Warner Bros. Discovery (NASDAQ:WBD) Earns “Hold” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Warner Bros. Discovery (NASDAQ:WBD) in a research report sent to investors on Thursday morning, Benzinga reports.

Other equities analysts have also issued reports about the stock. Macquarie dropped their price target on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a neutral rating on the stock in a research note on Monday, August 12th. Wells Fargo & Company dropped their price target on shares of 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. Rosenblatt Securities reiterated a neutral rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Sanford C. Bernstein lowered shares of Warner Bros. Discovery from an outperform rating to a market perform rating and dropped their price target for the company from $10.00 to $8.00 in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a neutral rating on the stock in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Warner Bros. Discovery has a consensus rating of Hold and a consensus price target of $10.66.

Warner Bros. Discovery Stock Down 0.3 %

WBD stock opened at $7.52 on Thursday. The company’s 50 day moving average price is $7.74 and its 200 day moving average price is $7.91. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. Warner Bros. Discovery has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The firm has a market capitalization of $18.43 billion, a price-to-earnings ratio of -6.06 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The firm had revenue of $9.71 billion for the quarter, compared to analysts’ expectations of $10.07 billion. During the same quarter in the previous year, the company posted ($0.51) earnings per share. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. On average, equities research analysts anticipate that Warner Bros. Discovery will post -4.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Warner Bros. Discovery

Several hedge funds have recently modified their holdings of the stock. Sessa Capital IM L.P. lifted its holdings in shares of Warner Bros. Discovery by 28.8% during 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. lifted its holdings in Warner Bros. Discovery by 1.1% in the second quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock valued at $155,165,000 after acquiring an additional 235,192 shares during the period. Bank of New York Mellon Corp lifted its holdings in Warner Bros. Discovery by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock valued at $105,595,000 after acquiring an additional 719,869 shares during the period. Yacktman Asset Management LP lifted its holdings in Warner Bros. Discovery by 1.2% in the second quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock valued at $60,654,000 after acquiring an additional 100,565 shares during the period. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in Warner Bros. Discovery by 23.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock valued at $56,116,000 after acquiring an additional 1,452,913 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

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.