Warner Bros. Discovery (NASDAQ:WBD) Given “Buy” Rating at Bank of America

Bank of America reissued their buy rating on shares of Warner Bros. Discovery (NASDAQ:WBD) in a research note released on Thursday,Benzinga reports. They currently have a $14.00 price target on the stock.

Several other equities analysts have also recently issued reports on the stock. Barclays boosted their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Benchmark reiterated a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a report on Friday, September 13th. Barrington Research restated an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, November 7th. Guggenheim upped their price target on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Twelve investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $11.33.

Warner Bros. Discovery Trading Down 3.4 %

NASDAQ WBD opened at $12.07 on Thursday. The stock has a market cap of $29.61 billion, a P/E ratio of -2.64 and a beta of 1.52. Warner Bros. Discovery has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The stock has a 50 day simple moving average of $9.11 and a two-hundred day simple moving average of $8.24. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.17) earnings per share. On average, analysts forecast that Warner Bros. Discovery will post -4.37 earnings per share for the current year.

Hedge Funds Weigh In On Warner Bros. Discovery

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of Warner Bros. Discovery by 4.1% during the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after acquiring an additional 5,898,611 shares during the last quarter. Sessa Capital IM L.P. lifted its position in Warner Bros. Discovery by 24.7% during the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after purchasing an additional 5,625,545 shares during the period. EdgePoint Investment Group Inc. boosted its holdings in Warner Bros. Discovery by 2.6% in the third quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock worth $176,523,000 after purchasing an additional 541,192 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Warner Bros. Discovery by 1.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock worth $172,338,000 after purchasing an additional 329,620 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Warner Bros. Discovery by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock valued at $129,405,000 after buying an additional 687,612 shares during the last quarter. 59.95% of the stock is owned by institutional investors.

About Warner Bros. Discovery

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.