Wolfe Research Downgrades Warner Bros. Discovery (NASDAQ:WBD) to Underperform

Wolfe Research downgraded shares of Warner Bros. Discovery (NASDAQ:WBD - Free Report) from a peer perform rating to an underperform rating in a research note released on Tuesday morning, MarketBeat reports. The brokerage currently has $7.00 price objective on the stock.

A number of other research firms have also recently commented on WBD. Macquarie decreased their price target on Warner Bros. Discovery from $16.00 to $14.00 and set an outperform rating for the company in a research note on Monday, January 22nd. Barrington Research reduced their price target on Warner Bros. Discovery from $18.00 to $16.00 and set an outperform rating for the company in a research report on Monday, February 26th. Barclays reduced their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an equal weight rating for the company in a research report on Thursday, February 29th. JPMorgan Chase & Co. dropped their price objective on Warner Bros. Discovery from $13.00 to $10.00 and set a neutral rating on the stock in a report on Monday, February 26th. Finally, Redburn Atlantic lowered Warner Bros. Discovery from a buy rating to a neutral rating and set a $11.00 price objective on the stock. in a report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $13.83.

Warner Bros. Discovery Stock Down 0.4 %

Shares of WBD traded down $0.03 during midday trading on Tuesday, reaching $8.44. 25,124,931 shares of the stock were exchanged, compared to its average volume of 26,574,645. Warner Bros. Discovery has a 52 week low of $8.02 and a 52 week high of $14.76. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. The company's 50 day moving average is $8.74 and its two-hundred day moving average is $10.03. The company has a market capitalization of $20.59 billion, a P/E ratio of -6.59 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The company had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.34 billion. During the same period in the previous year, the business earned $0.42 EPS. Warner Bros. Discovery's revenue for the quarter was down 6.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Warner Bros. Discovery will post -0.35 earnings per share for the current year.

Institutional Investors Weigh In On Warner Bros. Discovery

Several institutional investors and hedge funds have recently modified their holdings of WBD. Invesco Ltd. grew its stake in Warner Bros. Discovery by 16.6% during the 3rd quarter. Invesco Ltd. now owns 28,184,613 shares of the company's stock worth $306,085,000 after purchasing an additional 4,016,888 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Warner Bros. Discovery by 17.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company's stock worth $290,579,000 after purchasing an additional 3,710,343 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Warner Bros. Discovery by 12.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company's stock worth $237,007,000 after purchasing an additional 2,356,665 shares in the last quarter. Northern Trust Corp grew its stake in Warner Bros. Discovery by 2.6% during the 3rd quarter. Northern Trust Corp now owns 20,873,998 shares of the company's stock worth $226,692,000 after purchasing an additional 524,965 shares in the last quarter. Finally, Norges Bank acquired a new position in Warner Bros. Discovery during the 4th quarter worth $198,916,000. Hedge funds and other 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.