Speedway Motorsports, Inc. (TRK) to Issue Quarterly Dividend of $0.15

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Speedway Motorsports, Inc. (NYSE:TRK) declared a quarterly dividend on Wednesday, April 24th, Wall Street Journal reports. Investors of record on Wednesday, May 15th will be paid a dividend of 0.15 per share on Wednesday, June 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Tuesday, May 14th.

Speedway Motorsports has a payout ratio of 57.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Speedway Motorsports to earn $0.96 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 62.5%.

NYSE:TRK traded up $4.61 during trading hours on Wednesday, hitting $18.55. The company’s stock had a trading volume of 689,268 shares, compared to its average volume of 52,227. The firm has a market capitalization of $561.12 million, a PE ratio of 18.56, a price-to-earnings-growth ratio of -7.24 and a beta of 0.93. The company has a quick ratio of 1.59, a current ratio of 1.70 and a debt-to-equity ratio of 0.21. Speedway Motorsports has a twelve month low of $13.47 and a twelve month high of $18.78.

Speedway Motorsports (NYSE:TRK) last released its quarterly earnings data on Wednesday, March 13th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The business had revenue of $56.36 million during the quarter. Speedway Motorsports had a net margin of 8.94% and a return on equity of 4.42%. On average, analysts anticipate that Speedway Motorsports will post 0.95 EPS for the current fiscal year.

An institutional investor recently raised its position in Speedway Motorsports stock. Geode Capital Management LLC boosted its holdings in Speedway Motorsports, Inc. (NYSE:TRK) by 5.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 119,940 shares of the company’s stock after buying an additional 6,392 shares during the quarter. Geode Capital Management LLC owned approximately 0.29% of Speedway Motorsports worth $1,951,000 at the end of the most recent reporting period. 22.90% of the stock is owned by institutional investors and hedge funds.

Several analysts recently weighed in on the company. TheStreet raised Speedway Motorsports from a “c+” rating to a “b” rating in a research note on Monday, February 4th. ValuEngine raised Speedway Motorsports from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Zacks Investment Research lowered Speedway Motorsports from a “buy” rating to a “hold” rating in a research note on Friday, March 8th.

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Speedway Motorsports Company Profile

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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Dividend History for Speedway Motorsports (NYSE:TRK)

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