Atlanta Braves (BATRK) Projected to Release Earnings on Wednesday

Atlanta Braves (NASDAQ:BATRK) is expected to be announcing 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) last issued its quarterly earnings data on Monday, May 11th. The financial services provider reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.20. The business 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 Performance

NASDAQ:BATRK traded down $0.19 during trading hours on Wednesday, reaching $50.72. The company’s stock had a trading volume of 35,532 shares, compared to its average volume of 413,376. The stock has a 50 day moving average price of $50.83 and a two-hundred day moving average price of $46.32. The company has a market capitalization of $2.68 billion, a P/E 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BATRK. EverSource Wealth Advisors LLC raised its stake in Atlanta Braves by 956.1% in the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the financial services provider’s stock valued at $33,000 after buying an additional 631 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Atlanta Braves in the 3rd quarter valued at approximately $34,000. Comerica Bank raised its position in shares of Atlanta Braves by 44.8% in the 1st quarter. Comerica Bank now owns 1,031 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 319 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Atlanta Braves in the 4th quarter worth approximately $51,000. Finally, Brown Brothers Harriman & Co. grew its position in Atlanta Braves by 72.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,426 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 600 shares during the last quarter. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Atlanta Braves Company Profile

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.