Warner Bros. Discovery (NASDAQ:WBD) Raised to Peer Perform at Wolfe Research

Wolfe Research upgraded shares of Warner Bros. Discovery (NASDAQ:WBD) from an underperform rating to a peer perform rating in a report issued on Monday morning, MarketBeat.com reports.

Other equities research analysts have also issued research reports about the company. Rosenblatt Securities restated a “neutral” rating and set a $9.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Benchmark restated a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Sanford C. Bernstein lowered Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $10.00 to $8.00 in a report on Tuesday, August 13th. Morgan Stanley cut their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.55.

Warner Bros. Discovery Trading Up 1.6 %

Shares of WBD stock opened at $9.33 on Monday. The stock has a market cap of $22.88 billion, a price-to-earnings ratio of -2.04 and a beta of 1.48. The stock has a 50-day moving average of $7.93 and a 200-day moving average of $7.83. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery has a 1-year low of $6.64 and a 1-year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. The business’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities research analysts forecast that Warner Bros. Discovery will post -4.55 earnings per share for the current year.

Institutional Trading of Warner Bros. Discovery

A number of institutional investors and hedge funds have recently modified their holdings of the business. Family Firm Inc. purchased a new stake in Warner Bros. Discovery in the second quarter worth $26,000. Crewe Advisors LLC purchased a new stake in Warner Bros. Discovery in the first quarter worth $27,000. OFI Invest Asset Management grew its position in shares of Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after purchasing an additional 1,221 shares in the last quarter. Transcendent Capital Group LLC grew its position in shares of Warner Bros. Discovery by 665.4% in the first quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock valued at $35,000 after purchasing an additional 3,480 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Warner Bros. Discovery in the first quarter valued at $39,000. 59.95% of the stock is owned by hedge funds and other 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.