Speedway Motorsports (TRK) Releases FY 2019 Earnings Guidance

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Speedway Motorsports (NYSE:TRK) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.90-1.10 for the period, compared to the Thomson Reuters consensus estimate of $1.04. The company issued revenue guidance of $450-470 million, compared to the consensus revenue estimate of $475.22 million.

Shares of Speedway Motorsports stock opened at $16.85 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.73 and a quick ratio of 1.61. Speedway Motorsports has a 1-year low of $14.66 and a 1-year high of $18.95. The stock has a market cap of $695.37 million, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of -8.57 and a beta of 0.94.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 3.56%. Speedway Motorsports’s payout ratio is currently 65.93%.

TRK has been the subject of a number of recent analyst reports. ValuEngine downgraded Speedway Motorsports from a hold rating to a sell rating in a report on Saturday, January 19th. TheStreet upgraded Speedway Motorsports from a c+ rating to a b rating in a report on Monday, February 4th. Finally, Zacks Investment Research downgraded Speedway Motorsports from a buy rating to a hold rating in a report on Friday, March 8th.

A hedge fund recently raised its stake in Speedway Motorsports stock. Geode Capital Management LLC lifted its stake in shares of Speedway Motorsports, Inc. (NYSE:TRK) by 5.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,940 shares of the company’s stock after purchasing an additional 6,392 shares during the quarter. Geode Capital Management LLC owned about 0.29% of Speedway Motorsports worth $1,951,000 at the end of the most recent reporting period. 22.23% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Further Reading: Risk Tolerance and Your Investment Decisions

Earnings History and Estimates for Speedway Motorsports (NYSE:TRK)

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