Morgan Stanley Cuts Warner Bros. Discovery (NASDAQ:WBD) Price Target to $9.00

Warner Bros. Discovery (NASDAQ:WBD) had its price objective decreased by Morgan Stanley from $10.00 to $9.00 in a report published on Monday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. Sanford C. Bernstein lowered their price objective on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an outperform rating for the company in a research report on Friday, May 10th. Macquarie cut shares of Warner Bros. Discovery from an outperform rating to a neutral rating and set a $9.00 price objective for the company. in a research report on Thursday, July 25th. The Goldman Sachs Group began coverage on shares of Warner Bros. Discovery in a research report on Tuesday, June 25th. They set a neutral rating and a $8.50 price objective for the company. Needham & Company LLC reaffirmed a hold rating on shares of Warner Bros. Discovery in a research report on Friday, May 10th. Finally, Wolfe Research cut shares of Warner Bros. Discovery from a peer perform rating to an underperform rating and set a $7.00 price objective for the company. in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $11.82.

Warner Bros. Discovery Stock Down 1.5 %

Shares of NASDAQ WBD opened at $8.65 on Monday. The company has a 50 day simple moving average of $7.75 and a 200-day simple moving average of $8.51. The company has a market capitalization of $21.20 billion, a P/E ratio of -6.98 and a beta of 1.49. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. 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 quarterly earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). The firm had revenue of $9.96 billion for the quarter, compared to analyst estimates 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 firm’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 EPS. On average, equities research analysts predict that Warner Bros. Discovery will post -0.41 earnings per share for the current year.

Institutional Investors Weigh In On Warner Bros. Discovery

Institutional investors have recently modified their holdings of the company. Essex Financial Services Inc. raised its stake in Warner Bros. Discovery by 25.8% during the 2nd quarter. Essex Financial Services Inc. now owns 16,515 shares of the company’s stock worth $123,000 after acquiring an additional 3,383 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Warner Bros. Discovery in the second quarter valued at about $4,808,000. Banque Cantonale Vaudoise raised its holdings in shares of Warner Bros. Discovery by 2,729.2% in the second quarter. Banque Cantonale Vaudoise now owns 23,737 shares of the company’s stock valued at $176,000 after buying an additional 22,898 shares during the last quarter. Ingalls & Snyder LLC raised its holdings in shares of Warner Bros. Discovery by 224.0% in the second quarter. Ingalls & Snyder LLC now owns 135,084 shares of the company’s stock valued at $1,005,000 after buying an additional 93,392 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Warner Bros. Discovery by 1.3% in the second quarter. Commonwealth Equity Services LLC now owns 626,622 shares of the company’s stock valued at $4,662,000 after buying an additional 8,066 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

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.