.jpg)
Pivotal Research analyst Jeffrey Wlodarczak maintained a Buy rating on Formula One Group (NASDAQ: FWONA) today and set a price target of $53. The company’s shares closed yesterday at $28.82, close to its 52-week low of $27.22.
Wlodarczak said:
“We continue to expect moderate acceleration in F1 revenue and EBITDA in ’18 as ’18 remains a year of investment with management’s primary focus on getting teams aligned around a new Concorde agreement for ’21 and beyond. In ’19 we forecast Liberty’s efforts will begin to pay off with a material acceleration in results on the back of an increase in the number of races, accelerating broadcast [their new 5-year UK broadcast deal alone in ’19 should by itself boost broadcast fee revenue (33% of revs) approx. +~25%] & advertising/sponsorship revenue and the beginning of a material contribution from F1’s recently launched OTT product.”
According to TipRanks.com, Wlodarczak is a 4-star analyst with an average return of 7.7% and a 58.0% success rate. Wlodarczak covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, Charter Communications, and Liberty LiLAC Group.
Formula One Group has an analyst consensus of Strong Buy, with a price target consensus of $42.50.
See today’s analyst top recommended stocks >>
Based on Formula One Group’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $570 million and net profit of $415 million. In comparison, last year the company earned revenue of $96 million and had a GAAP net loss of $96 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
