Why International Speedway (ISCA) Stock Is Gaining This Morning

NEW YORK (TheStreet) -- Shares of International Speedway Corp. (ISCA) are higher by 4.29% to $35 in pre-market trading on Thursday morning after the company reported an increase in revenue to $190.3 million for the 2014 second quarter, compared to $178.4 million in the prior year quarter.

However, the motorsports entertainment company posted a decrease in net income to $21.5 million, or 46 cents per diluted share for the most recent quarter versus $22.4 million, or 48 cents per diluted share for the 2013 second quarter.

Non-GAAP net income was $23.7 million, or 51 cents per share for the quarter. Analysts polled by Thomson Reuters expected non-GAAP income of 49 cents per share for the 2014 second quarter.

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International Speedway reaffirmed its full year 2014 guidance for EPS between $1.30 and $1.50 per share on revenue between $635 million and $650 million. Analysts are expecting EPS of $1.40 on revenue of $637.30 million.

Separately, TheStreet Ratings team rates INTL SPEEDWAY CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate INTL SPEEDWAY CORP (ISCA) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, increase in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."

ISCA Chart ISCA data by YCharts

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