Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Issues Earnings Results, Misses Expectations By $0.13 EPS

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) released 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), Zacks reports. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.24 billion.

Liberty Media Corporation – Liberty Formula One Series C Stock Performance

Shares of FWONK stock traded down $0.19 during trading hours on Friday, hitting $106.33. 3,445,435 shares of the company were exchanged, compared to its average volume of 2,341,325. Liberty Media Corporation – Liberty Formula One Series C has a one year low of $80.15 and a one year high of $108.35. The business’s 50-day simple moving average is $94.54 and its two-hundred day simple moving average is $92.18. The stock has a market capitalization of $23.85 billion, a price-to-earnings ratio of 138.90 and a beta of 0.46.

Analysts Set New Price Targets

FWONK has been the subject of a number of analyst reports. Sanford C. Bernstein upped 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 report on Tuesday, July 28th. Susquehanna dropped their target price on Liberty Media Corporation – Liberty Formula One Series C from $114.00 to $110.00 and set a “positive” rating on the stock in a research report on Friday, October 16th. Wells Fargo & Company boosted their price target on Liberty Media Corporation – Liberty Formula One Series C from $96.00 to $113.00 and gave the stock an “equal weight” rating in a research note on Friday. Wall Street Zen downgraded Liberty Media Corporation – Liberty Formula One Series C from a “sell” rating to a “strong sell” rating in a report on Sunday, October 11th. Finally, JPMorgan Chase & Co. raised their price objective on Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock 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 tracking stock represents an economic interest in the company’s Formula One Group. The group is centered on Formula 1, the global motorsport championship that organizes and promotes Grand Prix racing, manages commercial rights, and coordinates the sport’s international media, sponsorship, hospitality and licensing activities.

Formula 1 serves a worldwide audience through its race calendar, broadcast and digital content, live-event experiences, sponsorship programs and official merchandise.