Warner Bros. Discovery (NASDAQ:WBD) Trading 2% Higher

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) traded up 2% during mid-day trading on Tuesday . The company traded as high as $7.28 and last traded at $7.24. 4,667,782 shares changed hands during trading, a decline of 83% from the average session volume of 27,851,549 shares. The stock had previously closed at $7.10.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barrington Research reiterated an “outperform” rating and set a $15.00 price target on shares of Warner Bros. Discovery in a research note on Tuesday, May 28th. Benchmark reiterated a “buy” rating and set a $20.00 price target on shares of Warner Bros. Discovery in a research note on Monday, June 17th. Rosenblatt Securities raised shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $7.00 to $10.00 in a research report on Thursday, March 21st. The Goldman Sachs Group initiated coverage on shares of Warner Bros. Discovery in a research report on Tuesday, June 25th. They set a “neutral” rating and a $8.50 target price on the stock. Finally, Sanford C. Bernstein dropped their target price on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.82.

Warner Bros. Discovery Trading Up 0.4 %

The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. The firm has a 50 day moving average of $7.78 and a 200 day moving average of $8.99. The firm has a market cap of $17.72 billion, a PE ratio of -5.83 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last posted its 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). The company had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The company’s revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 EPS. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current year.

Institutional Investors Weigh In On Warner Bros. Discovery

Institutional investors have recently made changes to their positions in the stock. Fortis Group Advisors LLC purchased a new stake in shares of Warner Bros. Discovery during the third quarter worth $25,000. Pacifica Partners Inc. lifted its position in shares of Warner Bros. Discovery by 118.2% during the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after acquiring an additional 1,345 shares in the last quarter. Headinvest LLC bought a new position in shares of Warner Bros. Discovery in the third quarter worth $28,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Warner Bros. Discovery in the fourth quarter worth $33,000. Finally, FinTrust Capital Advisors LLC increased its holdings in shares of Warner Bros. Discovery by 56.3% in the fourth quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after purchasing an additional 1,105 shares during the period. Hedge funds and other 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.