Warner Bros. Discovery (NASDAQ:WBD) Shares Down 0.7%

Warner Bros. Discovery, Inc. (NASDAQ:WBD) dropped 0.7% during mid-day trading on Monday . The company traded as low as $7.14 and last traded at $7.16. Approximately 3,817,867 shares traded hands during trading, a decline of 86% from the average daily volume of 27,717,088 shares. The stock had previously closed at $7.21.

Analyst Ratings Changes

WBD has been the subject of a number of recent analyst reports. KeyCorp raised Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price target for the company in a report on Friday, May 10th. Benchmark reissued a “buy” rating and issued a $20.00 target price on shares of Warner Bros. Discovery in a report on Monday, June 17th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, May 10th. Sanford C. Bernstein reduced their target price on Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Finally, Wolfe Research downgraded Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 target price for the company. in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.82.

Warner Bros. Discovery Trading Down 0.3 %

The firm has a market cap of $17.94 billion, a price-to-earnings ratio of -5.81 and a beta of 1.49. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82. The business has a fifty day moving average of $7.72 and a two-hundred day moving average of $8.84.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). The firm had revenue of $9.96 billion during the quarter, compared to analyst estimates 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 business’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. As a group, equities analysts expect that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of institutional investors and hedge funds have recently modified their holdings of the company. Fortis Group Advisors LLC purchased a new stake in Warner Bros. Discovery in the 3rd quarter valued at approximately $25,000. Pacifica Partners Inc. lifted its stake in Warner Bros. Discovery by 118.2% in the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after buying an additional 1,345 shares in the last quarter. Headinvest LLC purchased a new stake in Warner Bros. Discovery in the 3rd quarter valued at approximately $28,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in Warner Bros. Discovery in the 4th quarter valued at approximately $33,000. Finally, FinTrust Capital Advisors LLC lifted its stake in Warner Bros. Discovery by 56.3% in the 4th quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock valued at $35,000 after buying an additional 1,105 shares in the last quarter. 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.