Speedway Motorsports Inc. (TRK) Sets New 1-Year Low at $16.62
Speedway Motorsports Inc. (NYSE:TRK) hit a new 52-week low on Tuesday . The company traded as low as $16.62 and last traded at $16.83, with a volume of 19,389 shares. The stock had previously closed at $17.04.
A number of equities research analysts have weighed in on the stock. TheStreet upgraded shares of Speedway Motorsports from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th. Zacks Investment Research cut shares of Speedway Motorsports from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th.
The firm has a 50 day moving average price of $17.89 and a 200 day moving average price of $18.11. The firm has a market cap of $689.13 million and a price-to-earnings ratio of 22.39.
Speedway Motorsports (NYSE:TRK) last released its earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by $0.10. The firm had revenue of $175.70 million for the quarter, compared to analysts’ expectations of $179.30 million. On average, equities analysts expect that Speedway Motorsports Inc. will post $0.98 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 5th. Stockholders of record on Monday, August 15th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 3.52%.
Several large investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund raised its stake in Speedway Motorsports by 789.3% in the fourth quarter. New York State Common Retirement Fund now owns 95,160 shares of the company’s stock valued at $1,972,000 after buying an additional 84,460 shares during the period. Systematic Financial Management LP purchased a new stake in Speedway Motorsports during the fourth quarter valued at about $2,093,000. Finally, Dimensional Fund Advisors LP raised its stake in Speedway Motorsports by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,023,988 shares of the company’s stock valued at $62,657,000 after buying an additional 8,187 shares during the period.
Speedway Motorsports, Inc (SMI) is engaged in promoting, marketing and sponsoring motorsports activities in the United States. The Company also provides souvenir merchandising services, and food, beverage and hospitality catering services through its subsidiary, SMISC Holdings, Inc (doing business as SMI Properties).
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