Warner Bros. Discovery (NASDAQ:WBD) Earns Neutral Rating from Analysts at The Goldman Sachs Group

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

Several other equities analysts have also recently issued reports on WBD. Barrington Research reiterated an outperform rating and set a $15.00 price target on shares of Warner Bros. Discovery in a research report on Tuesday, May 28th. KeyCorp upgraded 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. Wolfe Research cut shares of Warner Bros. Discovery from a peer perform rating to an underperform rating and set a $7.00 price objective on the stock. in a report on Tuesday, April 23rd. Morgan Stanley cut their price objective on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an equal weight rating on the stock in a report on Monday, February 26th. Finally, Rosenblatt Securities upgraded shares of Warner Bros. Discovery from a sell rating to a neutral rating and upped their price objective for the stock from $7.00 to $10.00 in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $12.82.

Get Our Latest Research Report on Warner Bros. Discovery

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD opened at $7.35 on Tuesday. The company has a market cap of $18.01 billion, a price-to-earnings ratio of -5.93 and a beta of 1.53. The company has a 50-day moving average price of $7.88 and a 200-day moving average price of $9.14. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87. Warner Bros. Discovery has a 12 month low of $6.94 and a 12 month high of $14.76.

Warner Bros. Discovery (NASDAQ:WBDGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.22 billion. During the same quarter in the prior year, the firm earned $0.18 EPS. Warner Bros. Discovery’s quarterly revenue was down 6.9% compared to the same quarter last year. As a group, equities analysts anticipate that Warner Bros. Discovery will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its position in Warner Bros. Discovery by 17.0% during 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 during the period. EdgePoint Investment Group Inc. raised its position in Warner Bros. Discovery by 14.6% in the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock worth $180,016,000 after acquiring an additional 2,621,582 shares during the period. Norges Bank bought a new position in Warner Bros. Discovery in the fourth quarter worth approximately $198,916,000. Boston Partners raised its position in Warner Bros. Discovery by 9.9% in the fourth quarter. Boston Partners now owns 15,640,771 shares of the company’s stock worth $177,384,000 after acquiring an additional 1,414,952 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Warner Bros. Discovery by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,672,632 shares of the company’s stock worth $155,594,000 after acquiring an additional 575,123 shares during the period. Institutional investors own 59.95% of the company’s stock.

About Warner Bros. Discovery

(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.

Recommended Stories

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

Receive News & Ratings for Warner Bros. Discovery Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Warner Bros. Discovery and related companies with MarketBeat.com's FREE daily email newsletter.