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Warner Bros. Discovery (NASDAQ:WBD) Trading Down 4.6%

Warner Bros. Discovery logo with Consumer Discretionary background

Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) fell 4.6% during mid-day trading on Thursday . The company traded as low as $7.41 and last traded at $7.45. 12,027,782 shares were traded during mid-day trading, a decline of 57% from the average session volume of 27,739,740 shares. The stock had previously closed at $7.81.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WBD. Wolfe Research downgraded shares of Warner Bros. Discovery from a "peer perform" rating to an "underperform" rating and set a $7.00 price target for the company. in a report on Tuesday, April 23rd. Barclays dropped their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 29th. Sanford C. Bernstein decreased their price objective on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an "outperform" rating for the company in a report on Friday, May 10th. JPMorgan Chase & Co. reduced their target price on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a "neutral" rating for the company in a research note on Monday, February 26th. Finally, Morgan Stanley reduced their target price on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an "equal weight" rating for the company in a research note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.16.

Get Our Latest Stock Report on Warner Bros. Discovery


Warner Bros. Discovery Stock Performance

The company has a market cap of $17.86 billion, a price-to-earnings ratio of -5.88 and a beta of 1.53. The firm has a 50-day simple moving average of $8.14 and a 200 day simple moving average of $9.41. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The firm had revenue of $9.96 billion for the quarter, compared to analyst estimates of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The company's quarterly revenue was down 6.9% on a year-over-year basis. During the same period last year, the firm earned $0.18 EPS. On average, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Trading of Warner Bros. Discovery

A number of institutional investors have recently modified their holdings of the business. Invesco Ltd. boosted its position in Warner Bros. Discovery by 16.6% during the third 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 lifted its position in shares of Warner Bros. Discovery by 17.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company's stock valued at $290,579,000 after acquiring an additional 3,710,343 shares in the last quarter. Northern Trust Corp lifted its position in shares of Warner Bros. Discovery by 2.6% in the third quarter. Northern Trust Corp now owns 20,873,998 shares of the company's stock valued at $226,692,000 after acquiring an additional 524,965 shares in the last quarter. EdgePoint Investment Group Inc. increased its stake in Warner Bros. Discovery by 14.6% in the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company's stock valued at $180,016,000 after purchasing an additional 2,621,582 shares during the last quarter. Finally, Norges Bank acquired a new position in Warner Bros. Discovery in the fourth quarter valued at $198,916,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Company Profile

(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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