Formula One Group (FWONK) to Release Earnings on Thursday

Formula One Group (NASDAQ:FWONK) is expected to release 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 that wish to register for the company’s earnings conference call can do so using this link.

Formula One Group Price Performance

Shares of NASDAQ FWONK opened at $97.00 on Tuesday. The stock has a market capitalization of $24.12 billion, a price-to-earnings ratio of 84.35 and a beta of 0.11. The business has a 50-day moving average of $94.77 and a 200-day moving average of $85.72. Formula One Group has a fifty-two week low of $64.37 and a fifty-two week high of $102.33.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Formula One Group news, CEO Gregory B. Maffei sold 35,463 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,240,785 shares in the company, valued at $88,753,351.05. This trade represents a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company 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.