Warner Bros. Discovery (NASDAQ:WBD) Stock Price Up 2%

Warner Bros. Discovery, Inc. (NASDAQ:WBD) shares shot up 2% on Tuesday . The company traded as high as $7.28 and last traded at $7.24. 4,667,782 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 27,851,549 shares. The stock had previously closed at $7.10.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein cut their target price on Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Barrington Research reissued an “outperform” rating and set a $15.00 price objective on shares of Warner Bros. Discovery in a report on Tuesday, May 28th. Wolfe Research cut shares of 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. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, May 10th. Finally, Benchmark reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, June 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Hold” and an average price target of $12.82.

Warner Bros. Discovery Stock Performance

The stock’s 50 day moving average price is $7.83 and its 200 day moving average price is $9.04. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87. The company has a market cap of $17.50 billion, a price-to-earnings ratio of -5.84 and a beta of 1.50.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The business had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. Warner Bros. Discovery’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 earnings per share. On average, analysts expect that Warner Bros. Discovery, Inc. will post -0.38 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 the stock. O Shaughnessy Asset Management LLC boosted its stake in Warner Bros. Discovery by 17.4% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 40,063 shares of the company’s stock valued at $435,000 after purchasing an additional 5,925 shares during the period. AQR Capital Management LLC boosted its position in shares of Warner Bros. Discovery by 5.1% during the third quarter. AQR Capital Management LLC now owns 862,926 shares of the company’s stock worth $9,371,000 after buying an additional 41,519 shares during the period. Ameriprise Financial Inc. grew its holdings in Warner Bros. Discovery by 2.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,879,216 shares of the company’s stock worth $85,588,000 after buying an additional 186,639 shares in the last quarter. Evergreen Capital Management LLC increased its position in Warner Bros. Discovery by 2,687.1% in the 3rd quarter. Evergreen Capital Management LLC now owns 286,680 shares of the company’s stock valued at $3,113,000 after acquiring an additional 276,394 shares during the period. Finally, Eubel Brady & Suttman Asset Management Inc. raised its stake in Warner Bros. Discovery by 3.0% during the 3rd quarter. Eubel Brady & Suttman Asset Management Inc. now owns 2,136,179 shares of the company’s stock valued at $23,199,000 after acquiring an additional 61,648 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

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.