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

Warner Bros. Discovery (NASDAQ:WBD) was upgraded by stock analysts at Wolfe Research from an “underperform” rating to a “peer perform” rating in a research note issued to investors on Monday, MarketBeat reports.

Other equities research analysts have also issued research reports about the stock. Macquarie upped their target price on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their target price for the company from $10.00 to $8.00 in a research report on Tuesday, August 13th. The Goldman Sachs Group increased their price target on Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Monday, October 7th. Barclays lifted their price objective on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Finally, Benchmark reiterated a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a report on Friday, September 13th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus target price of $10.55.

Warner Bros. Discovery Trading Down 1.2 %

NASDAQ:WBD opened at $9.22 on Monday. Warner Bros. Discovery has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $22.61 billion, a price-to-earnings ratio of -2.01 and a beta of 1.48. The firm has a fifty day simple moving average of $7.97 and a two-hundred day simple moving average of $7.84.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 7th. The company reported $0.05 EPS 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 the consensus estimate of $9.79 billion. During the same period last year, the business posted ($0.17) EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts expect that Warner Bros. Discovery will post -4.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Warner Bros. Discovery

Several large investors have recently modified their holdings of WBD. Sessa Capital IM L.P. boosted its stake in Warner Bros. Discovery by 24.7% in the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after purchasing an additional 5,625,545 shares during the period. EdgePoint Investment Group Inc. increased its holdings in Warner Bros. Discovery by 1.1% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock worth $155,165,000 after acquiring an additional 235,192 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Warner Bros. Discovery by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock worth $129,405,000 after acquiring an additional 687,612 shares during the period. Bank of New York Mellon Corp lifted its stake in Warner Bros. Discovery by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock worth $105,595,000 after purchasing an additional 719,869 shares in the last quarter. Finally, Yacktman Asset Management LP boosted its holdings in Warner Bros. Discovery by 1.2% in the 2nd quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock valued at $60,654,000 after purchasing an additional 100,565 shares during the period. 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.