Formula One Group (FWONA) Expected to Announce Earnings on Thursday

Formula One Group (NASDAQ:FWONA) is expected to release its earnings data before the market opens on Thursday, February 27th. Analysts expect Formula One Group to post earnings of $0.43 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 Stock Performance

Shares of Formula One Group stock opened at $90.54 on Tuesday. The stock has a market capitalization of $22.52 billion, a PE ratio of 78.73 and a beta of 0.14. Formula One Group has a 52-week low of $57.43 and a 52-week high of $95.33. The company has a 50-day simple moving average of $86.76 and a two-hundred day simple moving average of $78.42.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FWONA. Seaport Res Ptn cut shares of Formula One Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Benchmark reaffirmed a “buy” rating and issued a $81.00 target price on shares of Formula One Group in a report on Thursday, November 14th. Finally, Wells Fargo & Company started coverage on shares of Formula One Group in a report on Monday. They issued an “underweight” rating and a $83.00 target price for the company.

Insider Transactions at Formula One Group

In related news, CEO Gregory B. Maffei sold 35,463 shares of the business’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 approximately $88,753,351.05. The trade was a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.83% of the company’s stock.

Formula One Group Company Profile

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.