Warner Bros. Discovery’s (WBD) Neutral Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their neutral rating on shares of Warner Bros. Discovery (NASDAQ:WBD) in a research note released on Friday morning, Benzinga reports. Rosenblatt Securities currently has a $9.00 price objective on the stock.

WBD has been the topic of a number of other reports. Barclays cut their target price on Warner Bros. Discovery from $9.00 to $8.00 and set an equal weight rating on the stock in a research note on Thursday, August 8th. Moffett Nathanson cut their price target on Warner Bros. Discovery from $10.00 to $9.00 and set a neutral rating for the company in a research note on Thursday, August 8th. Evercore ISI lowered their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC reissued a hold rating on shares of Warner Bros. Discovery in a research note on Thursday, August 8th. Finally, Benchmark reduced their target price on Warner Bros. Discovery from $20.00 to $18.00 and set a buy rating on the stock in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $10.93.

Warner Bros. Discovery Trading Up 10.8 %

NASDAQ WBD opened at $8.49 on Friday. Warner Bros. Discovery has a 12 month low of $6.64 and a 12 month high of $12.70. The business has a fifty day simple moving average of $7.75 and a 200 day simple moving average of $7.98. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $20.80 billion, a P/E ratio of -6.85 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The company had revenue of $9.71 billion for the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The company’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.51) earnings per share. On average, analysts predict that Warner Bros. Discovery will post -4.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Warner Bros. Discovery

Several large investors have recently modified their holdings of WBD. The Manufacturers Life Insurance Company boosted its stake in shares of Warner Bros. Discovery by 17.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock worth $290,579,000 after acquiring an additional 3,710,343 shares in the last quarter. Sessa Capital IM L.P. grew its stake in shares of Warner Bros. Discovery by 28.8% during the 2nd quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock valued at $169,520,000 after buying an additional 5,100,000 shares during the period. EdgePoint Investment Group Inc. raised its holdings in shares of Warner Bros. Discovery by 1.1% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock worth $155,165,000 after purchasing an additional 235,192 shares during the period. Norges Bank acquired a new position in Warner Bros. Discovery during the fourth quarter valued at approximately $198,916,000. Finally, Bank of New York Mellon Corp boosted its position in Warner Bros. Discovery by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock worth $105,595,000 after purchasing an additional 719,869 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

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.