Warner Bros. Discovery, Inc. (NASDAQ:WBD) Given Consensus Recommendation of “Hold” by Brokerages

Warner Bros. Discovery, Inc. (NASDAQ:WBD) has received an average recommendation of “Hold” from the twenty ratings firms that are presently covering the stock, MarketBeat.com reports. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $10.55.

Several brokerages have recently weighed in on WBD. Wells Fargo & Company reduced their price objective on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $9.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. The Goldman Sachs Group increased their price objective on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Monday, October 7th. Finally, Evercore ISI lowered their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th.

Institutional Investors Weigh In On Warner Bros. Discovery

Several institutional investors have recently bought and sold shares of WBD. State Street Corp lifted its holdings in Warner Bros. Discovery by 4.1% in the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after acquiring an additional 5,898,611 shares during the last quarter. Sessa Capital IM L.P. lifted its holdings 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 valued at $234,386,000 after acquiring an additional 5,625,545 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings in Warner Bros. Discovery by 2.6% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock valued at $176,523,000 after acquiring an additional 541,192 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in Warner Bros. Discovery by 1.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock valued at $172,338,000 after acquiring an additional 329,620 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Warner Bros. Discovery by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock valued at $129,405,000 after acquiring an additional 687,612 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $10.28 on Friday. The company’s 50 day simple moving average is $8.26 and its 200-day simple moving average is $7.92. The company has a market capitalization of $25.22 billion, a price-to-earnings ratio of -2.24 and a beta of 1.48. Warner Bros. Discovery has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.17) earnings per share. As a group, equities research analysts expect that Warner Bros. Discovery will post -4.37 earnings per share for the current year.

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.