Warner Bros. Discovery (NASDAQ:WBD) Given “Buy” Rating at Benchmark

Benchmark reiterated their buy rating on shares of Warner Bros. Discovery (NASDAQ:WBDFree Report) in a report released on Monday morning, Benzinga reports. They currently have a $20.00 price objective on the stock.

A number of other analysts have also weighed in on the stock. Wells Fargo & Company lowered shares of Warner Bros. Discovery from an overweight rating to an equal weight rating and lowered their price objective for the stock from $16.00 to $12.00 in a research note on Monday, January 29th. JPMorgan Chase & Co. decreased their price target on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a neutral rating for the company in a research report on Monday, February 26th. Barclays decreased 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 report on Thursday, February 29th. Redburn Atlantic lowered shares of Warner Bros. Discovery from a buy rating to a neutral rating and set a $11.00 price target for the company. in a research report on Thursday, January 11th. Finally, Morgan Stanley decreased their price target on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an equal weight rating for the company in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $14.39.

Get Our Latest Stock Report on WBD

Warner Bros. Discovery Trading Down 6.5 %

WBD stock opened at $8.11 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. Warner Bros. Discovery has a twelve month low of $8.10 and a twelve month high of $15.85. The firm’s fifty day simple moving average is $10.22 and its two-hundred day simple moving average is $10.79.

Warner Bros. Discovery (NASDAQ:WBDGet Free Report) last posted its quarterly earnings data on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The firm had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.34 billion. During the same quarter last year, the firm earned $0.42 EPS. The company’s revenue was down 6.6% on a year-over-year basis. Analysts predict that Warner Bros. Discovery will post -0.28 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Programming P. Advance/Newhouse sold 10,000,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $12.49, for a total transaction of $124,900,000.00. Following the completion of the sale, the director now directly owns 184,023,290 shares of the company’s stock, valued at approximately $2,298,450,892.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its holdings in Warner Bros. Discovery by 7.7% in the second quarter. State Street Corp now owns 118,339,932 shares of the company’s stock valued at $1,483,983,000 after purchasing an additional 8,495,066 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Warner Bros. Discovery by 0.5% in the second quarter. Geode Capital Management LLC now owns 48,652,909 shares of the company’s stock valued at $608,531,000 after purchasing an additional 258,437 shares in the last quarter. Invesco Ltd. boosted its holdings in Warner Bros. Discovery by 16.6% in the third quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock valued at $306,085,000 after purchasing an additional 4,016,888 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Warner Bros. Discovery by 124,559.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 28,075,738 shares of the company’s stock valued at $266,158,000 after purchasing an additional 28,053,216 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Warner Bros. Discovery by 17.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after purchasing an additional 3,710,343 shares in the last quarter. 58.26% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading

Analyst Recommendations for Warner Bros. Discovery (NASDAQ:WBD)

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