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Macquarie Thinks Formula One Group’s Stock is Going to Recover


In a report issued on November 28, Amy Yong from Macquarie maintained a Buy rating on Formula One Group (FWONA), with a price target of $40. The company’s shares closed on Friday at $28.82, close to its 52-week low of $27.22.

According to TipRanks.com, Yong is a 4-star analyst with an average return of 4.1% and a 51.1% success rate. Yong covers the Services sector, focusing on stocks such as Liberty Global PLC LiLAC Class A, Live Nation Entertainment, and Madison Square Garden Co.

Currently, the analyst consensus on Formula One Group is a Moderate Buy with an average price target of $41.

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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 $501 million and had a GAAP net loss of $37 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.