Atlanta Braves (NASDAQ:BATRA) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Key Points

• Atlanta Braves reported quarterly EPS of ($0.63), beating analysts’ estimate of ($0.72) by $0.09. Revenue also came in ahead of expectations at $72.01 million versus $68.69 million.
• The stock traded lower on the day despite the earnings beat, falling to $52.99. The shares have ranged from $41.50 to $56.06 over the past year.
• Wall Street sentiment remains cautious, with the current consensus rating at “Reduce” and a $45.00 price target. Recent analyst moves included a downgrade from Zacks Research and a reaffirmed sell rating from Weiss Ratings.

Atlanta Braves (NASDAQ:BATRA - Get Free Report) announced its earnings results on Monday. The financial services provider reported ($0.63) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.72) by $0.09, FiscalAI reports. The firm had revenue of $72.01 million during the quarter, compared to analysts' expectations of $68.69 million. Atlanta Braves had a positive return on equity of 0.08% and a negative net margin of 3.19%.

Atlanta Braves Stock Performance

Shares of BATRA traded down $1.89 during mid-day trading on Monday, hitting $52.99. The company's stock had a trading volume of 13,688 shares, compared to its average volume of 66,647. Atlanta Braves has a one year low of $41.50 and a one year high of $56.06. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market capitalization of $3.33 billion, a PE ratio of -136.62 and a beta of 0.68. The stock's 50-day moving average is $49.54 and its two-hundred day moving average is $45.57.

Institutional Investors Weigh In On Atlanta Braves

Several hedge funds have recently modified their holdings of BATRA. Vanguard Group Inc. boosted its position in shares of Atlanta Braves by 14.3% in the third quarter. Vanguard Group Inc. now owns 685,557 shares of the financial services provider's stock valued at $31,172,000 after acquiring an additional 85,853 shares during the period. HRT Financial LP raised its stake in shares of Atlanta Braves by 600.4% in the second quarter. HRT Financial LP now owns 48,679 shares of the financial services provider's stock valued at $2,395,000 after purchasing an additional 41,729 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Atlanta Braves in the second quarter valued at $1,516,000. Squarepoint Ops LLC raised its stake in shares of Atlanta Braves by 261.9% in the third quarter. Squarepoint Ops LLC now owns 41,892 shares of the financial services provider's stock valued at $1,905,000 after purchasing an additional 30,317 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Atlanta Braves by 50.1% in the fourth quarter. JPMorgan Chase & Co. now owns 79,880 shares of the financial services provider's stock valued at $3,394,000 after purchasing an additional 26,669 shares in the last quarter. 12.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BATRA. Zacks Research cut Atlanta Braves from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Atlanta Braves in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $45.00.

About Atlanta Braves

The Atlanta Braves NASDAQ: BATRA are a professional baseball club that competes in Major League Baseball's National League East division. Founded in 1871 as the Boston Red Stockings, the franchise relocated to Milwaukee in 1953 before settling in Atlanta in 1966. As one of MLB's oldest and most storied organizations, the Braves are responsible for fielding a Major League team, overseeing player development through a network of minor league affiliates, and managing baseball operations under the leadership of President of Baseball Operations Alex Anthopoulos.

Beyond on‐field performance, the Braves operate a diversified sports and entertainment business.

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