Formula One Group (FWONK) to Release Earnings on Friday

Formula One Group (NASDAQ:FWONK – Get Rating) is set to release its earnings data before the market opens on Friday, May 6th. Analysts expect Formula One Group to post earnings of ($0.17) per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Formula One Group (NASDAQ:FWONK – Get Rating) last announced its earnings results on Friday, February 25th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.81). The company had revenue of $787.00 million for the quarter, compared to the consensus estimate of $726.07 million. Formula One Group had 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 $0 EPS for the current fiscal year and $1 EPS 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-to-equity 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 issued reports on the company. Rosenblatt Securities assumed coverage on Formula One Group in a research report on Monday. They set a “buy” rating and a $81.00 target price on the stock. JPMorgan Chase & Co. increased their target price on Formula One Group from $65.00 to $77.00 in a research report on Thursday, April 21st. StockNews.com assumed coverage on Formula One Group in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research raised Formula One Group from a “sell” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Monday. Finally, Morgan Stanley raised their price objective 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 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently 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 firm’s stock in a transaction that occurred on Wednesday, April 20th. The stock was 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’s stock, valued at approximately $140,100. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders have acquired 11,000 shares of company stock valued at $302,800.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System boosted 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’s stock valued at $16,557,000 after buying an additional 4,562 shares during the last quarter. Parametric Portfolio Associates LLC grew 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’s stock worth $16,497,000 after purchasing an additional 13,528 shares during the period. Allstate Corp grew 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’s stock worth $1,444,000 after purchasing an additional 16,749 shares during the period. Finally, Metropolitan Life Insurance Co NY acquired a new stake in shares of Formula One Group during the 4th quarter worth approximately $250,000. Hedge funds and other institutional investors own 84.64% of the company’s stock.

Formula One Group Company Profile (Get Rating)

Formula One Group engages in the motorsports business in the United States and internationally. It holds commercial rights for the 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.

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