Warner Bros. Discovery (NASDAQ:WBD) Coverage Initiated at The Goldman Sachs Group

Investment analysts at The Goldman Sachs Group assumed coverage on shares of Warner Bros. Discovery (NASDAQ:WBD) in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $8.50 price target on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 17.24% from the stock’s current price.

Several other research firms have also recently issued reports on WBD. Wolfe Research cut shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective on the stock. in a research report on Tuesday, April 23rd. Barrington Research reiterated an “outperform” rating and set a $15.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday, May 28th. KeyCorp raised shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 target price for the company in a report on Friday, May 10th. Citigroup cut their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Finally, Barclays cut their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.82.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $7.25 on Tuesday. The firm’s 50-day moving average price is $7.90 and its 200-day moving average price is $9.15. 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 company has a market cap of $17.76 billion, a PE ratio of -5.85 and a beta of 1.53. Warner Bros. Discovery has a 52-week low of $6.94 and a 52-week high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The firm had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $10.22 billion. During the same quarter in the previous year, the business posted $0.18 EPS. Warner Bros. Discovery’s revenue was down 6.9% on a year-over-year basis. As a group, analysts anticipate that Warner Bros. Discovery will post -0.38 EPS for the current year.

Hedge Funds Weigh In On Warner Bros. Discovery

Large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its holdings in shares of Warner Bros. Discovery by 17.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after acquiring an additional 3,710,343 shares in the last quarter. EdgePoint Investment Group Inc. increased its holdings in shares of Warner Bros. Discovery by 14.6% during the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock valued at $180,016,000 after acquiring an additional 2,621,582 shares in the last quarter. Norges Bank acquired a new position in shares of Warner Bros. Discovery during the fourth quarter valued at about $198,916,000. Boston Partners increased its holdings in shares of Warner Bros. Discovery by 9.9% during the fourth quarter. Boston Partners now owns 15,640,771 shares of the company’s stock valued at $177,384,000 after acquiring an additional 1,414,952 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Warner Bros. Discovery by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,672,632 shares of the company’s stock valued at $155,594,000 after acquiring an additional 575,123 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.