Zacks: Brokerages Expect Liberty Media Formula One Series C (NASDAQ:FWONK) Will Announce Quarterly Sales of $632.52 Million

Wall Street analysts expect Liberty Media Formula One Series C (NASDAQ:FWONK) to announce sales of $632.52 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Liberty Media Formula One Series C’s earnings, with the lowest sales estimate coming in at $629.00 million and the highest estimate coming in at $636.03 million. Liberty Media Formula One Series C reported sales of $647.00 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.2%. The company is expected to report its next quarterly earnings results on Thursday, November 14th.

On average, analysts expect that Liberty Media Formula One Series C will report full-year sales of $2.03 billion for the current financial year, with estimates ranging from $2.02 billion to $2.04 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.16 billion, with estimates ranging from $2.14 billion to $2.18 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Liberty Media Formula One Series C.

Several brokerages recently commented on FWONK. ValuEngine raised Liberty Media Formula One Series C from a “buy” rating to a “strong-buy” rating in a research report on Monday. TheStreet upgraded shares of Liberty Media Formula One Series C from a “d+” rating to a “c” rating in a research report on Friday, May 17th. Zacks Investment Research downgraded shares of Liberty Media Formula One Series C from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. B. Riley upgraded shares of Liberty Media Formula One Series C from a “neutral” rating to a “buy” rating and increased their price target for the company from $35.00 to $46.00 in a research report on Thursday, May 16th. Finally, JPMorgan Chase & Co. upgraded shares of Liberty Media Formula One Series C from a “neutral” rating to an “overweight” rating and increased their price target for the company from $38.00 to $50.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $43.50.

Shares of FWONK stock opened at $40.91 on Monday. The company has a market capitalization of $9.22 billion, a PE ratio of -62.94 and a beta of 0.98. Liberty Media Formula One Series C has a one year low of $27.51 and a one year high of $41.47. The business has a fifty day moving average price of $38.68. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.44 and a current ratio of 0.44.

Institutional investors and hedge funds have recently bought and sold shares of the company. Icon Wealth Partners LLC acquired a new position in Liberty Media Formula One Series C in the first quarter valued at approximately $28,000. Twin Tree Management LP purchased a new stake in Liberty Media Formula One Series C during the 1st quarter worth about $79,000. Osborn Williams & Donohoe LLC purchased a new stake in Liberty Media Formula One Series C during the 1st quarter worth about $93,000. Robeco Institutional Asset Management B.V. lifted its holdings in Liberty Media Formula One Series C by 17.4% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 5,263 shares of the company’s stock worth $196,000 after purchasing an additional 779 shares in the last quarter. Finally, LPL Financial LLC purchased a new stake in Liberty Media Formula One Series C during the 2nd quarter worth about $201,000. 90.82% of the stock is owned by institutional investors.

About Liberty Media Formula One Series C

Formula One Group operates in the motorsports business. It holds commercial rights for the world championship, a motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship. The company is based in Englewood, Colorado.

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