Warner Bros. Discovery’s (WBD) “Outperform” Rating Reaffirmed at Barrington Research

Warner Bros. Discovery (NASDAQ:WBD)‘s stock had its “outperform” rating restated by Barrington Research in a report issued on Thursday,Benzinga reports. They presently have a $12.00 price objective on the stock. Barrington Research’s price objective points to a potential upside of 29.45% from the company’s previous close.

A number of other brokerages also recently issued reports on WBD. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Macquarie cut their price objective on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Evercore ISI cut their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Hold” and a consensus target price of $10.66.

Warner Bros. Discovery Stock Up 10.6 %

Warner Bros. Discovery stock traded up $0.89 during mid-day trading on Thursday, reaching $9.27. 55,679,683 shares of the company were exchanged, compared to its average volume of 28,988,617. The firm has a market cap of $22.73 billion, a P/E ratio of -1.94 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. Warner Bros. Discovery has a 12-month low of $6.64 and a 12-month high of $12.70. The business has a fifty day moving average of $7.84 and a 200 day moving average of $7.82.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The firm had revenue of $9.71 billion for the quarter, compared to analysts’ expectations of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.51) earnings per share. Research analysts anticipate that Warner Bros. Discovery will post -4.51 earnings per share for the current fiscal year.

Institutional Trading of Warner Bros. Discovery

Large investors have recently added to or reduced their stakes in the stock. Crewe Advisors LLC purchased a new stake in shares of Warner Bros. Discovery during the 1st quarter valued at approximately $27,000. Family Firm Inc. purchased a new stake in Warner Bros. Discovery in the second quarter valued at $26,000. OFI Invest Asset Management grew its holdings in shares of Warner Bros. Discovery by 45.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after purchasing an additional 1,221 shares during the period. Transcendent Capital Group LLC increased its position in shares of Warner Bros. Discovery by 665.4% during the first quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock valued at $35,000 after acquiring an additional 3,480 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Warner Bros. Discovery in the 1st quarter worth approximately $39,000. 59.95% of the stock is currently 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.