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

Speedway Motorsports, Inc. (NYSE:TRK) announced a quarterly dividend on Thursday, July 20th, Wall Street Journal reports. Shareholders of record on Tuesday, August 15th will be given a dividend of 0.15 per share on Tuesday, September 5th. This represents a $0.60 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Friday, August 11th.

Speedway Motorsports has a payout ratio of 60.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Speedway Motorsports to earn $1.05 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 57.1%.

Speedway Motorsports (NYSE:TRK) traded up 0.82% during mid-day trading on Wednesday, reaching $20.85. The company’s stock had a trading volume of 34,514 shares. The company’s 50-day moving average price is $19.38 and its 200 day moving average price is $19.19. The firm has a market capitalization of $854.87 million, a price-to-earnings ratio of 21.79 and a beta of 0.84. Speedway Motorsports has a 52 week low of $16.80 and a 52 week high of $22.29.

Speedway Motorsports (NYSE:TRK) last announced its earnings results on Wednesday, July 26th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Speedway Motorsports had a net margin of 7.66% and a return on equity of 5.33%. The business had revenue of $179.25 million during the quarter. On average, equities analysts forecast that Speedway Motorsports will post $1.00 earnings per share for the current fiscal year.

A number of brokerages have recently commented on TRK. Zacks Investment Research cut shares of Speedway Motorsports from a “hold” rating to a “sell” rating in a report on Saturday, July 15th. BidaskClub raised shares of Speedway Motorsports from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. TheStreet cut shares of Speedway Motorsports from a “b-” rating to a “c+” rating in a report on Tuesday, May 23rd. Finally, Macquarie raised shares of Speedway Motorsports from an “underperform” rating to a “neutral” rating in a report on Friday, May 5th. They noted that the move was a valuation call.

TRADEMARK VIOLATION NOTICE: “[[title]]” was originally reported by [[site]] and is owned by of [[site]]. If you are viewing this news story on another site, it was copied illegally and republished in violation of international trademark & copyright laws. The legal version of this news story can be read at [[permalink]].

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.