Warner Bros. Discovery (NASDAQ:WBD) Trading 1.4% Higher

Warner Bros. Discovery, Inc. (NASDAQ:WBD)’s stock price shot up 1.4% during trading on Wednesday . The stock traded as high as $7.45 and last traded at $7.30. 6,266,931 shares changed hands during trading, a decline of 77% from the average session volume of 27,819,936 shares. The stock had previously closed at $7.20.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WBD. Wolfe Research lowered Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price target on the stock. in a research note on Tuesday, April 23rd. Benchmark reissued a “buy” rating and set a $20.00 price target on shares of Warner Bros. Discovery in a research note on Monday, June 17th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, May 10th. KeyCorp raised 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 note on Friday, May 10th. Finally, Rosenblatt Securities raised Warner Bros. Discovery from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $7.00 to $10.00 in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.82.

Warner Bros. Discovery Price Performance

The company has a fifty day simple moving average of $7.80 and a two-hundred day simple moving average of $9.00. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $17.84 billion, a price-to-earnings ratio of -5.89 and a beta of 1.50.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The business had revenue of $9.96 billion during the quarter, compared to analyst estimates of $10.22 billion. Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The company’s revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 earnings per share. As a group, research analysts anticipate that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current year.

Institutional Trading of Warner Bros. Discovery

Institutional investors have recently made changes to their positions in the stock. Fortis Group Advisors LLC purchased a new stake in Warner Bros. Discovery during the 3rd quarter worth $25,000. Pacifica Partners Inc. boosted its position in Warner Bros. Discovery by 118.2% during the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after purchasing an additional 1,345 shares during the period. Crewe Advisors LLC purchased a new stake in Warner Bros. Discovery during the 1st quarter worth $27,000. Headinvest LLC purchased a new stake in Warner Bros. Discovery during the 3rd quarter worth $28,000. Finally, First Financial Corp IN boosted its position in Warner Bros. Discovery by 577.4% during the 1st quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after purchasing an additional 2,887 shares during the period. 59.95% of the stock is 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.