Warner Bros. Discovery, Inc. (NASDAQ:WBD) Given Average Rating of “Moderate Buy” by Brokerages

Warner Bros. Discovery, Inc. (NASDAQ:WBD) has been given an average recommendation of “Moderate Buy” by the eighteen brokerages that are presently covering the company, Marketbeat reports. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $14.24.

A number of equities research analysts have commented on WBD shares. Redburn Atlantic cut Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a report on Thursday, January 11th. JPMorgan Chase & Co. decreased their price target on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, February 26th. Wells Fargo & Company cut Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $16.00 to $12.00 in a report on Monday, January 29th. Barrington Research reduced their target price on Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. Finally, Benchmark reaffirmed a “buy” rating and issued a $20.00 target price on shares of Warner Bros. Discovery in a report on Monday, March 4th.

Warner Bros. Discovery Price Performance

NASDAQ WBD opened at $8.23 on Thursday. The company has a market capitalization of $20.08 billion, a PE ratio of -6.43 and a beta of 1.51. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93. The business’s fifty day moving average is $8.82 and its 200 day moving average is $10.07. Warner Bros. Discovery has a fifty-two week low of $8.02 and a fifty-two week high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). The business had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.34 billion. Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. Warner Bros. Discovery’s revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 earnings per share. Sell-side analysts predict that Warner Bros. Discovery will post -0.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. State Street Corp boosted its position in shares of Warner Bros. Discovery by 2.2% during the first quarter. State Street Corp now owns 109,844,866 shares of the company’s stock valued at $1,658,653,000 after buying an additional 2,403,255 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Warner Bros. Discovery by 1.3% in the first quarter. Geode Capital Management LLC now owns 48,394,472 shares of the company’s stock valued at $729,158,000 after purchasing an additional 620,993 shares during the period. Invesco Ltd. boosted its holdings in shares of Warner Bros. Discovery by 16.6% in the third quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock valued at $306,085,000 after purchasing an additional 4,016,888 shares during the period. Moneta Group Investment Advisors LLC boosted its holdings in shares of Warner Bros. Discovery by 124,559.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 28,075,738 shares of the company’s stock valued at $266,158,000 after purchasing an additional 28,053,216 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Warner Bros. Discovery by 17.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock worth $290,579,000 after buying an additional 3,710,343 shares in the last quarter. Hedge funds and other 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.