Liberty Media Formula One Series C (NASDAQ:FWONK) to Post Q3 2019 Earnings of $0.07 Per Share, B. Riley Forecasts – Mayfield Recorder


Liberty Media Formula One Series C (NASDAQ:FWONK) – Analysts at B. Riley increased their Q3 2019 earnings per share (EPS) estimates for Liberty Media Formula One Series C in a report released on Thursday, August 15th. B. Riley analyst Z. Silver now forecasts that the company will earn $0.07 per share for the quarter, up from their prior forecast of ($0.24). B. Riley has a “Buy” rating and a $46.00 price target on the stock. B. Riley also issued estimates for Liberty Media Formula One Series C’s Q4 2019 earnings at ($0.37) EPS, FY2019 earnings at ($1.27) EPS, FY2020 earnings at ($0.56) EPS, FY2021 earnings at ($0.08) EPS, FY2022 earnings at $0.39 EPS and FY2023 earnings at $0.84 EPS.

A number of other brokerages have also commented on FWONK. Zacks Investment Research lowered shares of Liberty Media Formula One Series C from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. ValuEngine upgraded shares of Liberty Media Formula One Series C from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. TheStreet upgraded shares of Liberty Media Formula One Series C from a “d+” rating to a “c” rating in a research note on Friday, May 17th. Finally, JPMorgan Chase & Co. upgraded shares of Liberty Media Formula One Series C from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $38.00 to $50.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Liberty Media Formula One Series C has an average rating of “Buy” and an average price target of $43.50.

Shares of FWONK stock opened at $40.83 on Monday. The company has a 50 day moving average price of $38.86 and a 200-day moving average price of $36.49. Liberty Media Formula One Series C has a 52 week low of $27.51 and a 52 week high of $41.47. The firm has a market capitalization of $9.36 billion, a PE ratio of -62.82 and a beta of 0.98. The company has a quick ratio of 0.44, a current ratio of 0.49 and a debt-to-equity ratio of 0.64.

Hedge funds have recently made changes to their positions in the company. Kontiki Capital Management HK Ltd. grew its position in Liberty Media Formula One Series C by 68.8% during the first quarter. Kontiki Capital Management HK Ltd. now owns 898,729 shares of the company’s stock valued at $31,500,000 after buying an additional 366,199 shares during the period. Millennium Management LLC bought a new stake in Liberty Media Formula One Series C during the fourth quarter valued at approximately $1,398,000. S&CO Inc. grew its position in Liberty Media Formula One Series C by 0.3% during the first quarter. S&CO Inc. now owns 123,229 shares of the company’s stock valued at $4,319,000 after buying an additional 330 shares during the period. State of Alaska Department of Revenue grew its position in Liberty Media Formula One Series C by 1.6% during the first quarter. State of Alaska Department of Revenue now owns 21,287 shares of the company’s stock valued at $746,000 after buying an additional 327 shares during the period. Finally, NN Investment Partners Holdings N.V. bought a new stake in Liberty Media Formula One Series C during the second quarter valued at approximately $1,700,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

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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