quick ratio of 1.48, a current ratio of 1.58 and a debt-to-equity ratio of 0.21. The stock has a market cap of $808.58 million, a PE ratio of 20.20 and a beta of 0.94. The business has a fifty day moving average of $18.84. Speedway Motorsports has a one year low of $13.47 and a one year high of $19.90.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Wednesday, August 14th. Speedway Motorsports’s dividend payout ratio is currently 60.00%.

A number of institutional investors have recently bought and sold shares of TRK. First Trust Advisors LP boosted its stake in Speedway Motorsports by 18.5% in the fourth quarter. First Trust Advisors LP now owns 20,610 shares of the company’s stock worth $335,000 after purchasing an additional 3,216 shares in the last quarter. BlackRock Inc. boosted its stake in Speedway Motorsports by 10.9% in the fourth quarter. BlackRock Inc. now owns 800,907 shares of the company’s stock worth $13,032,000 after purchasing an additional 78,404 shares in the last quarter. Northern Trust Corp boosted its stake in Speedway Motorsports by 1.2% in the fourth quarter. Northern Trust Corp now owns 177,987 shares of the company’s stock worth $2,896,000 after purchasing an additional 2,097 shares in the last quarter. Geode Capital Management LLC boosted its stake in Speedway Motorsports by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 119,940 shares of the company’s stock worth $1,951,000 after purchasing an additional 6,392 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Speedway Motorsports by 357.1% in the fourth quarter. Bank of America Corp DE now owns 27,187 shares of the company’s stock worth $442,000 after purchasing an additional 21,239 shares in the last quarter. 21.23% of the stock is currently owned by institutional investors.

TRK has been the topic of a number of analyst reports. Wells Fargo & Co cut Speedway Motorsports from a “market perform” rating to an “underperform” rating in a research report on Monday, July 15th. ValuEngine upgraded Speedway Motorsports from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Finally, Zacks Investment Research lowered Speedway Motorsports from a “hold” rating to a “sell” rating in a research note on Friday.

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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Earnings History for Speedway Motorsports (NYSE:TRK)

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