Formula One Group (NASDAQ:FWONK – Get Free Report) has been assigned an average recommendation of “Hold” from the seven research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $95.33.
A number of research firms recently commented on FWONK. Morgan Stanley reduced their price target on Formula One Group from $115.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Wells Fargo & Company reduced their target price on Formula One Group from $83.00 to $80.00 and set an “underweight” rating for the company in a research note on Friday, February 28th. Seaport Res Ptn cut Formula One Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $102.00 price target on shares of Formula One Group in a report on Friday, March 7th. Finally, StockNews.com downgraded shares of Formula One Group from a “hold” rating to a “sell” rating in a report on Monday, November 18th.
View Our Latest Report on Formula One Group
Institutional Investors Weigh In On Formula One Group
Formula One Group Stock Up 2.0 %
Shares of FWONK stock opened at $87.66 on Friday. Formula One Group has a 12 month low of $64.37 and a 12 month high of $102.33. The company’s fifty day simple moving average is $93.65 and its 200-day simple moving average is $87.06. The firm has a market cap of $21.85 billion, a PE ratio of 76.23 and a beta of 0.13.
Formula One Group (NASDAQ:FWONK – Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($1.45). The company had revenue of $20.71 billion during the quarter, compared to analyst estimates of $1.37 billion. On average, equities analysts predict that Formula One Group will post 1.36 earnings per share for the current fiscal year.
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.
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