Warner Bros. Discovery (NASDAQ:WBD) Trading 5.2% Higher

Warner Bros. Discovery, Inc. (NASDAQ:WBDGet Free Report) shot up 5.2% on Friday . The stock traded as high as $8.52 and last traded at $8.50. 16,687,065 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 27,883,238 shares. The stock had previously closed at $8.08.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WBD shares. Wolfe Research cut Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective for the company. in a report on Tuesday, April 23rd. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, May 10th. KeyCorp upgraded shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price objective for the company in a report on Friday, May 10th. Benchmark restated a “buy” rating and issued a $20.00 target price on shares of Warner Bros. Discovery in a research note on Monday, March 4th. Finally, Morgan Stanley reduced their target price on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.16.

Read Our Latest Stock Analysis on WBD

Warner Bros. Discovery Trading Up 2.0 %

The firm has a market capitalization of $20.19 billion, a PE ratio of -6.65 and a beta of 1.51. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. The company’s 50-day simple moving average is $8.21 and its 200 day simple moving average is $9.56.

Warner Bros. Discovery (NASDAQ:WBDGet Free Report) last posted its earnings results on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The firm had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.22 billion. During the same period in the previous year, the company earned $0.18 EPS. The company’s revenue was down 6.9% on a year-over-year basis. As a group, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current year.

Institutional Investors Weigh In On Warner Bros. Discovery

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Advisors LLC increased its holdings in shares of Warner Bros. Discovery by 26.5% during the first quarter. Cetera Advisors LLC now owns 89,301 shares of the company’s stock valued at $780,000 after acquiring an additional 18,699 shares in the last quarter. Cetera Investment Advisers increased its stake in Warner Bros. Discovery by 356.6% during the 1st quarter. Cetera Investment Advisers now owns 498,545 shares of the company’s stock valued at $4,352,000 after purchasing an additional 389,366 shares in the last quarter. Swedbank AB acquired a new position in Warner Bros. Discovery during the 1st quarter valued at approximately $9,897,000. LRI Investments LLC purchased a new position in shares of Warner Bros. Discovery in the first quarter worth $39,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in shares of Warner Bros. Discovery during the first quarter worth $88,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Company Profile

(Get Free Report)

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.

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