Formula One Group (FWONA) Expected to Announce Quarterly Earnings on Wednesday

Formula One Group (NASDAQ:FWONA - Get Free Report) is expected to be posting its quarterly earnings results before the market opens on Wednesday, May 7th. Analysts expect Formula One Group to post earnings of $0.02 per share and revenue of $440.80 million for the quarter.

Formula One Group (NASDAQ:FWONA - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($1.46). The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.37 billion. On average, analysts expect Formula One Group to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Formula One Group Stock Up 1.2 %

Shares of FWONA traded up $0.99 during mid-day trading on Monday, hitting $84.42. 35,517 shares of the company's stock were exchanged, compared to its average volume of 111,467. Formula One Group has a 52 week low of $61.27 and a 52 week high of $95.33. The stock's 50-day simple moving average is $78.81 and its 200-day simple moving average is $81.45. The firm has a market cap of $21.04 billion, a price-to-earnings ratio of 73.43 and a beta of 0.40.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company started coverage on Formula One Group in a research report on Monday, February 24th. They issued an "underweight" rating and a $83.00 price target on the stock. Seaport Res Ptn raised shares of Formula One Group from a "hold" rating to a "strong-buy" rating in a report on Saturday, March 15th. Susquehanna initiated coverage on shares of Formula One Group in a report on Monday, April 28th. They set a "positive" rating and a $115.00 price target for the company. Finally, Guggenheim reissued a "buy" rating on shares of Formula One Group in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Formula One Group currently has a consensus rating of "Moderate Buy" and an average price target of $90.50.

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.