Warner Bros. Discovery (NASDAQ:WBD) Stock Rating Reaffirmed by Needham & Company LLC

Warner Bros. Discovery (NASDAQ:WBD)‘s stock had its “hold” rating reiterated by research analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports.

Several other analysts have also weighed in on WBD. Wolfe Research lowered shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective for the company. in a research note on Tuesday, April 23rd. Benchmark reaffirmed a “buy” rating and issued a $20.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, July 17th. Sanford C. Bernstein dropped their price objective on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. The Goldman Sachs Group began coverage on Warner Bros. Discovery in a research note on Tuesday, June 25th. They issued a “neutral” rating and a $8.50 target price for the company. Finally, Morgan Stanley dropped their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Warner Bros. Discovery has an average rating of “Hold” and a consensus target price of $11.48.

Warner Bros. Discovery Trading Up 0.1 %

WBD traded up $0.01 during trading on Thursday, reaching $7.03. 40,966,338 shares of the stock traded hands, compared to its average volume of 28,787,221. 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 stock’s 50-day moving average is $7.74 and its 200 day moving average is $8.40. Warner Bros. Discovery has a 12 month low of $6.73 and a 12 month high of $14.52. The stock has a market capitalization of $17.21 billion, a PE ratio of -5.67 and a beta of 1.49.

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 business had revenue of $9.71 billion for the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.51) EPS. Equities analysts anticipate that Warner Bros. Discovery will post -0.44 earnings per share for the current year.

Hedge Funds Weigh In On Warner Bros. Discovery

Hedge funds and other institutional investors have recently modified their holdings of the business. Wealth Alliance raised its stake in shares of Warner Bros. Discovery by 10.5% during the 2nd quarter. Wealth Alliance now owns 18,775 shares of the company’s stock worth $140,000 after purchasing an additional 1,789 shares during the period. Terril Brothers Inc. raised its position in Warner Bros. Discovery by 0.6% in the second quarter. Terril Brothers Inc. now owns 654,475 shares of the company’s stock worth $4,869,000 after acquiring an additional 4,140 shares during the period. Poehling Capital Management INC. grew its position in shares of Warner Bros. Discovery by 15.0% during the 2nd quarter. Poehling Capital Management INC. now owns 744,631 shares of the company’s stock valued at $5,540,000 after acquiring an additional 96,951 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $87,000. Finally, Thompson Siegel & Walmsley LLC raised its holdings in shares of Warner Bros. Discovery by 23.9% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock worth $56,116,000 after purchasing an additional 1,452,913 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

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.