Wells Fargo Maintains Market Perform Rating On International Speedway Corporation (ISCA)

Analysts Timothy Conder, Joe Lachky and Michael K. Walsh at Wells Fargo have released an update on International Speedway Corporation (NASDAQ: ISCA). The company reported its first-quarter results on Thursday.

Following the first-quarter results, analysts have lowered their FY10 and FY11 EPS estimate slightly. FY10 EPS estimate has been lowered from $1.71 to $1.64, while FY11 EPS estimate has been lowered from $1.79 to $1.73.

According to analysts, although the company is well-positioned as the leader in motorsports entertainment, there are several concerns facing it such as slowing consumer spending due to a weakening economy given that the income of fans attending NASCAR events is modestly below the national median, and challenges identifying reinvestment opportunities providing an acceptable return.

Analysts at Wells Fargo have maintained their Market Perform rating for International Speedway Corporation.