Atlanta Braves Holdings, Inc. BATRA shares ended the last trading session 5% higher at $52.82. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 7.3% gain over the past four weeks.
BATRA shares are benefitting from the reported record $3.9 billion sale of the San Diego Padres, which sets a new MLB franchise transaction benchmark and reinforces the strong private market appetite for premier sports assets.
This company is expected to post quarterly loss of $0.80 per share in its upcoming report, which represents a year-over-year change of -21.2%. Revenues are expected to be $56 million, up 18.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Atlanta Braves Holdings, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BATRA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Atlanta Braves Holdings, Inc. belongs to the Zacks Media Conglomerates industry. Another stock from the same industry, Grupo Televisa TV, closed the last trading session 3.1% higher at $3.28. Over the past month, TV has returned 8.5%.
Grupo Televisa's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.01. Compared to the company's year-ago EPS, this represents a change of -66.7%. Grupo Televisa currently boasts a Zacks Rank of #2 (Buy).
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Atlanta Braves Holdings, Inc. (BATRA): Free Stock Analysis Report
Grupo Televisa S.A. (TV): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).