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Warner Bros. Discovery (WBD) Stock Sinks As Market Gains: Here's Why
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Warner Bros. Discovery (WBD - Free Report) closed at $11.20 in the latest trading session, marking a -1.32% move from the prior day. This move lagged the S&P 500's daily gain of 0.18%. Elsewhere, the Dow gained 0.07%, while the tech-heavy Nasdaq added 0.1%.
Prior to today's trading, shares of the operator of cable TV channels such as TLC and Animal Planet had gained 4.9% over the past month. This has outpaced the Consumer Discretionary sector's gain of 2.02% and the S&P 500's gain of 2.75% in that time.
Market participants will be closely following the financial results of Warner Bros. Discovery in its upcoming release. The company's upcoming EPS is projected at $0.01, signifying a 97.62% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.22 billion, down 7.18% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Warner Bros. Discovery. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 26.54% higher within the past month. As of now, Warner Bros. Discovery holds a Zacks Rank of #3 (Hold).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 192, positioning it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Warner Bros. Discovery (WBD) Stock Sinks As Market Gains: Here's Why
Warner Bros. Discovery (WBD - Free Report) closed at $11.20 in the latest trading session, marking a -1.32% move from the prior day. This move lagged the S&P 500's daily gain of 0.18%. Elsewhere, the Dow gained 0.07%, while the tech-heavy Nasdaq added 0.1%.
Prior to today's trading, shares of the operator of cable TV channels such as TLC and Animal Planet had gained 4.9% over the past month. This has outpaced the Consumer Discretionary sector's gain of 2.02% and the S&P 500's gain of 2.75% in that time.
Market participants will be closely following the financial results of Warner Bros. Discovery in its upcoming release. The company's upcoming EPS is projected at $0.01, signifying a 97.62% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.22 billion, down 7.18% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Warner Bros. Discovery. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 26.54% higher within the past month. As of now, Warner Bros. Discovery holds a Zacks Rank of #3 (Hold).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 192, positioning it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.