KeyCorp Upgrades Warner Bros. Discovery (NASDAQ:WBD) to Overweight

Warner Bros. Discovery (NASDAQ:WBD) was upgraded by analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research report issued to clients and investors on Friday, Briefing.com reports. The firm currently has a $11.00 price target on the stock. KeyCorp’s target price would indicate a potential upside of 36.82% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on WBD. Redburn Atlantic cut Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research note on Thursday, January 11th. Rosenblatt Securities upgraded shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and increased their price target for the stock from $7.00 to $10.00 in a research note on Thursday, March 21st. Benchmark restated a “buy” rating and issued a $20.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, March 4th. Wells Fargo & Company lowered Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $16.00 to $12.00 in a report on Monday, January 29th. Finally, Macquarie reduced their price objective on Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and an average target price of $13.68.

Warner Bros. Discovery Trading Up 3.1 %

Shares of Warner Bros. Discovery stock opened at $8.04 on Friday. The company has a fifty day simple moving average of $8.39 and a 200-day simple moving average of $9.80. Warner Bros. Discovery has a 12-month low of $7.34 and a 12-month high of $14.76. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. The stock has a market cap of $19.62 billion, a price-to-earnings ratio of -6.28 and a beta of 1.51.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Fortis Group Advisors LLC purchased a new stake in Warner Bros. Discovery in the 3rd quarter valued at approximately $25,000. Peoples Bank KS purchased a new stake in shares of Warner Bros. Discovery in the third quarter valued at $27,000. Pacifica Partners Inc. boosted its stake in shares of Warner Bros. Discovery by 118.2% during the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after acquiring an additional 1,345 shares during the last quarter. Milestone Investment Advisors LLC acquired a new position in Warner Bros. Discovery in the 3rd quarter valued at about $28,000. Finally, Headinvest LLC purchased a new position in Warner Bros. Discovery in the 3rd quarter valued at about $28,000. 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.