Warner Bros. Discovery, Inc. (NASDAQ:WBD) Given Average Recommendation of “Moderate Buy” by Brokerages

Warner Bros. Discovery, Inc. (NASDAQ:WBD) has received an average rating of “Moderate Buy” from the twenty brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $13.16.

Several research analysts have recently commented on the stock. Wolfe Research lowered shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price target on the stock. in a research note on Tuesday, April 23rd. Barrington Research reissued an “outperform” rating and set a $15.00 target price on shares of Warner Bros. Discovery in a research report on Tuesday, May 28th. Citigroup reduced their price target on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Sanford C. Bernstein decreased their price target on Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, May 10th.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $7.31 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. Warner Bros. Discovery has a one year low of $6.94 and a one year high of $14.76. The business’s 50-day moving average price is $7.93 and its two-hundred day moving average price is $9.19. The company has a market capitalization of $17.91 billion, a P/E ratio of -5.90 and a beta of 1.53.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.16). Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The firm had revenue of $9.96 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same quarter in the prior year, the firm earned $0.18 earnings per share. The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. Analysts anticipate that Warner Bros. Discovery will post -0.38 earnings per share for the current fiscal year.

Institutional Trading of Warner Bros. Discovery

A number of hedge funds have recently modified their holdings of WBD. Norges Bank acquired a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at about $198,916,000. The Manufacturers Life Insurance Company boosted its holdings in Warner Bros. Discovery by 17.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after purchasing an additional 3,710,343 shares in the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of Warner Bros. Discovery by 14.6% in the 1st quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock valued at $180,016,000 after purchasing an additional 2,621,582 shares during the period. Drexel Morgan & Co. raised its holdings in shares of Warner Bros. Discovery by 97.6% in the 1st quarter. Drexel Morgan & Co. now owns 4,600,463 shares of the company’s stock worth $40,162,000 after buying an additional 2,272,245 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its position in shares of Warner Bros. Discovery by 1,232.7% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,648,036 shares of the company’s stock worth $17,898,000 after buying an additional 1,524,370 shares during the period. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.