Warner Bros. Discovery (NASDAQ:WBD) Trading Up 5.5% – Here’s Why

by · The Cerbat Gem

Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Free Report) was up 5.5% on Wednesday . The company 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.

Wall Street Analysts Forecast Growth

WBD has been the subject of several research analyst reports. Macquarie raised their price target on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft cut their price objective on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Moffett Nathanson reduced their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company lowered their price objective on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Hold” and an average price target of $10.55.

Get Our Latest Stock Report on WBD

Warner Bros. Discovery Stock Performance

The company has a 50 day moving average of $8.20 and a 200 day moving average of $7.90. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a market cap of $24.16 billion, a price-to-earnings ratio of -2.07 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. The business had revenue of $9.62 billion for 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 firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.17) EPS. As a group, equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Warner Bros. Discovery

Institutional investors and hedge funds have recently bought and sold shares of the business. Crewe Advisors LLC acquired a new stake in Warner Bros. Discovery during the 1st quarter worth about $27,000. Family Firm Inc. purchased a new position in shares of Warner Bros. Discovery in the second quarter valued at $26,000. OFI Invest Asset Management raised its stake in Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after acquiring an additional 1,221 shares during the period. Transcendent Capital Group LLC grew its holdings in Warner Bros. Discovery by 665.4% during the first quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock worth $35,000 after acquiring an additional 3,480 shares during the period. Finally, LRI Investments LLC purchased a new stake in shares of Warner Bros. Discovery during the first quarter worth $39,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

About Warner Bros. Discovery

(Get Free Report)

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.

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