Warner Bros. Discovery (NASDAQ:WBD) Trading 1.4% Higher

Warner Bros. Discovery, Inc. (NASDAQ:WBD) traded up 1.4% on Wednesday . The stock traded as high as $7.45 and last traded at $7.30. 6,266,931 shares changed hands during trading, a decline of 77% from the average session volume of 27,819,936 shares. The stock had previously closed at $7.20.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. KeyCorp upgraded 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. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, May 10th. The Goldman Sachs Group assumed coverage on Warner Bros. Discovery in a report on Tuesday, June 25th. They set a “neutral” rating and a $8.50 price target for the company. Wolfe Research cut 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. Finally, Benchmark reiterated a “buy” rating and issued a $20.00 target price on shares of Warner Bros. Discovery in a report on Monday, June 17th. 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.82.

Warner Bros. Discovery Trading Up 1.1 %

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 stock has a 50-day simple moving average of $7.80 and a two-hundred day simple moving average of $9.00. The firm has a market capitalization of $17.84 billion, a P/E ratio of -5.89 and a beta of 1.50.

Warner Bros. Discovery (NASDAQ:WBD) last issued its 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 for the quarter, compared to the consensus estimate of $10.22 billion. Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period last year, the firm earned $0.18 earnings per share. On average, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in WBD. O Shaughnessy Asset Management LLC raised its position in shares of Warner Bros. Discovery by 17.4% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 40,063 shares of the company’s stock worth $435,000 after acquiring an additional 5,925 shares in the last quarter. AQR Capital Management LLC grew its stake in Warner Bros. Discovery by 5.1% during the 3rd 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 last quarter. Ameriprise Financial Inc. grew its stake in Warner Bros. Discovery by 2.4% during 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 during the last quarter. Evergreen Capital Management LLC grew its stake in Warner Bros. Discovery by 2,687.1% during the 3rd quarter. Evergreen Capital Management LLC now owns 286,680 shares of the company’s stock worth $3,113,000 after buying an additional 276,394 shares during the last quarter. Finally, Lake Street Advisors Group LLC purchased a new position in Warner Bros. Discovery during the 3rd quarter worth $188,000. 59.95% of the stock is owned by 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.