Bank of America Reiterates Buy Rating for Warner Bros. Discovery (NASDAQ:WBD)

Warner Bros. Discovery (NASDAQ:WBD)‘s stock had its “buy” rating reiterated by equities researchers at Bank of America in a report released on Thursday,Benzinga reports. They presently have a $14.00 price objective on the stock. Bank of America‘s price target would suggest a potential upside of 15.99% from the stock’s previous close.

Several other research firms have also commented on WBD. Barclays upped their price target on shares of 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. Barrington Research reaffirmed an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, November 7th. Macquarie upped their price objective 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Finally, Guggenheim upped their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Thursday. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Hold” and an average price target of $11.33.

Warner Bros. Discovery Stock Down 3.4 %

WBD stock opened at $12.07 on Thursday. The firm has a fifty day moving average price of $9.11 and a two-hundred day moving average price of $8.24. The firm has a market cap of $29.61 billion, a price-to-earnings ratio of -2.64 and a beta of 1.52. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery has a 1-year low of $6.64 and a 1-year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates 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 company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. Research analysts predict that Warner Bros. Discovery will post -4.37 EPS for the current year.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of hedge funds have recently added to or reduced their stakes in WBD. State Street Corp boosted its position in shares of Warner Bros. Discovery by 4.1% in the third 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 period. Sessa Capital IM L.P. boosted its position in shares of Warner Bros. Discovery by 24.7% in the third 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 period. Retirement Systems of Alabama boosted its position in shares of Warner Bros. Discovery by 781.3% in the second quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock valued at $32,115,000 after acquiring an additional 3,826,715 shares during the period. Mackenzie Financial Corp boosted its position in shares of Warner Bros. Discovery by 1,216.7% in the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after acquiring an additional 2,780,986 shares during the period. Finally, Drexel Morgan & Co. boosted its position in shares of Warner Bros. Discovery by 43.5% in the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock valued at $54,454,000 after acquiring an additional 2,000,000 shares during the period. Institutional investors and hedge funds 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.