Formula One Group (FWONK) Scheduled to Post Quarterly Earnings on Wednesday

Formula One Group (NASDAQ:FWONK) will be posting its quarterly earnings results before the market opens on Wednesday, May 8th. Analysts expect Formula One Group to post earnings of $0.14 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Formula One Group (NASDAQ:FWONK) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.06). The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.25 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 Performance

NASDAQ:FWONK opened at $70.55 on Monday. Formula One Group has a 12-month low of $60.95 and a 12-month high of $78.58. The stock’s fifty day simple moving average is $68.86 and its 200-day simple moving average is $66.37.

Analyst Ratings Changes

Separately, StockNews.com cut Formula One Group from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th.

Insider Activity at Formula One Group

In other Formula One Group news, major shareholder Berkshire Hathaway Inc acquired 1,250,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was acquired at an average cost of $27.76 per share, for a total transaction of $34,700,000.00. Following the transaction, the insider now owns 66,736,288 shares of the company’s stock, valued at $1,852,599,354.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought a total of 6,457,501 shares of company stock worth $179,148,132 in the last quarter. Corporate insiders own 4.31% of the company’s stock.

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.