Warner Bros. Discovery (NASDAQ:WBD) Upgraded to Outperform by Barrington Research

Barrington Research upgraded shares of Warner Bros. Discovery (NASDAQ:WBD – Get Rating) from a market perform rating to an outperform rating in a research report sent to investors on Tuesday morning, The Fly reports. The firm currently has $18.00 target price on the stock.

Several other analysts also recently issued reports on WBD. Rosenblatt Securities upped their price target on Warner Bros. Discovery from $9.00 to $11.00 and gave the stock a sell rating in a research note on Friday, February 24th. Wolfe Research upgraded Warner Bros. Discovery from a peer perform rating to an outperform rating and set a $20.00 target price for the company in a research report on Friday, March 17th. Macquarie lifted their price objective on Warner Bros. Discovery from $16.00 to $20.00 and gave the company an outperform rating in a research report on Tuesday, January 31st. Morgan Stanley lifted their target price on Warner Bros. Discovery from $14.00 to $17.00 and gave the company an equal weight rating in a research note on Monday, January 30th. Finally, Truist Financial began coverage on Warner Bros. Discovery in a research note on Monday, April 10th. They set a buy rating and a $19.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $20.83.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $12.15 on Tuesday. The company has a market capitalization of $29.52 billion, a price-to-earnings ratio of -3.24, a price-to-earnings-growth ratio of 1.98 and a beta of 1.47. Warner Bros. Discovery has a 52-week low of $8.82 and a 52-week high of $18.76. The stock has a 50 day moving average price of $13.95 and a 200 day moving average price of $12.95. The company has a quick ratio of 0.93, a current ratio of 0.84 and a debt-to-equity ratio of 0.96.

Warner Bros. Discovery (NASDAQ:WBD – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The company reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.45. Warner Bros. Discovery had a positive return on equity of 3.24% and a negative net margin of 21.51%. The business had revenue of $11.01 billion during the quarter, compared to analysts’ expectations of $11.03 billion. Research analysts predict that Warner Bros. Discovery will post 1.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Warner Bros. Discovery

Several hedge funds and other institutional investors have recently modified their holdings of the company. Aspire Private Capital LLC raised its position in Warner Bros. Discovery by 33.2% in the fourth quarter. Aspire Private Capital LLC now owns 2,823 shares of the company’s stock worth $26,762,040,000 after acquiring an additional 704 shares during the period. Kestra Private Wealth Services LLC raised its stake in shares of Warner Bros. Discovery by 1.9% during the 4th quarter. Kestra Private Wealth Services LLC now owns 38,375 shares of the company’s stock worth $364,000 after acquiring an additional 708 shares in the last quarter. Kentucky Retirement Systems increased its stake in Warner Bros. Discovery by 0.4% during the 4th quarter. Kentucky Retirement Systems now owns 173,683 shares of the company’s stock valued at $1,647,000 after purchasing an additional 759 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Warner Bros. Discovery by 1.6% in the first quarter. Avantax Advisory Services Inc. now owns 50,356 shares of the company’s stock worth $760,000 after acquiring an additional 770 shares during the period. Finally, New York Life Investment Management LLC boosted its holdings in Warner Bros. Discovery by 0.3% during the first quarter. New York Life Investment Management LLC now owns 314,279 shares of the company’s stock worth $4,746,000 after buying an additional 799 shares in the last quarter. 55.18% of the stock is owned by institutional investors.

Warner Bros. Discovery Company Profile

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Warner Bros. Discovery, Inc operates as a media and entertainment company. It creates and distributes a portfolio of content and brands across television, film, and streaming. Its brands and products include Discovery Channel, discovery+, CNN, CNN+, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, Investigation Discovery, TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, Warner Bros.