Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) Posts Earnings Results, Misses Estimates By $0.16 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 analysts’ consensus estimates of $0.59 by ($0.16), Zacks 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 C Trading Down 0.2%

Shares of FWONK traded down $0.19 during trading hours on Friday, hitting $106.33. 3,445,435 shares of the stock traded hands, compared to its average volume of 2,341,325. Liberty Media Corporation – Liberty Formula One Series C has a 1-year low of $80.15 and a 1-year high of $108.35. The firm has a market capitalization of $23.85 billion, a PE ratio of 122.22 and a beta of 0.46. The business has a fifty day moving average of $94.54 and a 200-day moving average of $92.18.

Analysts Set New Price Targets

A number of brokerages have commented on FWONK. JPMorgan Chase & Co. increased their price objective on shares of Liberty Media Corporation – Liberty Formula One Series C from $124.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Wall Street Zen raised shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong sell” rating to a “sell” rating in a research note on Saturday. Zacks Research lowered shares of Liberty Media Corporation – Liberty Formula One Series C from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 29th. Susquehanna reduced their target price on shares of 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. Finally, Sanford C. Bernstein increased their price target 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 given a Hold rating to the company’s stock. According to data from MarketBeat.com, Liberty Media Corporation – Liberty Formula One Series C currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.62.

Liberty Media Corporation – Liberty Formula One Series C News Summary

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

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.