Warner Bros. Discovery (NASDAQ:WBD) Shares Up 0.9%

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) traded up 0.9% during mid-day trading on Friday . The stock traded as high as $7.51 and last traded at $7.45. 3,263,534 shares changed hands during trading, a decline of 88% from the average session volume of 27,543,660 shares. The stock had previously closed at $7.38.

Analyst Ratings Changes

A number of equities analysts recently weighed in on WBD shares. Wolfe Research cut Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective on the stock. in a report on Tuesday, April 23rd. Rosenblatt Securities upgraded shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and lifted their target price for the company from $7.00 to $10.00 in a report on Thursday, March 21st. Benchmark reiterated a “buy” rating and issued a $20.00 price objective on shares of Warner Bros. Discovery in a report on Monday, June 17th. The Goldman Sachs Group assumed coverage on Warner Bros. Discovery in a research note on Tuesday, June 25th. They set a “neutral” rating and a $8.50 price target for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.82.

Warner Bros. Discovery Stock Performance

The business has a 50-day moving average price of $7.70 and a 200-day moving average price of $8.82. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $18.06 billion, a price-to-earnings ratio of -6.01 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The business had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $10.22 billion. During the same quarter last year, the business posted $0.18 earnings per share. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current year.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of institutional investors have recently bought and sold shares of the business. Pacifica Partners Inc. lifted its holdings in Warner Bros. Discovery by 118.2% in the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after acquiring an additional 1,345 shares during the period. Headinvest LLC acquired a new position in shares of Warner Bros. Discovery during the 3rd quarter worth approximately $28,000. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Warner Bros. Discovery during the 4th quarter valued at approximately $33,000. FinTrust Capital Advisors LLC grew 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 acquiring an additional 1,105 shares during the period. Finally, Rakuten Securities Inc. purchased a new stake in Warner Bros. Discovery in the 4th quarter worth $35,000. 59.95% of the stock is 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.