Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Announces Earnings Results

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) issued its earnings results on Thursday. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.16), Zacks reports. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Liberty Media Corporation – Liberty Formula One Series C stock traded down $0.19 during midday trading on Friday, hitting $106.33. 3,445,435 shares of the company’s stock were exchanged, compared to its average volume of 2,341,325. The company has a market cap of $23.85 billion, a P/E ratio of 122.22 and a beta of 0.46. The stock has a 50-day moving average price of $94.54 and a two-hundred day moving average price of $92.18. Liberty Media Corporation – Liberty Formula One Series C has a 52-week low of $80.15 and a 52-week high of $108.35.

Trending Headlines about Liberty Media Corporation – Liberty Formula One Series C

Here are the key news stories impacting Liberty Media Corporation – Liberty Formula One Series C this week:

• Positive Sentiment: Wells Fargo raised its price target to $113 from $96, indicating about 6.3% potential upside from the cited $106.33 price. The firm maintained an “equal weight” rating, so the higher target is a modestly supportive signal rather than a bullish upgrade. Wells Fargo ratings
• Neutral Sentiment: Liberty Media’s third-quarter revenue rose, and EPS increased to $0.43 from $0.24 a year earlier. The report also said John Malone’s voting power declined to 3%; the articles provided no further details on the implications. Liberty Media Q3 revenue and voting power
• Negative Sentiment: Quarterly EPS of $0.43 missed analyst estimates of $0.56–$0.59, and revenue of $1.23 billion was below the $1.24 billion consensus. The earnings and revenue shortfalls may weigh on investor sentiment despite year-over-year EPS growth. Q3 earnings and revenue results

Wall Street Analysts Forecast Growth

FWONK has been the subject of several recent research reports. Susquehanna reduced their price target on Liberty Media Corporation – Liberty Formula One Series C from $114.00 to $110.00 and set a “positive” rating for the company in a research report on Friday, October 16th. Wells Fargo & Company increased their price target on shares of Liberty Media Corporation – Liberty Formula One Series C from $96.00 to $113.00 and gave the stock an “equal weight” rating in a report on Friday. Zacks Research downgraded shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 29th. Guggenheim raised their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $125.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Finally, Sanford C. Bernstein boosted their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $115.00 to $119.00 and gave the company an “outperform” rating in a research note on Tuesday, July 28th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $117.62.

About Liberty Media Corporation – Liberty Formula One Series C

Liberty Media Corporation’s Liberty Formula One Series C stock (NASDAQ: FWONK) is a tracking stock associated with the company’s Formula One Group. The group’s principal business is Formula 1, the international motorsport series, which organizes and promotes races and manages the championship’s commercial rights, including media, sponsorship, licensing and race-promotion activities.

Formula 1 has held world championship races since 1950 and serves a global audience, with events staged across multiple continents.