Rosenblatt Securities Reiterates “Neutral” Rating for Warner Bros. Discovery (NASDAQ:WBD)

Warner Bros. Discovery (NASDAQ:WBD)‘s stock had its “neutral” rating reiterated by stock analysts at Rosenblatt Securities in a report released on Friday, Benzinga reports. They presently have a $9.00 price objective on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 17.49% from the company’s previous close.

A number of other research firms have also recently commented on WBD. Macquarie reduced their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Morgan Stanley cut their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Evercore ISI lowered their target price on 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. Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. Finally, TD Cowen lowered their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.93.

Warner Bros. Discovery Stock Up 10.4 %

Shares of NASDAQ WBD opened at $7.66 on Friday. The stock has a fifty day moving average price of $7.72 and a 200 day moving average price of $7.99. The company has a market cap of $18.78 billion, a P/E ratio of -6.18 and a beta of 1.48. Warner Bros. Discovery has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The company had revenue of $9.71 billion for the quarter, compared to analysts’ expectations of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.51) earnings per share. Research analysts anticipate that Warner Bros. Discovery will post -4.17 EPS for the current fiscal year.

Institutional Trading of Warner Bros. Discovery

A number of institutional investors and hedge funds have recently made changes to their positions in WBD. QRG Capital Management Inc. increased its position in Warner Bros. Discovery by 13.5% in the fourth quarter. QRG Capital Management Inc. now owns 54,283 shares of the company’s stock worth $618,000 after buying an additional 6,447 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Warner Bros. Discovery by 3.8% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 104,824 shares of the company’s stock valued at $1,193,000 after purchasing an additional 3,797 shares during the last quarter. NorthRock Partners LLC lifted its position in Warner Bros. Discovery by 18.5% in the 4th quarter. NorthRock Partners LLC now owns 12,268 shares of the company’s stock valued at $140,000 after purchasing an additional 1,913 shares during the last quarter. Kentucky Retirement Systems boosted its stake in Warner Bros. Discovery by 1.1% during the 4th quarter. Kentucky Retirement Systems now owns 177,551 shares of the company’s stock valued at $2,021,000 after purchasing an additional 1,872 shares during the period. Finally, Manchester Capital Management LLC grew its position in Warner Bros. Discovery by 1,071.7% in the 4th quarter. Manchester Capital Management LLC now owns 4,722 shares of the company’s stock worth $54,000 after purchasing an additional 4,319 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

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.