International Speedway's profit growth should rise as project investments begin to pay off.
A healthy U.S. consumer continues to help bolster admission spending at narrow-moat International Speedway, allowing ticket prices for Cup event races to tick up in 2017, a trend we expect to continue in the year ahead. We plan to raise our $35 fair value estimate by around $4, with half of the increase stemming from the benefit of tax reform, which has led to an expected rate of 26%-27% in 2018, versus the 31% we had previously modeled in anticipation of such change. The company noted that the ...International Speedway owns motorsports entertainment facilities and promoter of motorsports themed entertainment activities in the U.S. The company's motorsports themed event operations consist primarily of racing events at its motorsports entertainment facilities. The company conducts, either through operations of the particular facility or through its wholly owned subsidiary, Americrown Service Corporation, food and beverage concession operations and catering services, both in suites and chalets. The company's subsidiary, Motor Racing Network, Inc. creates motorsports-related programming content carried on radio stations around the country, as well as on a national satellite radio service, Sirius XM Radio.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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