Warner Bros. Discovery (NASDAQ:WBD) Stock Rating Lowered by Wolfe Research

Warner Bros. Discovery (NASDAQ:WBD) was downgraded by analysts at Wolfe Research from a “peer perform” rating to an “underperform” rating in a report issued on Tuesday, Marketbeat.com reports. They currently have a $7.00 target price on the stock. Wolfe Research’s price target indicates a potential downside of 17.36% from the stock’s current price.

A number of other analysts have also issued reports on WBD. Barclays dropped their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday, February 29th. Morgan Stanley reduced their price target 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. Benchmark restated a “buy” rating and set a $20.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, March 4th. Barrington Research reduced their target price on Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. Finally, Macquarie lowered their price target on Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. One 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $13.83.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD opened at $8.47 on Tuesday. The business has a 50-day moving average of $8.77 and a two-hundred day moving average of $10.04. The firm has a market capitalization of $20.66 billion, a PE ratio of -6.62 and a beta of 1.51. Warner Bros. Discovery has a 12 month low of $8.02 and a 12 month high of $14.76. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93.

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

Institutional Trading of Warner Bros. Discovery

Large investors have recently added to or reduced their stakes in the business. Park Place Capital Corp raised its position in shares of Warner Bros. Discovery by 33.4% during the 3rd quarter. Park Place Capital Corp now owns 3,677 shares of the company’s stock worth $40,000 after buying an additional 921 shares in the last quarter. Forum Financial Management LP increased its position in shares of Warner Bros. Discovery by 2.3% during the 3rd quarter. Forum Financial Management LP now owns 42,179 shares of the company’s stock valued at $458,000 after purchasing an additional 948 shares during the period. Bridgeworth LLC raised its stake in shares of Warner Bros. Discovery by 7.4% in the 4th quarter. Bridgeworth LLC now owns 13,845 shares of the company’s stock worth $158,000 after buying an additional 952 shares in the last quarter. Czech National Bank boosted its stake in Warner Bros. Discovery by 0.3% during the fourth quarter. Czech National Bank now owns 388,660 shares of the company’s stock valued at $4,423,000 after buying an additional 996 shares in the last quarter. Finally, Harbour Capital Advisors LLC grew its holdings in Warner Bros. Discovery by 1.8% during the fourth quarter. Harbour Capital Advisors LLC now owns 56,833 shares of the company’s stock worth $642,000 after acquiring an additional 1,025 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

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.