Results: Atlanta Braves Holdings, Inc. Delivered A Surprise Loss And Now Analysts Have New Forecasts

Shareholders might have noticed that Atlanta Braves Holdings, Inc. (NASDAQ:BATR.K) filed its quarterly result this time last week. The early response was not positive, with shares down 2.2% to US$34.48 in the past week. It was a pretty negative result overall, with revenues of US$245m missing analyst predictions by 8.7%. Worse, the business reported a statutory loss of US$0.10 per share, a substantial decline on analyst expectations of a profit. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.

View our latest analysis for Atlanta Braves Holdings

Following the latest results, Atlanta Braves Holdings' four analysts are now forecasting revenues of US$659.5m in 2024. This would be a satisfactory 2.4% improvement in revenue compared to the last 12 months. Atlanta Braves Holdings is also expected to turn profitable, with statutory earnings of US$0.01 per share. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$660.0m and earnings per share (EPS) of US$0.01 in 2024. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

There were no changes to revenue or earnings estimates or the price target of US$50.75, suggesting that the company has met expectations in its recent result. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. The most optimistic Atlanta Braves Holdings analyst has a price target of US$58.00 per share, while the most pessimistic values it at US$41.00. These price targets show that analysts do have some differing views on the business, but the estimates do not vary enough to suggest to us that some are betting on wild success or utter failure.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. We would highlight that Atlanta Braves Holdings' revenue growth is expected to slow, with the forecast 1.9% annualised growth rate until the end of 2024 being well below the historical 12% p.a. growth over the last five years. Compare this against other companies (with analyst forecasts) in the industry, which are in aggregate expected to see revenue growth of 8.2% annually. So it's pretty clear that, while revenue growth is expected to slow down, the wider industry is also expected to grow faster than Atlanta Braves Holdings.

The Bottom Line

The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. Fortunately, the analysts also reconfirmed their revenue estimates, suggesting that it's tracking in line with expectations. Although our data does suggest that Atlanta Braves Holdings' revenue is expected to perform worse than the wider industry. The consensus price target held steady at US$50.75, with the latest estimates not enough to have an impact on their price targets.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have estimates - from multiple Atlanta Braves Holdings analysts - going out to 2025, and you can see them free on our platform here.

We don't want to rain on the parade too much, but we did also find 2 warning signs for Atlanta Braves Holdings that you need to be mindful of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.