Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Posts Earnings Results, Misses Expectations By $0.16 EPS

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) issued its quarterly earnings data on Thursday. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.16), Zacks reports. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion.

Liberty Media Corporation – Liberty Formula One Series C Price Performance

Liberty Media Corporation – Liberty Formula One Series C stock traded down $0.19 during mid-day trading on Friday, reaching $106.33. 3,445,435 shares of the company traded hands, compared to its average volume of 2,341,325. Liberty Media Corporation – Liberty Formula One Series C has a fifty-two week low of $80.15 and a fifty-two week high of $108.35. The company has a market capitalization of $23.85 billion, a price-to-earnings ratio of 122.22 and a beta of 0.46. The firm’s fifty day moving average is $94.54 and its two-hundred day moving average is $92.18.

Liberty Media Corporation – Liberty Formula One Series C News Roundup

Here are the key news stories impacting Liberty Media Corporation – Liberty Formula One Series C this week:

• Positive Sentiment: Wells Fargo raised its price target to $113 from $96, indicating about 6.3% potential upside from the cited $106.33 price. The firm maintained an “equal weight” rating, so the higher target is a modestly supportive signal rather than a bullish upgrade. Wells Fargo ratings
• Neutral Sentiment: Liberty Media’s third-quarter revenue rose, and EPS increased to $0.43 from $0.24 a year earlier. The report also said John Malone’s voting power declined to 3%; the articles provided no further details on the implications. Liberty Media Q3 revenue and voting power
• Negative Sentiment: Quarterly EPS of $0.43 missed analyst estimates of $0.56–$0.59, and revenue of $1.23 billion was below the $1.24 billion consensus. The earnings and revenue shortfalls may weigh on investor sentiment despite year-over-year EPS growth. Q3 earnings and revenue results

Analyst Ratings Changes

Several analysts have commented on FWONK shares. Zacks Research lowered shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 29th. Guggenheim lifted their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $125.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series C in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong sell” rating to a “sell” rating in a research report on Saturday. Finally, UBS Group raised their target price on shares of Liberty Media Corporation – Liberty Formula One Series C from $104.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.62.

Liberty Media Corporation – Liberty Formula One Series C Company Profile

Liberty Media Corporation’s Liberty Formula One Series C stock (NASDAQ: FWONK) is a tracking stock associated with the company’s Formula One Group. The group’s principal business is Formula 1, the international motorsport series, which organizes and promotes races and manages the championship’s commercial rights, including media, sponsorship, licensing and race-promotion activities.

Formula 1 has held world championship races since 1950 and serves a global audience, with events staged across multiple continents.