Warner Bros. Discovery (NASDAQ:WBD) Trading Up 5.5% – Should You Buy?

Warner Bros. Discovery, Inc. (NASDAQ:WBD)’s stock price rose 5.5% during trading on Wednesday . The stock traded as high as $10.04 and last traded at $10.02. Approximately 18,681,138 shares changed hands during trading, a decline of 36% from the average daily volume of 29,366,012 shares. The stock had previously closed at $9.50.

Analyst Ratings Changes

Several analysts have issued reports on WBD shares. Barrington Research reiterated an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, November 7th. Benchmark reiterated a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Evercore ISI reduced their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Raymond James raised their price target on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, TD Cowen dropped their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.55.

Warner Bros. Discovery Price Performance

The company has a market cap of $25.27 billion, a PE ratio of -2.24 and a beta of 1.48. The business has a 50 day moving average of $8.26 and a 200 day moving average of $7.92. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.17) EPS. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

Institutional Investors Weigh In On Warner Bros. Discovery

Hedge funds have recently made changes to their positions in the company. Edgestream Partners L.P. purchased a new position in shares of Warner Bros. Discovery during the first quarter valued at approximately $511,000. O Shaughnessy Asset Management LLC raised its stake in Warner Bros. Discovery by 6.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 67,339 shares of the company’s stock valued at $588,000 after buying an additional 3,984 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Warner Bros. Discovery by 2.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 1,744,966 shares of the company’s stock worth $15,250,000 after acquiring an additional 47,111 shares in the last quarter. Crewe Advisors LLC purchased a new stake in shares of Warner Bros. Discovery in the first quarter worth $27,000. Finally, CreativeOne Wealth LLC bought a new position in shares of Warner Bros. Discovery during the first quarter valued at $119,000. 59.95% of the stock is currently owned by institutional investors.

About Warner Bros. Discovery

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.