Formula One Group (NASDAQ:FWONK - Get Free Report) is expected to be issuing its quarterly earnings data before the market opens on Thursday, February 27th. Analysts expect the company to announce earnings of $0.42 per share and revenue of $1.37 billion for the quarter. Individual that wish to register for the company's earnings conference call can do so using this link.
Formula One Group Stock Down 1.0 %
FWONK traded down $0.97 during midday trading on Friday, reaching $96.89. 864,935 shares of the company's stock were exchanged, compared to its average volume of 1,031,342. The firm has a market capitalization of $24.10 billion, a price-to-earnings ratio of 84.25 and a beta of 0.11. The business has a 50-day simple moving average of $94.71 and a two-hundred day simple moving average of $85.28. Formula One Group has a one year low of $64.37 and a one year high of $102.33.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on FWONK. Rosenblatt Securities lifted their price target on shares of Formula One Group from $93.00 to $102.00 and gave the stock a "buy" rating in a report on Friday, January 10th. Morgan Stanley upgraded shares of Formula One Group from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $95.00 to $115.00 in a research note on Wednesday, December 18th. Seaport Res Ptn lowered shares of Formula One Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 4th. Finally, StockNews.com cut shares of Formula One Group from a "hold" rating to a "sell" rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $98.00.
Get Our Latest Stock Analysis on FWONK
Insider Buying and Selling
In other news, CEO Gregory B. Maffei sold 35,463 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $71.53, for a total value of $2,536,668.39. Following the sale, the chief executive officer now directly owns 1,240,785 shares in the company, valued at approximately $88,753,351.05. This trade represents a 2.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.31% of the company's stock.
About Formula One Group
(
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Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.
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