B.Riley FBR Maintains a Hold Rating on Formula One Group (FWONA)


In a report issued on August 31, Barton Crockett from B.Riley FBR maintained a Hold rating on Formula One Group (NASDAQ: FWONA), with a price target of $36. The company’s shares closed yesterday at $35.19.

According to TipRanks.com, Crockett is a 4-star analyst with an average return of 5.1% and a 55.3% success rate. Crockett covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, Lions Gate Ent Corp Cl A, and Sirius XM Holdings Inc.

Formula One Group has an analyst consensus of Moderate Buy, with a price target consensus of $43.

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Based on Formula One Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $585 million and net profit of $9 million. In comparison, last year the company earned revenue of $616 million and had a GAAP net loss of $27 million.

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Liberty Media Corp. engages in the operation and ownership of various media, communications, and entertainment businesses. It operates through the SIRIUS XM and Formula 1 segments. The SIRIUS XM provides a subscription based satellite radio service.

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