Formula One Group (FWONK) will release its results on Friday
Formula 1 Group (NASDAQ:FWONK – Get a rating) is expected to release its earnings data before the market opens on Friday, May 6. Analysts expect Formula One Group to post earnings of ($0.17) per share for the quarter. Those interested in listening to the company’s earnings conference call can do so using this link.
Formula 1 Group (NASDAQ:FWONK – Get a rating) last announced its results on Friday, February 25. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 per ($0.81). The company posted revenue of $787.00 million for the quarter, versus a consensus estimate of $726.07 million. Formula One Group recorded a negative net margin of 8.90% and a negative return on equity of 1.01%. On average, analysts expect Formula One Group to post EPS of $0 for the current fiscal year and EPS of $1 for the next fiscal year.
Shares of NASDAQ FWONK opened at $64.59 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt ratio of 0.86. The stock has a market capitalization of $14.93 billion, a PE ratio of -78.77 and a beta of 1.23. The stock’s fifty-day simple moving average is $64.14 and its two-hundred-day simple moving average is $61.34. Formula One Group has a 12-month low of $42.84 and a 12-month high of $71.17.
Several analysts have published reports on the company. Rosenblatt Securities took over coverage of Formula One Group in a research report on Monday. They set a “buy” rating and a target price of $81.00 on the stock. JPMorgan Chase & Co. raised its target price on Formula One Group from $65.00 to $77.00 in a Thursday, April 21 research report. StockNews.com assumed coverage on Formula One Group in a research report on Thursday, March 31. They have placed a “holding” rating on the stock. Zacks Investment Research elevated Formula One Group from a “sell” rating to a “buy” rating and set a price target of $75.00 for the company in a research report on Monday. Finally, Morgan Stanley raised its price target on Formula One Group from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 26. One research analyst rated the stock with a sell rating, three issued a hold rating and four issued the company a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $62.43.
In other news, major shareholder Gamco Investors, Inc. Et Al bought 5,000 shares of the company in a deal that took place on Wednesday, April 20. The shares were purchased at an average price of $28.02 per share, with a total value of $140,100.00. Following the completion of the acquisition, the insider now directly owns 5,000 shares of the company, valued at approximately $140,100. The purchase was disclosed in a legal filing with the SEC, which is available via this link. Over the past ninety days, insiders have acquired 11,000 shares of the company valued at $302,800.
A number of hedge funds and other institutional investors have recently changed their stock holdings. California State Teachers Retirement System increased its position in Formula One Group by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 261,818 shares of the company valued at $16,557,000 after purchasing an additional 4,562 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Formula One Group by 5.5% during the 4th quarter. Parametric Portfolio Associates LLC now owns 260,869 shares of the company worth $16,497,000 after purchasing an additional 13,528 shares during the period. Allstate Corp increased its stake in shares of Formula One Group by 275.5% during the 4th quarter. Allstate Corp now owns 22,828 shares of the company worth $1,444,000 after purchasing an additional 16,749 shares during the period. Finally, Metropolitan Life Insurance Co NY acquired a new equity stake in Formula One Group during Q4 worth approximately $250,000. Hedge funds and other institutional investors hold 84.64% of the company’s shares.
Formula 1 Group Company Profile (Get a rating)
Formula One Group is active in the motorsport sector in the United States and internationally. It owns the commercial rights to the World Championship, a roughly nine-month motor racing-based competition in which teams compete for the constructors’ championship and drivers compete for the drivers’ championship.
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