Warner Bros. Discovery (NASDAQ:WBD) Shares Up 2%

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) shot up 2% during mid-day trading on Tuesday . The stock traded as high as $7.28 and last traded at $7.24. 4,667,782 shares changed hands during trading, a decline of 83% from the average session volume of 27,851,549 shares. The stock had previously closed at $7.10.

Wall Street Analysts Forecast Growth

WBD has been the topic of several research reports. Sanford C. Bernstein cut their price objective on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Benchmark reiterated a “buy” rating and set a $20.00 target price on shares of Warner Bros. Discovery in a report on Monday, June 17th. The Goldman Sachs Group started coverage on shares of Warner Bros. Discovery in a research report on Tuesday, June 25th. They issued a “neutral” rating and a $8.50 price objective for the company. KeyCorp raised Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 target price on the stock in a report on Friday, May 10th. Finally, Rosenblatt Securities raised shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and increased their price target for the company from $7.00 to $10.00 in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $12.82.

Warner Bros. Discovery Price Performance

The firm has a market cap of $17.50 billion, a price-to-earnings ratio of -5.84 and a beta of 1.50. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87. The business’s 50-day simple moving average is $7.83 and its two-hundred day simple moving average is $9.04.

Warner Bros. Discovery (NASDAQ:WBD) last released its 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 firm had revenue of $9.96 billion during the quarter, compared to analyst estimates of $10.22 billion. During the same quarter in the previous year, the firm earned $0.18 EPS. Warner Bros. Discovery’s quarterly revenue was down 6.9% on a year-over-year basis. As a group, research analysts expect that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current fiscal year.

Institutional Trading of Warner Bros. Discovery

Several hedge funds have recently modified their holdings of WBD. Fortis Group Advisors LLC acquired a new stake in Warner Bros. Discovery in the third quarter worth $25,000. Pacifica Partners Inc. grew its stake in shares of Warner Bros. Discovery by 118.2% in the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after buying an additional 1,345 shares during the period. Crewe Advisors LLC bought a new stake in Warner Bros. Discovery in the 1st quarter valued at about $27,000. Headinvest LLC acquired a new position in Warner Bros. Discovery during the 3rd quarter worth approximately $28,000. Finally, First Financial Corp IN boosted its holdings in Warner Bros. Discovery by 577.4% in the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after acquiring an additional 2,887 shares in the last quarter. 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.