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

Formula One Group (NASDAQ:FWONA) is projected 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 Price Performance

FWONA opened at $90.54 on Tuesday. The firm has a market cap of $22.52 billion, a P/E ratio of 78.73 and a beta of 0.14. Formula One Group has a 1-year low of $57.43 and a 1-year 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.

Analysts Set New Price Targets

A number of research firms have weighed in on FWONA. Wells Fargo & Company began coverage on shares of Formula One Group in a research report on Monday. They issued an “underweight” rating and a $83.00 price target for the company. Benchmark reissued a “buy” rating and issued a $81.00 target price on shares of Formula One Group in a report on Thursday, November 14th. Finally, Seaport Res Ptn downgraded shares of Formula One Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th.

Insider Transactions at Formula One Group

In related 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 sale, the chief executive officer now owns 1,240,785 shares of the company’s stock, valued at $88,753,351.05. This represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.