Atlanta Braves (BATRK)
Search documents
Atlanta Braves Holdings (BATRK) Upgraded to Buy: Here's Why
ZACKS· 2024-08-14 17:00
Core Viewpoint - Atlanta Braves Holdings (BATRK) has been upgraded to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][2]. Earnings Outlook - The Zacks rating upgrade reflects a positive earnings outlook for Atlanta Braves Holdings, which could positively impact its stock price [2]. - For the fiscal year ending December 2024, Atlanta Braves Holdings is expected to earn -$0.31 per share, representing a change of 84.7% from the previous year's reported number [5]. Earnings Estimate Revisions - Over the past three months, the Zacks Consensus Estimate for Atlanta Braves Holdings has increased by 32.6%, indicating a steady rise in analysts' earnings estimates [5]. - The correlation between earnings estimate revisions and near-term stock movements is strong, suggesting that tracking these revisions can be beneficial for investment decisions [4]. Zacks Rating System - The Zacks Rank stock-rating system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 (Strong Buy) stocks generating an average annual return of +25% since 1988 [4]. - The upgrade to Zacks Rank 2 places Atlanta Braves Holdings in the top 20% of Zacks-covered stocks, indicating its superior earnings estimate revision feature and potential for market-beating returns [7].
Atlanta Braves (BATRK) - 2024 Q2 - Quarterly Results
2024-08-08 20:22
Exhibit 99.1 ATLANTA BRAVES HOLDINGS REPORTS SECOND QUARTER 2024 FINANCIAL RESULTS Englewood, Colorado, August 8, 2024 – Atlanta Braves Holdings, Inc. ("ABH") (Nasdaq: BATRA, BATRK) today reported second quarter 2024 results. Headlines include: ● Total revenue grew 5% to $283 million in second quarter o Baseball revenue up 4% to $266 million o Mixed-use development revenue up 11% to $17 million ● Operating income up 28% to $25 million and Adjusted OIBDA(1) up 9% to $46 million in second quarter ● Announced ...
Atlanta Braves (BATRK) - 2024 Q2 - Quarterly Report
2024-08-08 20:13
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-41746 ATLANTA BRAVES HOLDINGS, INC. (Exact name of Registrant as specified in its charter) Nevada 92-1284827 (State or ot ...
Atlanta Braves Holdings (BATRK) Tops Q2 Earnings Estimates
ZACKS· 2024-08-08 14:35
Atlanta Braves Holdings (BATRK) came out with quarterly earnings of $0.46 per share, beating the Zacks Consensus Estimate of $0.41 per share. This compares to loss of $0.55 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 12.20%. A quarter ago, it was expected that this owner and operator of the Atlanta Braves baseball club would post a loss of $0.64 per share when it actually produced a loss of $0.83, delivering a surprise of ...
Atlanta Braves (BATRK) - 2024 Q1 - Quarterly Results
2024-05-08 19:27
Exhibit 99.1 Regular season home games in period — — ATLANTA BRAVES HOLDINGS REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS Englewood, Colorado, May 8, 2024 – Atlanta Braves Holdings, Inc. ("ABH") (Nasdaq: BATRA, BATRK) today reported first quarter 2024 results. Headlines include: ● Total revenue grew 20% to $37 million in first quarter o Baseball revenue up 25% to $22 million o Mixed-use development revenue up 13% to $15 million ● Mixed-use development generated $10 million of Adjusted OIBDA(1) in first quar ...
Atlanta Braves (BATRK) - 2024 Q1 - Quarterly Report
2024-05-08 19:17
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-41746 ATLANTA BRAVES HOLDINGS, INC. (Exact name of Registrant as specified in its charter) Nevada 92-1284827 (State or o ...
Wall Street Analysts Believe Atlanta Braves Holdings (BATRK) Could Rally 26.29%: Here's is How to Trade
Zacks Investment Research· 2024-04-01 14:56
Shares of Atlanta Braves Holdings (BATRK) have gained 0.4% over the past four weeks to close the last trading session at $39.06, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $49.33 indicates a potential upside of 26.3%.The mean estimate comprises three short-term price targets with a standard deviation of $8.50. While the lowest estimate of $41 indicates a 5% increase from th ...
Bears are Losing Control Over Atlanta Braves Holdings (BATRK), Here's Why It's a 'Buy' Now
Zacks Investment Research· 2024-03-15 14:56
Group 1: Price Trend and Technical Analysis - The price trend for Atlanta Braves Holdings (BATRK) has been bearish, losing 7.2% over the past four weeks, but a hammer chart pattern indicates a potential trend reversal as bulls may have gained control [1] - The hammer pattern suggests a nearing bottom with likely subsiding selling pressure, indicating a bullish case for the stock [1][3] Group 2: Fundamental Analysis - There is strong agreement among Wall Street analysts in raising earnings estimates for BATRK, enhancing its prospects for a trend reversal [1] - The consensus EPS estimate for the current year has increased by 30% over the last 30 days, indicating analysts expect better earnings than previously predicted [4] Group 3: Zacks Rank and Market Performance - BATRK currently holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [5] - The Zacks Rank serves as a timing indicator, helping identify when a company's prospects are improving, supporting the potential turnaround for BATRK [5]
Atlanta Braves (BATRK) - 2023 Q4 - Annual Results
2024-02-28 16:00
Exhibit 99.1 ATLANTA BRAVES HOLDINGS REPORTS FOURTH QUARTER AND YEAR END 2023 FINANCIAL RESULTS Englewood, Colorado, February 28, 2024 – Atlanta Braves Holdings, Inc. ("ABH") (Nasdaq: BATRA, BATRK) today reported fourth quarter and year end 2023 results. Headlines include (1): ● Total revenue grew 9% to $641 million in 2023 o Baseball revenue up 9% to $582 million o Mixed-use development revenue up 10% to $59 million ● Mixed-use development generated $39 million of Adjusted OIBDA(2) in 2023 ● Extended Alex ...
