Warner Bros. Discovery (NASDAQ:WBD) Stock Price Up 0.9%

Warner Bros. Discovery, Inc. (NASDAQ:WBD)’s stock price shot up 0.9% on Friday . The company traded as high as $7.51 and last traded at $7.45. 3,263,534 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 27,543,660 shares. The stock had previously closed at $7.38.

Wall Street Analyst Weigh In

WBD has been the subject of a number of recent analyst reports. The Goldman Sachs Group assumed coverage on shares of Warner Bros. Discovery in a research note on Tuesday, June 25th. They issued a “neutral” rating and a $8.50 price objective for the company. KeyCorp upgraded shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price objective for the company in a research note on Friday, May 10th. Barrington Research reiterated an “outperform” rating and issued a $15.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday, May 28th. Benchmark restated a “buy” rating and set a $20.00 price target on shares of Warner Bros. Discovery in a report on Monday, June 17th. Finally, Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $7.00 to $10.00 in a research note on Thursday, March 21st. 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. Based on data from MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Hold” and an average target price of $12.82.

Warner Bros. Discovery Stock Performance

The stock has a 50 day simple moving average of $7.70 and a 200 day simple moving average of $8.82. The stock has a market cap of $18.06 billion, a P/E ratio of -6.01 and a beta of 1.49. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly 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). The company had revenue of $9.96 billion during the quarter, compared to analyst estimates 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 firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. On average, equities analysts expect that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current year.

Hedge Funds Weigh In On Warner Bros. Discovery

Hedge funds have recently bought and sold shares of the company. Public Employees Retirement Association of Colorado lifted its position in shares of Warner Bros. Discovery by 5,128.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 350,559 shares of the company’s stock valued at $3,989,000 after acquiring an additional 343,854 shares during the period. Thompson Investment Management Inc. grew its position in Warner Bros. Discovery by 23.5% in the 1st quarter. Thompson Investment Management Inc. now owns 1,118,931 shares of the company’s stock valued at $9,768,000 after purchasing an additional 213,149 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Warner Bros. Discovery by 8.2% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock valued at $584,000 after buying an additional 5,081 shares during the last quarter. Global Assets Advisory LLC acquired a new position in Warner Bros. Discovery during the 1st quarter valued at about $182,000. Finally, SageView Advisory Group LLC bought a new stake in Warner Bros. Discovery during the fourth quarter worth $129,000. Institutional investors own 59.95% of the company’s stock.

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.