Warner Bros. Discovery (NASDAQ:WBD) Raised to Peer Perform at Wolfe Research

Wolfe Research upgraded shares of Warner Bros. Discovery (NASDAQ:WBD) from an underperform rating to a peer perform rating in a report issued on Monday morning, Marketbeat Ratings reports.

WBD has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley lowered their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Benchmark restated a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a report on Friday, September 13th. Finally, Evercore ISI dropped their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $10.55.

Warner Bros. Discovery Stock Up 5.4 %

Warner Bros. Discovery stock opened at $9.72 on Monday. The stock has a market cap of $23.83 billion, a PE ratio of -2.12 and a beta of 1.48. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a fifty day moving average of $8.01 and a 200 day moving average of $7.86. Warner Bros. Discovery has a one year low of $6.64 and a one year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.17) EPS. As a group, sell-side analysts predict that Warner Bros. Discovery will post -4.41 EPS for the current year.

Institutional Investors Weigh In On Warner Bros. Discovery

Several hedge funds have recently made changes to their positions in WBD. Quantbot Technologies LP bought a new position in Warner Bros. Discovery in the first quarter worth approximately $457,000. Empowered Funds LLC raised its position in shares of Warner Bros. Discovery by 124.5% in the 1st quarter. Empowered Funds LLC now owns 52,891 shares of the company’s stock worth $462,000 after acquiring an additional 29,330 shares in the last quarter. Atomi Financial Group Inc. lifted its stake in shares of Warner Bros. Discovery by 207.9% during the 1st quarter. Atomi Financial Group Inc. now owns 31,581 shares of the company’s stock worth $276,000 after purchasing an additional 21,325 shares during the last quarter. Sei Investments Co. boosted its position in Warner Bros. Discovery by 29.3% during the first quarter. Sei Investments Co. now owns 521,613 shares of the company’s stock valued at $4,554,000 after purchasing an additional 118,278 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in Warner Bros. Discovery by 22.5% during the first quarter. ProShare Advisors LLC now owns 2,663,590 shares of the company’s stock valued at $23,253,000 after purchasing an additional 488,536 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

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.