Warner Bros. Discovery (NASDAQ:WBD) Upgraded to Peer Perform at Wolfe Research

Wolfe Research upgraded shares of Warner Bros. Discovery (NASDAQ:WBD) from an underperform rating to a peer perform rating in a research report sent to investors on Monday, Marketbeat Ratings reports.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group boosted their price target on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Sanford C. Bernstein lowered Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $10.00 to $8.00 in a report on Tuesday, August 13th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Evercore ISI decreased their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Benchmark reissued a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a report on Friday, September 13th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and a consensus price target of $10.55.

Warner Bros. Discovery Stock Up 1.6 %

NASDAQ:WBD opened at $9.33 on Monday. The firm has a market capitalization of $22.88 billion, a price-to-earnings ratio of -2.04 and a beta of 1.48. Warner Bros. Discovery has a twelve month low of $6.64 and a twelve month high of $12.70. The stock’s 50 day moving average price is $7.93 and its two-hundred day moving average price is $7.83. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.12. The firm had revenue of $9.62 billion for 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 business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) EPS. Equities research analysts expect that Warner Bros. Discovery will post -4.55 earnings per share for the current fiscal year.

Institutional Trading of Warner Bros. Discovery

Institutional investors and hedge funds have recently modified their holdings of the business. Private Management Group Inc. lifted its position in shares of Warner Bros. Discovery by 37.7% during the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after buying an additional 1,886,868 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Warner Bros. Discovery by 1,216.7% during the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after buying an additional 2,780,986 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Warner Bros. Discovery by 629.4% in the 3rd quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock worth $1,561,000 after purchasing an additional 163,295 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Warner Bros. Discovery by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 599,957 shares of the company’s stock worth $5,028,000 after purchasing an additional 105,321 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Warner Bros. Discovery by 31.0% in the 1st quarter. Janus Henderson Group PLC now owns 314,948 shares of the company’s stock worth $2,751,000 after purchasing an additional 74,587 shares in the last quarter. 59.95% of the stock is currently 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.