Warner Bros. Discovery (NASDAQ:WBD) Shares Gap Up After Analyst Upgrade

Warner Bros. Discovery, Inc. (NASDAQ:WBD)’s share price gapped up before the market opened on Thursday after Guggenheim raised their price target on the stock from $11.00 to $12.50. The stock had previously closed at $10.82, but opened at $11.40. Guggenheim currently has a buy rating on the stock. Warner Bros. Discovery shares last traded at $12.34, with a volume of 16,720,608 shares.

A number of other research analysts also recently weighed in on the company. Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. The Goldman Sachs Group increased their price objective on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Monday, October 7th. Barclays boosted their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. KeyCorp increased their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Raymond James boosted their price objective on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.95.

Institutional Trading of Warner Bros. Discovery

Hedge funds have recently bought and sold shares of the stock. Family Firm Inc. bought a new position in shares of Warner Bros. Discovery during the 2nd quarter valued at approximately $26,000. OFI Invest Asset Management boosted its position in shares of Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after purchasing an additional 1,221 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Warner Bros. Discovery during the 3rd quarter valued at $41,000. Larson Financial Group LLC lifted its stake in shares of Warner Bros. Discovery by 54.1% during the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after buying an additional 1,754 shares in the last quarter. Finally, Quarry LP boosted its holdings in Warner Bros. Discovery by 2,185.1% in the 2nd quarter. Quarry LP now owns 6,307 shares of the company’s stock worth $47,000 after buying an additional 6,031 shares during the period. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a 50 day simple moving average of $9.02 and a 200-day simple moving average of $8.21. The firm has a market cap of $30.64 billion, a PE ratio of -2.73 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (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 for the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter last year, the company earned ($0.17) EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal 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.