Warner Bros. Discovery (NASDAQ:WBD) Stock Price Down 2.7%

Warner Bros. Discovery, Inc. (NASDAQ:WBD) dropped 2.7% on Monday . The stock traded as low as $7.23 and last traded at $7.24. Approximately 3,973,872 shares were traded during trading, a decline of 86% from the average daily volume of 27,787,646 shares. The stock had previously closed at $7.44.

Wall Street Analyst Weigh In

WBD has been the topic of several analyst reports. Sanford C. Bernstein reduced their price objective on Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, May 10th. Benchmark reaffirmed a “buy” rating and set a $20.00 target price on shares of Warner Bros. Discovery in a research note on Monday, June 17th. Wolfe Research cut Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 target price on the stock. in a research note on Tuesday, April 23rd. Finally, Rosenblatt Securities raised Warner Bros. Discovery from a “sell” rating to a “neutral” rating and upped their target price for the company from $7.00 to $10.00 in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $12.82.

Warner Bros. Discovery Stock Down 3.4 %

The business’s fifty day moving average price is $7.86 and its 200 day moving average price is $9.08. 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 firm has a market capitalization of $17.62 billion, a PE ratio of -5.84 and a beta of 1.50.

Warner Bros. Discovery (NASDAQ:WBD) last announced 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 business had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $10.22 billion. During the same period in the previous year, the company posted $0.18 earnings per share. Warner Bros. Discovery’s quarterly revenue was down 6.9% on a year-over-year basis. On average, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Fortis Group Advisors LLC acquired a new position in Warner Bros. Discovery during the third quarter worth about $25,000. Pacifica Partners Inc. grew its position in Warner Bros. Discovery by 118.2% during the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after buying an additional 1,345 shares during the period. Crewe Advisors LLC acquired a new position in Warner Bros. Discovery during the first quarter worth about $27,000. Headinvest LLC acquired a new position in Warner Bros. Discovery during the third quarter worth about $28,000. Finally, First Financial Corp IN grew its position in Warner Bros. Discovery by 577.4% during the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after buying an additional 2,887 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

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.