Warner Bros. Discovery, Inc. (NASDAQ:WBD) Given Average Recommendation of “Hold” by Analysts

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) have earned a consensus rating of “Hold” from the twenty-two brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $10.93.

WBD has been the topic of several research reports. Moffett Nathanson cut their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Barrington Research reaffirmed an “outperform” rating and set a $12.00 price target on shares of Warner Bros. Discovery in a research report on Tuesday, July 23rd. Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a report on Friday. Wells Fargo & Company reduced their price objective on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th.

Institutional Trading of Warner Bros. Discovery

Several hedge funds and other institutional investors have recently bought and sold shares of WBD. The Manufacturers Life Insurance Company grew its position in shares of Warner Bros. Discovery by 17.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock worth $290,579,000 after acquiring an additional 3,710,343 shares in the last quarter. Sessa Capital IM L.P. boosted its holdings in Warner Bros. Discovery by 28.8% in the second quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock worth $169,520,000 after purchasing an additional 5,100,000 shares during the period. EdgePoint Investment Group Inc. increased its stake in Warner Bros. Discovery by 1.1% during the second quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock valued at $155,165,000 after purchasing an additional 235,192 shares during the last quarter. Norges Bank acquired a new stake in shares of Warner Bros. Discovery during the fourth quarter worth $198,916,000. Finally, Boston Partners lifted its position in shares of Warner Bros. Discovery by 9.9% in the 4th quarter. Boston Partners now owns 15,640,771 shares of the company’s stock worth $177,384,000 after buying an additional 1,414,952 shares during the last quarter. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Stock Up 10.8 %

Shares of WBD opened at $8.49 on Friday. The firm has a market cap of $20.82 billion, a PE ratio of -6.85 and a beta of 1.48. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. The company’s fifty day moving average is $7.75 and its two-hundred day moving average is $7.98. Warner Bros. Discovery has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The firm 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%. Warner Bros. Discovery’s revenue was down 6.2% on a year-over-year basis. During the same period last year, the firm posted ($0.51) EPS. Analysts forecast that Warner Bros. Discovery will post -4.17 earnings per share for the current year.

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.