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

Warner Bros. Discovery (NASDAQ:WBD)‘s stock had its “outperform” rating reissued by equities research analysts at Barrington Research in a report released on Thursday,Benzinga reports. They currently have a $16.00 price target on the stock. Barrington Research’s price objective indicates a potential upside of 39.62% from the stock’s current price.

WBD has been the subject of several other reports. Benchmark restated a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Barclays raised their target price on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Bank of America reiterated a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Finally, Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price target for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.75.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $11.46 on Thursday. Warner Bros. Discovery has a 12 month low of $6.64 and a 12 month high of $12.70. The stock’s 50 day moving average is $10.32 and its 200-day moving average is $9.22. 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 company has a market capitalization of $28.11 billion, a price-to-earnings ratio of -2.50, a PEG ratio of 8.64 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The company had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Equities research analysts expect that Warner Bros. Discovery will post -4.33 EPS for the current year.

Insiders Place Their Bets

In related news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the sale, the insider now owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of hedge funds have recently modified their holdings of WBD. AMF Tjanstepension AB purchased a new stake in shares of Warner Bros. Discovery during the third quarter worth $1,031,000. Allspring Global Investments Holdings LLC increased its stake in Warner Bros. Discovery by 1.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 107,240 shares of the company’s stock valued at $885,000 after acquiring an additional 1,651 shares during the last quarter. International Assets Investment Management LLC boosted its position in Warner Bros. Discovery by 629.4% during the third quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock valued at $1,561,000 after buying an additional 163,295 shares during the period. DekaBank Deutsche Girozentrale boosted its position in Warner Bros. Discovery by 55.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 614,390 shares of the company’s stock valued at $5,079,000 after buying an additional 218,270 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in Warner Bros. Discovery by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 260,070 shares of the company’s stock valued at $2,145,000 after buying an additional 17,590 shares during the period. Institutional investors own 59.95% of the company’s stock.

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.