Warner Bros. Discovery’s (WBD) Neutral Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reissued their neutral rating on shares of Warner Bros. Discovery (NASDAQ:WBD) in a research note released on Friday morning, Benzinga reports. They currently have a $9.00 target price on the stock.

Several other research analysts have also issued reports on WBD. TD Cowen dropped their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a buy rating for the company in a research note on Thursday, August 8th. The Goldman Sachs Group dropped their target price on shares of Warner Bros. Discovery from $8.50 to $7.50 and set a neutral rating for the company in a research report on Thursday, August 8th. Needham & Company LLC restated a hold rating on shares of Warner Bros. Discovery in a research report on Thursday, August 8th. Sanford C. Bernstein lowered shares of Warner Bros. Discovery from an outperform rating to a market perform rating and dropped their price objective for the stock from $10.00 to $8.00 in a report on Tuesday, August 13th. Finally, Benchmark reduced their target price on Warner Bros. Discovery from $20.00 to $18.00 and set a buy rating on the stock in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $10.93.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock opened at $8.49 on Friday. The firm has a market cap of $20.82 billion, a P/E ratio of -6.85 and a beta of 1.48. The firm’s 50-day simple moving average is $7.73 and its 200-day simple moving average is $7.98. Warner Bros. Discovery has a twelve month low of $6.64 and a twelve month high of $12.70. 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 (NASDAQ:WBD) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The company had revenue of $9.71 billion for the quarter, compared to analyst estimates of $10.07 billion. During the same period in the previous year, the firm posted ($0.51) earnings per share. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, research analysts expect that Warner Bros. Discovery will post -4.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. bought a new stake in Warner Bros. Discovery in the 4th quarter valued at $33,000. FinTrust Capital Advisors LLC lifted its holdings in shares of Warner Bros. Discovery by 56.3% in the fourth quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock valued at $35,000 after purchasing an additional 1,105 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of Warner Bros. Discovery during the first quarter worth about $27,000. First Financial Corp IN grew its holdings in shares of Warner Bros. Discovery by 577.4% during the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after buying an additional 2,887 shares in the last quarter. Finally, Family Firm Inc. acquired a new stake in shares of Warner Bros. Discovery in the second quarter valued at approximately $26,000. Institutional investors own 59.95% of the company’s stock.

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.