Formula One Group (FWONK) Expected to Announce Quarterly Earnings on Thursday

Formula One Group (NASDAQ:FWONK) is expected to issue 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. Parties interested in listening to the company’s conference call can do so using this link.

Formula One Group Stock Up 1.1 %

Shares of NASDAQ:FWONK opened at $98.29 on Thursday. The company has a market cap of $24.45 billion, a P/E ratio of 85.47 and a beta of 0.11. Formula One Group has a 52 week low of $64.37 and a 52 week high of $102.33. The company has a 50-day moving average price of $94.65 and a 200 day moving average price of $85.20.

Insider Buying and Selling at Formula One Group

In related news, CEO Gregory B. Maffei sold 35,463 shares of Formula One Group stock in a transaction on Monday, December 16th. The shares were sold at an average price of $71.53, for a total transaction of $2,536,668.39. Following the transaction, the chief executive officer now owns 1,240,785 shares in the company, valued at approximately $88,753,351.05. The trade was a 2.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FWONK shares. Morgan Stanley raised shares of Formula One Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $95.00 to $115.00 in a research note on Wednesday, December 18th. Seaport Res Ptn cut shares of Formula One Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 4th. StockNews.com lowered shares of Formula One Group from a “hold” rating to a “sell” rating in a research report on Monday, November 18th. Finally, Rosenblatt Securities raised their target price on shares of Formula One Group from $93.00 to $102.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. One 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. Based on data from MarketBeat.com, Formula One Group presently has a consensus rating of “Hold” and a consensus price target of $98.00.

About Formula One Group

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.