Warner Bros. Discovery (NASDAQ:WBD) Downgraded by Wolfe Research

Wolfe Research cut shares of Warner Bros. Discovery (NASDAQ:WBD) from a peer perform rating to an underperform rating in a research report report published on Tuesday morning, MarketBeat Ratings reports. Wolfe Research currently has $7.00 target price on the stock.

WBD has been the topic of a number of other reports. Benchmark reaffirmed a buy rating and issued a $20.00 price target on shares of Warner Bros. Discovery in a research note on Monday, March 4th. Citigroup decreased their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a buy rating on the stock in a research note on Thursday, February 29th. Barrington Research decreased their target price on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an outperform rating on the stock in a research note on Monday, February 26th. Macquarie decreased their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an outperform rating on the stock in a research note on Monday, January 22nd. Finally, Barclays decreased their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an equal weight rating on the stock in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $13.83.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $8.44 on Tuesday. Warner Bros. Discovery has a 52 week low of $8.02 and a 52 week high of $14.76. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $20.59 billion, a PE ratio of -6.59 and a beta of 1.51. The stock’s 50-day moving average price is $8.74 and its 200-day moving average price is $10.03.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). The company had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.34 billion. Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 earnings per share. As a group, equities analysts expect that Warner Bros. Discovery will post -0.35 EPS for the current fiscal year.

Institutional Trading of Warner Bros. Discovery

Several institutional investors have recently added to or reduced their stakes in WBD. Oppenheimer & Co. Inc. grew its stake in shares of Warner Bros. Discovery by 15.2% in the third quarter. Oppenheimer & Co. Inc. now owns 409,018 shares of the company’s stock worth $4,442,000 after acquiring an additional 53,909 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Warner Bros. Discovery by 39.9% in the third quarter. Daiwa Securities Group Inc. now owns 423,008 shares of the company’s stock worth $4,594,000 after acquiring an additional 120,586 shares in the last quarter. New South Capital Management Inc. grew its stake in shares of Warner Bros. Discovery by 21.1% in the third quarter. New South Capital Management Inc. now owns 4,082,322 shares of the company’s stock worth $44,334,000 after acquiring an additional 711,820 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Warner Bros. Discovery by 4.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company’s stock worth $9,168,000 after acquiring an additional 36,405 shares in the last quarter. Finally, Anchor Investment Management LLC acquired a new position in shares of Warner Bros. Discovery in the fourth quarter worth $105,000. Institutional investors and hedge funds 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.