What is Seaport Res Ptn's Forecast for FWONA Q4 Earnings?

Formula One Group (NASDAQ:FWONA - Free Report) - Equities research analysts at Seaport Res Ptn boosted their Q4 2024 EPS estimates for Formula One Group in a report released on Thursday, November 7th. Seaport Res Ptn analyst D. Joyce now anticipates that the company will earn $0.62 per share for the quarter, up from their previous forecast of $0.52. The consensus estimate for Formula One Group's current full-year earnings is $1.23 per share. Seaport Res Ptn also issued estimates for Formula One Group's FY2028 earnings at $1.56 EPS.

Formula One Group (NASDAQ:FWONA - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.24). The firm had revenue of $853.00 million for the quarter, compared to analyst estimates of $1.04 billion.

Separately, Benchmark lifted their target price on Formula One Group from $77.00 to $81.00 and gave the stock a "buy" rating in a research report on Friday, August 9th.

Formula One Group Trading Up 0.4 %

NASDAQ:FWONA traded up $0.31 during midday trading on Monday, hitting $75.31. 116,706 shares of the company were exchanged, compared to its average volume of 99,769. Formula One Group has a fifty-two week low of $55.25 and a fifty-two week high of $79.67. The company has a market capitalization of $17.70 billion, a PE ratio of 71.32 and a beta of 0.05. The company has a fifty day simple moving average of $72.14 and a 200 day simple moving average of $69.01.

Insider Transactions at Formula One Group

In related news, Director Andrea L. Wong sold 1,604 shares of the company's stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $47.41, for a total value of $76,045.64. Following the completion of the sale, the director now owns 5,274 shares in the company, valued at $250,040.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Andrea L. Wong sold 1,604 shares of the business's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $47.41, for a total value of $76,045.64. Following the transaction, the director now owns 5,274 shares in the company, valued at $250,040.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Renee L. Wilm sold 19,202 shares of the company's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $78.78, for a total value of $1,512,733.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,817 shares of company stock worth $2,327,591. Insiders own 4.83% of the company's stock.

Institutional Investors Weigh In On Formula One Group

An institutional investor recently raised its position in Formula One Group stock. Janney Montgomery Scott LLC increased its stake in shares of Formula One Group (NASDAQ:FWONA - Free Report) by 13.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,413 shares of the company's stock after buying an additional 1,600 shares during the period. Janney Montgomery Scott LLC's holdings in Formula One Group were worth $788,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 8.38% of the company's stock.

Formula One Group Company Profile

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.