Warner Bros. Discovery (NASDAQ:WBD) Trading 6.8% Higher – Here’s Why

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) traded up 6.8% during mid-day trading on Wednesday . The company traded as high as $9.89 and last traded at $9.85. 31,720,379 shares traded hands during trading, an increase of 8% from the average session volume of 29,266,477 shares. The stock had previously closed at $9.22.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Evercore ISI dropped their target price on shares of 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. The Goldman Sachs Group lifted their price target on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft decreased 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. Barrington Research reiterated an “outperform” rating and set a $12.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, November 7th. Finally, TD Cowen decreased their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Trading Up 5.4 %

The business has a 50 day moving average of $7.97 and a two-hundred day moving average of $7.84. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a market cap of $23.83 billion, a P/E ratio of -2.16 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.17) EPS. Analysts predict that Warner Bros. Discovery, Inc. will post -4.41 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Family Firm Inc. bought a new position in shares of Warner Bros. Discovery in the second quarter worth $26,000. Crewe Advisors LLC acquired a new stake in shares of Warner Bros. Discovery during the first quarter valued at about $27,000. OFI Invest Asset Management boosted its stake in shares of Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after purchasing an additional 1,221 shares in the last quarter. Transcendent Capital Group LLC boosted its stake 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 purchasing an additional 3,480 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Warner Bros. Discovery during the first quarter valued at about $39,000. Institutional investors own 59.95% of the company’s stock.

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.