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Warner Bros. Discovery (WBD) Flat As Market Gains: What You Should Know

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In the latest trading session, Warner Bros. Discovery (WBD - Free Report) closed at $8.40, marking no change from the previous day. This change lagged the S&P 500's daily gain of 0.87%. Meanwhile, the Dow experienced a rise of 0.67%, and the technology-dominated Nasdaq saw an increase of 1.11%.

Shares of the operator of cable TV channels such as TLC and Animal Planet have depreciated by 0.47% over the course of the past month, outperforming the Consumer Discretionary sector's loss of 7.08% and the S&P 500's loss of 3.97%.

Investors will be eagerly watching for the performance of Warner Bros. Discovery in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 9, 2024. The company is predicted to post an EPS of -$0.23, indicating a 227.78% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $10.22 billion, indicating a 4.53% decrease compared to the same quarter of the previous year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.35 per share and a revenue of $41.43 billion, indicating changes of +72.66% and +0.26%, respectively, from the former year.

Investors should also take note of any recent adjustments to analyst estimates for Warner Bros. Discovery. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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. Over the past month, the Zacks Consensus EPS estimate has moved 2.08% lower. Warner Bros. Discovery presently features a Zacks Rank of #3 (Hold).

The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 228, which puts it in the bottom 10% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks 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 to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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