$670.95 Million in Sales Expected for Formula One Group (NASDAQ:FWONK) This Quarter

Analysts forecast that Formula One Group (NASDAQ:FWONKGet Rating) will announce sales of $670.95 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Formula One Group’s earnings, with estimates ranging from $666.08 million to $675.81 million. Formula One Group reported sales of $501.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 33.9%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Formula One Group will report full-year sales of $2.43 billion for the current fiscal year, with estimates ranging from $2.43 billion to $2.44 billion. For the next financial year, analysts forecast that the company will report sales of $2.70 billion, with estimates ranging from $2.68 billion to $2.73 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow 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 (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.81). The company had revenue of $787.00 million during the quarter, compared to analysts’ expectations of $726.07 million. Formula One Group had a negative net margin of 7.73% and a negative return on equity of 0.97%.

Several research analysts have commented on FWONK shares. Morgan Stanley lifted their price target 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. Rosenblatt Securities assumed coverage on Formula One Group in a report on Monday, April 25th. They issued a “buy” rating and a $81.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Formula One Group from $65.00 to $77.00 in a report on Thursday, April 21st. StockNews.com assumed coverage on Formula One Group in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research downgraded Formula One Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Formula One Group presently has a consensus rating of “Hold” and a consensus target price of $62.43.

FWONK stock traded up $0.49 during trading on Monday, hitting $62.54. 25,784 shares of the company’s stock were exchanged, compared to its average volume of 1,336,453. The business has a 50-day moving average price of $64.59 and a two-hundred day moving average price of $62.03. The stock has a market capitalization of $14.45 billion, a price-to-earnings ratio of -80.58 and a beta of 1.23. Formula One Group has a 52-week low of $43.25 and a 52-week high of $71.17. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.92.

In other Formula One Group news, major shareholder Gamco Investors, Inc. Et Al bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 20th. The stock was acquired at an average cost of $28.02 per share, with a total value of $140,100.00. Following the completion of the purchase, the insider now directly owns 5,000 shares in the company, valued at $140,100. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders bought 12,000 shares of company stock valued at $328,850.

A number of institutional investors have recently added to or reduced their stakes in FWONK. First Trust Advisors LP increased its stake in shares of Formula One Group by 38.0% during the 1st quarter. First Trust Advisors LP now owns 86,656 shares of the company’s stock worth $3,037,000 after purchasing an additional 23,853 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Formula One Group by 1.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 19,439 shares of the company’s stock valued at $998,000 after purchasing an additional 264 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of Formula One Group by 84.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 490 shares of the company’s stock worth $25,000 after purchasing an additional 225 shares in the last quarter. Pinnacle Holdings LLC acquired a new stake in shares of Formula One Group during the 3rd quarter worth about $52,000. Finally, Schroder Investment Management Group increased its position in shares of Formula One Group by 7.9% during the 3rd quarter. Schroder Investment Management Group now owns 13,032 shares of the company’s stock worth $670,000 after purchasing an additional 949 shares in the last quarter. Hedge funds and other institutional investors own 89.48% 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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Earnings History and Estimates for Formula One Group (NASDAQ:FWONK)

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