Atlanta Braves (BATRK) - 2023 Q4 - Annual Report
2024-02-28 16:00
Financial Performance and Obligations - The Braves' Annual Player Salary Budget impacts their ability to enter into new player contracts, with flexibility increasing when existing obligations are below the budget limit [36]. - The Braves generated net revenue from postseason play of approximately $11.3 million in 2023, compared to $8.4 million in 2022, reflecting a 34.5% increase [77]. - As of December 31, 2023, the Braves have annual contract obligations totaling $236.9 million in 2024, $180.0 million in 2025, $160.7 million in 2026, $111.4 million in 2027, $104.9 million in 2028, and $156.3 million combined thereafter [82]. - The Braves were required to pay the Competitive Balance Tax for the 2023 season due to exceeding predetermined payroll thresholds [83]. - The company may face substantial liabilities under the tax sharing agreement with Liberty Media, which could materially adversely affect its financial position [70]. - The success of the Braves is heavily dependent on on-field performance, which directly impacts ticket sales, merchandise sales, and local media revenue [77]. - The company may forgo certain advantageous transactions to preserve the tax-free treatment of the Split-Off Transactions, potentially impacting strategic decisions [71]. - The company has a deferred tax asset of $16.7 million related to state net operating losses and disallowed business interest carryforwards as of December 31, 2023 [126]. Stadium and Development - The total cost of Truist Park was approximately $722 million, with Braves Holdings funding about $330 million through cash and debt instruments [39]. - Braves Holdings pays an annual stadium license fee of $3 million, plus an additional $3.1 million, in semi-annual installments [40]. - The Braves' new spring training facility, CoolToday Park, has exclusive operating rights until December 2049, with an option to extend through December 2059 [40]. - The Battery Atlanta is a 2.25 million square-foot mixed-use development surrounding Truist Park, featuring various entertainment and commercial spaces [41]. - The Braves have a 50% interest in three joint ventures for developing hotels in the Mixed-Use Development [43]. - As of December 31, 2023, Braves Holdings had approximately $206.8 million in debt for stadium construction, $336.2 million for Mixed-Use Development, and $30.0 million for a spring training facility [103]. Employment and Diversity - As of December 31, 2023, Braves Holdings had approximately 1,240 full-time, seasonal, and part-time employees [54]. - Braves Holdings aims to provide competitive compensation and benefits, including bonuses, 401(k) plans, and healthcare benefits [58]. - The company emphasizes diversity, equity, and inclusion through various programs, including Fellowship programs and employee resource groups [57]. Regulatory and Compliance Risks - Braves Holdings is subject to MLB Rules and Regulations, and any changes could negatively impact business and financial results [85]. - The chapter 11 bankruptcy filing by Diamond Sports Group may require Braves Holdings to repay up to $34.2 million and could disrupt regional broadcasting, adversely affecting fan base and operations [93]. - The company is exposed to risks from climate change, which could increase property insurance costs and lead to more frequent extreme weather events affecting operations [108]. - Compliance with various privacy laws, such as the California Consumer Privacy Act, may increase operational costs and complexity [123]. - The company may face challenges in satisfying the requirements of Section 404 of the Sarbanes-Oxley Act, which could impact investor confidence and stock price if internal controls are deemed ineffective [132]. Market and Economic Conditions - Economic downturns and inflation may reduce consumer discretionary spending, negatively affecting revenue from ticket sales and related services [113]. - Viewership and interest in baseball may fluctuate, impacting financial results due to competition from other sports and entertainment options [89]. - Any future MLB expansion could dilute revenue from broadcasting agreements and increase competition for players [88]. - Broadcasting rights are a significant revenue source, and any decline in broadcasting revenue could negatively impact financial results [90]. Debt and Financial Structure - The company has established policies and procedures to manage market risks associated with its investing and financial activities [219]. - The company manages interest rate exposure by maintaining a mix of fixed and variable rate debt, including issuing fixed rate debt with low stated interest rates and significant terms to maturity [220]. - As of December 31, 2023, the company had $83.9 million in floating rate debt with a weighted average interest rate of 7.1% and $489.1 million in fixed rate debt with a weighted average interest rate of 4.4% [222]. - The company's capital structure includes multiple series of common stock, which may limit the ability of shareholders to influence corporate matters [147]. - The multi-series structure of the company's stock may lead to lower trading prices and volatility, affecting shareholder value [127]. Operational Risks - The occurrence of extraordinary events, such as pandemics or natural disasters, could substantially decrease attendance at events, impacting revenue [115]. - The company relies on technology for operations, and disruptions could lead to increased costs and negatively affect business performance [120]. - The company may incur significant costs for renovations and improvements to attract new lessees or secure lease renewals [109]. - The company may face challenges in renewing leases with existing lessees, which could adversely impact cash flow from operations and financial condition [109].