The Goldman Sachs Group Initiates Coverage on Warner Bros. Discovery (NASDAQ:WBD)

Equities researchers at The Goldman Sachs Group began coverage on shares of Warner Bros. Discovery (NASDAQ:WBD) in a research report issued on Tuesday, MarketBeat reports. The firm set a “neutral” rating and a $8.50 price target on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 16.28% from the stock’s current price.

WBD has been the subject of a number of other research reports. Wolfe Research downgraded Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 target price for the company. in a report on Tuesday, April 23rd. Barrington Research reiterated an “outperform” rating and set a $15.00 price target on shares of Warner Bros. Discovery in a research report on Tuesday, May 28th. Sanford C. Bernstein reduced their price target on Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Morgan Stanley reduced their price target on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a research report on Monday, February 26th. Finally, Citigroup reduced their price target on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.82.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $7.31 on Tuesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $17.91 billion, a PE ratio of -5.90 and a beta of 1.53. The business has a 50-day simple moving average of $7.93 and a two-hundred day simple moving average of $9.19. Warner Bros. Discovery has a fifty-two week low of $6.94 and a fifty-two week high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The business had revenue of $9.96 billion during the quarter, compared to analyst estimates of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. Warner Bros. Discovery’s revenue was down 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 EPS. As a group, equities analysts expect that Warner Bros. Discovery will post -0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fortis Group Advisors LLC acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at $25,000. Pacifica Partners Inc. lifted its stake in shares of Warner Bros. Discovery by 118.2% in the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after purchasing an additional 1,345 shares during the last quarter. Headinvest LLC acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at $28,000. University of Texas Texas AM Investment Managment Co. acquired a new position in Warner Bros. Discovery during the 4th quarter worth about $33,000. Finally, FinTrust Capital Advisors LLC lifted its stake in Warner Bros. Discovery by 56.3% during the 4th quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after acquiring an additional 1,105 shares in the last quarter. Institutional investors and hedge funds 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.