Warner Bros. Discovery (NASDAQ:WBD) Coverage Initiated at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Warner Bros. Discovery (NASDAQ:WBD) in a research report report published on Tuesday, MarketBeat.com reports. The brokerage issued a neutral rating and a $8.50 price target on the stock.

Other analysts have also recently issued research reports about the stock. Barclays reduced their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an equal weight rating on the stock in a research report on Thursday, February 29th. KeyCorp raised shares of Warner Bros. Discovery from a sector weight rating to an overweight rating and set a $11.00 price target on the stock in a research report on Friday, May 10th. JPMorgan Chase & Co. reduced their price target on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a neutral rating on the stock in a research report on Monday, February 26th. Sanford C. Bernstein reduced their price target on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an outperform rating on the stock in a research report on Friday, May 10th. Finally, 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $12.82.

Warner Bros. Discovery Trading Up 1.4 %

Shares of WBD stock opened at $7.35 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $18.01 billion, a PE ratio of -5.93 and a beta of 1.53. The company has a 50-day moving average of $7.88 and a two-hundred day moving average of $9.14. Warner Bros. Discovery has a 1-year low of $6.94 and a 1-year high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The company had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period last year, the business earned $0.18 EPS. On average, analysts predict that Warner Bros. Discovery will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WBD. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Warner Bros. Discovery during the 3rd quarter worth $454,000. Envestnet Asset Management Inc. raised its stake in shares of Warner Bros. Discovery by 37.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,757,564 shares of the company’s stock worth $19,087,000 after buying an additional 482,234 shares during the last quarter. LPL Financial LLC raised its stake in shares of Warner Bros. Discovery by 10.7% during the 3rd quarter. LPL Financial LLC now owns 1,082,146 shares of the company’s stock worth $11,752,000 after buying an additional 104,566 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of Warner Bros. Discovery by 231.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 19,348 shares of the company’s stock worth $210,000 after buying an additional 13,505 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Warner Bros. Discovery by 12.1% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 25,614 shares of the company’s stock worth $278,000 after buying an additional 2,770 shares during the last quarter. 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.