Atlanta Braves (BATRK) Expected to Post Quarterly Earnings on Wednesday

Key Points

• Atlanta Braves is expected to report quarterly results before the market opens Wednesday, August 5. Analysts forecast earnings of $0.34 per share on $318.4 million in revenue.
• The company’s previous quarter exceeded expectations, with a loss of $0.63 per share versus the estimated loss of $0.83 and revenue of $72.01 million versus $64.60 million expected.
• BATRK recently traded at $50.72, while analysts maintain a consensus “Hold” rating and an average price target of $64.50; institutional investors own 64.88% of the stock.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) is projected to post its results before the market opens on Wednesday, August 5th. Analysts expect the company to post earnings of $0.34 per share and revenue of $318.4090 million for the quarter.

Atlanta Braves (NASDAQ:BATRK - Get Free Report) last posted its earnings results on Monday, May 11th. The financial services provider reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.20. The company had revenue of $72.01 million for the quarter, compared to analysts' expectations of $64.60 million. On average, analysts expect Atlanta Braves to post $-0 EPS for the current fiscal year and $-0 EPS for the next fiscal year.

Atlanta Braves Stock Down 0.4%

BATRK stock traded down $0.19 during mid-day trading on Wednesday, hitting $50.72. The company had a trading volume of 35,532 shares, compared to its average volume of 413,376. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of -140.93 and a beta of 0.68. Atlanta Braves has a 12-month low of $37.76 and a 12-month high of $53.25. The company has a 50-day moving average price of $50.83 and a 200 day moving average price of $46.32.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Lido Advisors LLC lifted its holdings in shares of Atlanta Braves by 5.1% in the 3rd quarter. Lido Advisors LLC now owns 5,512 shares of the financial services provider's stock worth $229,000 after buying an additional 269 shares during the period. California State Teachers Retirement System grew its position in shares of Atlanta Braves by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 39,984 shares of the financial services provider's stock worth $1,870,000 after buying an additional 285 shares in the last quarter. Comerica Bank increased its stake in shares of Atlanta Braves by 44.8% during the first quarter. Comerica Bank now owns 1,031 shares of the financial services provider's stock valued at $41,000 after buying an additional 319 shares during the period. Sei Investments Co. increased its stake in shares of Atlanta Braves by 5.1% during the third quarter. Sei Investments Co. now owns 7,070 shares of the financial services provider's stock valued at $294,000 after buying an additional 346 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of Atlanta Braves by 4.9% in the second quarter. BNP Paribas Financial Markets now owns 7,885 shares of the financial services provider's stock valued at $369,000 after acquiring an additional 366 shares in the last quarter. Institutional investors own 64.88% of the company's stock.

Analyst Upgrades and Downgrades

BATRK has been the topic of a number of research analyst reports. Rosenblatt Securities boosted their target price on Atlanta Braves from $69.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, April 2nd. Wall Street Zen upgraded Atlanta Braves from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Morgan Stanley cut shares of Atlanta Braves from an "overweight" rating to an "equal weight" rating and set a $54.00 price target on the stock. in a research report on Wednesday, July 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Atlanta Braves in a research report on Wednesday, June 24th. Finally, Zacks Research downgraded shares of Atlanta Braves from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Atlanta Braves currently has a consensus rating of "Hold" and a consensus target price of $64.50.

About Atlanta Braves

The Atlanta Braves Real Estate Ownership Trust NASDAQ: BATRK is a publicly traded real estate investment trust established in 2021 by Liberty Braves Group. The trust's primary purpose is to own and manage a portfolio of sports and entertainment properties related to the Atlanta Braves baseball franchise. BATRK generates stable rental income by leasing its assets to the Braves Baseball Club, LLC, under long-term lease agreements designed to align property performance with franchise needs.

The trust's portfolio is anchored by Truist Park, the 41,084-seat baseball stadium that has served as the Braves' home since 2017.

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