Warner Bros. Discovery (NASDAQ:WBD) Receives “Outperform” Rating from Barrington Research

Barrington Research reissued their outperform rating on shares of Warner Bros. Discovery (NASDAQ:WBD) in a research report report published on Friday,Benzinga reports. The firm currently has a $16.00 target price on the stock.

WBD has been the subject of several other research reports. The Goldman Sachs Group increased their target price on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Monday, October 7th. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Rosenblatt Securities reissued a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Benchmark reaffirmed a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a report on Friday, September 13th. Finally, Barclays raised their target price on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $11.33.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $12.07 on Friday. Warner Bros. Discovery has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a market cap of $29.61 billion, a P/E ratio of -2.64 and a beta of 1.52. The business’s 50 day moving average is $9.11 and its two-hundred day moving average is $8.24. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. State Street Corp lifted its position in 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 purchasing an additional 5,898,611 shares during the period. Sessa Capital IM L.P. raised its stake in shares of 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 worth $234,386,000 after buying an additional 5,625,545 shares during the last quarter. EdgePoint Investment Group Inc. lifted 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 valued at $176,523,000 after buying an additional 541,192 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in Warner Bros. Discovery by 1.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock valued at $172,338,000 after acquiring an additional 329,620 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings 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 worth $129,405,000 after acquiring an additional 687,612 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

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.