$290.02 Million in Sales Expected for Formula One Group (NASDAQ:FWONK) This Quarter

Equities analysts forecast that Formula One Group (NASDAQ:FWONKGet Rating) will report sales of $290.02 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Formula One Group’s earnings, with the lowest sales estimate coming in at $285.25 million and the highest estimate coming in at $294.78 million. Formula One Group posted sales of $180.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 61.1%. The firm is expected to issue its next earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Formula One Group will report full year sales of $2.40 billion for the current year, with estimates ranging from $2.38 billion to $2.43 billion. For the next fiscal year, analysts anticipate that the business will report sales of $2.60 billion, with estimates ranging from $2.58 billion to $2.62 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Formula One Group.

Formula One Group (NASDAQ:FWONKGet Rating) last announced its quarterly earnings data on Friday, February 25th. The company reported ($0.64) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.81). Formula One Group had a negative net margin of 8.90% and a negative return on equity of 1.01%. The business had revenue of $787.00 million during the quarter, compared to analysts’ expectations of $726.07 million.

Several equities analysts have issued reports on FWONK shares. StockNews.com started coverage on Formula One Group in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research cut Formula One Group from a “hold” rating to a “sell” rating in a report on Monday, April 11th. JPMorgan Chase & Co. upped their price target on Formula One Group from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, February 23rd. Finally, Morgan Stanley upped their price target on Formula One Group from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $55.83.

NASDAQ FWONK traded down $0.51 on Monday, hitting $68.15. 856,313 shares of the company’s stock were exchanged, compared to its average volume of 1,317,297. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.73 and a quick ratio of 0.73. The firm’s 50-day moving average price is $63.54 and its two-hundred day moving average price is $60.69. Formula One Group has a fifty-two week low of $42.84 and a fifty-two week high of $70.55. The firm has a market cap of $15.75 billion, a price-to-earnings ratio of -83.11 and a beta of 1.23.

Several institutional investors have recently modified their holdings of the business. First Trust Advisors LP raised its position in shares of Formula One Group by 38.0% in the 1st quarter. First Trust Advisors LP now owns 86,656 shares of the company’s stock worth $3,037,000 after buying an additional 23,853 shares during the period. New York State Common Retirement Fund raised its position in shares of Formula One Group by 1.8% in the 3rd quarter. New York State Common Retirement Fund now owns 241,958 shares of the company’s stock worth $12,439,000 after buying an additional 4,227 shares during the period. Thompson Siegel & Walmsley LLC raised its position in shares of Formula One Group by 6.7% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 53,977 shares of the company’s stock worth $2,775,000 after buying an additional 3,384 shares during the period. Russell Investments Group Ltd. raised its position in shares of Formula One Group by 1.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 19,439 shares of the company’s stock worth $998,000 after buying an additional 264 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its position in shares of Formula One Group by 84.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 490 shares of the company’s stock worth $25,000 after buying an additional 225 shares during the period. 84.64% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for Formula One Group (NASDAQ:FWONK)

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