News articles about Speedway Motorsports (NYSE:TRK) have been trending somewhat positive this week, Accern reports. Accern ranks the sentiment of news coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Speedway Motorsports earned a media sentiment score of 0.14 on Accern’s scale. Accern also assigned news coverage about the company an impact score of 44.5455899779495 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Here are some of the media stories that may have impacted Accern Sentiment’s rankings:
- NASCAR approves another coating of PJ1 to track, extra set of tires at Bristol (msn.com)
- Busch looks to beat field, rain at Bristol Motor Speedway (foxsports.com)
- Darrell Waltrip discusses Bristol Motor Speedway during pace car ride-along (wjhl.com)
- Preview: The Food City 500 at Bristol Motor Speedway (thedrive.com)
- Rain halts Food City 500 at Bristol Motor Speedway (nascar.com)
Separately, Zacks Investment Research raised Speedway Motorsports from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Wednesday, January 31st.
Speedway Motorsports (NYSE:TRK) last announced its quarterly earnings data on Wednesday, March 7th. The company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.01). Speedway Motorsports had a return on equity of 4.48% and a net margin of 31.30%. The firm had revenue of $76.41 million for the quarter, compared to analyst estimates of $82.63 million. research analysts expect that Speedway Motorsports will post 1.1 EPS for the current year.
Speedway Motorsports announced that its Board of Directors has authorized a stock buyback program on Wednesday, March 7th that permits the company to buyback 1,000,000 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
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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.
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