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Warner Bros. Discovery (WBD) Advances While Market Declines: Some Information for Investors

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Warner Bros. Discovery (WBD - Free Report) closed the latest trading day at $9.80, indicating a +0.72% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 1.18%. Elsewhere, the Dow lost 0.76%, while the tech-heavy Nasdaq lost 1.76%.

Heading into today, shares of the operator of cable TV channels such as TLC and Animal Planet had lost 11.79% over the past month, lagging the Consumer Discretionary sector's loss of 1.32% and the S&P 500's loss of 3.35% in that time.

The investment community will be paying close attention to the earnings performance of Warner Bros. Discovery in its upcoming release. The company is slated to reveal its earnings on November 8, 2023. The company is predicted to post an EPS of -$0.08, indicating a 147.06% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $9.97 billion, reflecting a 1.46% rise from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of -$1.13 per share and a revenue of $41.86 billion, demonstrating changes of -345.65% and +23.8%, respectively, from the preceding year.

Investors should also note any recent changes to analyst estimates for Warner Bros. Discovery. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 5.1% lower within the past month. Warner Bros. Discovery currently has a Zacks Rank of #5 (Strong Sell).

The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 212, which puts it in the bottom 16% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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