Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) Posts Earnings Results, Misses Expectations By $0.13 EPS

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) announced its quarterly earnings results on Thursday. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.13), FiscalAI reports. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion.

Liberty Media Corporation – Liberty Formula One Series A Trading Up 1.3%

FWONA traded up $1.29 during trading hours on Friday, hitting $101.01. The company’s stock had a trading volume of 527,889 shares, compared to its average volume of 220,178. The company has a 50-day simple moving average of $86.89 and a 200 day simple moving average of $84.65. The firm has a market capitalization of $25.30 billion, a PE ratio of 116.10 and a beta of 0.52. Liberty Media Corporation – Liberty Formula One Series A has a fifty-two week low of $73.70 and a fifty-two week high of $102.00.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FWONA. Guggenheim raised their target price on Liberty Media Corporation – Liberty Formula One Series A from $116.00 to $124.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Citigroup restated a “market outperform” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research report on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a report on Monday, September 21st. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $114.67.

About Liberty Media Corporation – Liberty Formula One Series A

Liberty Media Corporation’s Liberty Formula One Group is a tracking-stock group whose principal business is Formula 1, the international motor-racing series. Formula 1 organizes and promotes the FIA Formula One World Championship and commercializes its media, sponsorship, licensing, hospitality and other related rights.

The business serves a global audience, with races, broadcast distribution and commercial partnerships spanning multiple regions. Its activities include working with race promoters, teams, broadcasters and sponsors, as well as developing digital content and experiences for fans.

Liberty Media acquired Formula 1 in 2017.