In the latest market close, Warner Bros. Discovery (WBD Quick QuoteWBD – Free Report) reached $10.39, with a -1.8% movement compared to the previous day. The stock’s performance was behind the S&P 500’s daily loss of 0.85%. Meanwhile, the Dow experienced a drop of 0.75%, and the technology-dominated Nasdaq saw a decrease of 0.96%.
Shares of the operator of cable TV channels such as TLC and Animal Planet have depreciated by 8% over the course of the past month, underperforming the Consumer Discretionary sector’s loss of 5.75% and the S&P 500’s loss of 3.02%.
The investment community will be closely monitoring the performance of Warner Bros. Discovery in its forthcoming earnings report. The company is scheduled to release its earnings on November 8, 2023. The company’s earnings per share (EPS) are projected to be -$0.07, reflecting a 141.18% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $10.02 billion, showing a 1.98% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.07 per share and a revenue of $41.91 billion, indicating changes of -332.61% and +23.94%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Warner Bros. Discovery. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts’ confidence in the company’s business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we’ve established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4% lower. Currently, Warner Bros. Discovery is carrying a Zacks Rank of #5 (Strong Sell).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 193, placing it within the bottom 24% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.