Formula One Group (FWONK) to Release Earnings on Thursday

Formula One Group (NASDAQ:FWONK) will likely be releasing its earnings data before the market opens on Thursday, February 27th. Analysts expect Formula One Group to post earnings of $0.42 per share and revenue of $1.37 billion for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Formula One Group Trading Up 0.2 %

Shares of FWONK stock opened at $97.00 on Tuesday. The stock has a market cap of $24.12 billion, a P/E ratio of 84.35 and a beta of 0.11. The stock has a 50 day simple moving average of $94.77 and a 200 day simple moving average of $85.72. Formula One Group has a 1 year low of $64.37 and a 1 year high of $102.33.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FWONK. StockNews.com cut Formula One Group from a “hold” rating to a “sell” rating in a research note on Monday, November 18th. Seaport Res Ptn cut Formula One Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 4th. Rosenblatt Securities boosted their price target on Formula One Group from $93.00 to $102.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Morgan Stanley upgraded Formula One Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $95.00 to $115.00 in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $98.00.

Insiders Place Their Bets

In other news, CEO Gregory B. Maffei sold 35,463 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 1,240,785 shares in the company, valued at approximately $88,753,351.05. This represents a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.31% of the company’s stock.

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.