Barrington Research Reiterates “Outperform” Rating for Warner Bros. Discovery (NASDAQ:WBD)

Warner Bros. Discovery (NASDAQ:WBD)‘s stock had its “outperform” rating reaffirmed by analysts at Barrington Research in a research note issued to investors on Friday,Benzinga reports. They currently have a $16.00 target price on the stock. Barrington Research’s target price would indicate a potential upside of 32.56% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Guggenheim raised their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Bank of America reissued a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a research note on Thursday. Benchmark restated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Finally, Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.33.

Warner Bros. Discovery Stock Down 3.4 %

NASDAQ:WBD opened at $12.07 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $29.61 billion, a price-to-earnings ratio of -2.64 and a beta of 1.52. Warner Bros. Discovery has a one year low of $6.64 and a one year high of $12.70. The stock has a 50-day simple moving average of $9.11 and a 200 day simple moving average of $8.24.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same period last year, the business posted ($0.17) earnings per share. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. Sell-side analysts predict that Warner Bros. Discovery will post -4.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Warner Bros. Discovery

Institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Warner Bros. Discovery by 19.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 187,629 shares of the company’s stock worth $1,396,000 after acquiring an additional 30,138 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Warner Bros. Discovery by 1,063.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 438,792 shares of the company’s stock valued at $3,265,000 after buying an additional 401,079 shares during the last quarter. OFI Invest Asset Management grew its stake in shares of Warner Bros. Discovery by 45.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after buying an additional 1,221 shares in the last quarter. Raymond James & Associates increased its holdings in Warner Bros. Discovery by 0.3% in the second quarter. Raymond James & Associates now owns 1,466,922 shares of the company’s stock worth $10,914,000 after buying an additional 4,554 shares during the last quarter. Finally, Williams Financial LLC bought a new position in Warner Bros. Discovery during the second quarter valued at approximately $322,000. 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.