Warner Bros. Discovery (NASDAQ:WBD) Rating Reiterated by Barrington Research

Barrington Research reissued their outperform rating on shares of Warner Bros. Discovery (NASDAQ:WBD - Free Report) in a research note released on Thursday, Benzinga reports. They currently have a $18.00 price target on the stock.

WBD has been the subject of several other reports. Citigroup lowered their price objective on Warner Bros. Discovery from $16.00 to $14.00 and set a buy rating for the company in a research note on Thursday, February 29th. Needham & Company LLC reiterated a hold rating on shares of Warner Bros. Discovery in a research note on Friday. Rosenblatt Securities raised shares of Warner Bros. Discovery from a sell rating to a neutral rating and raised their price target for the company from $7.00 to $10.00 in a research report on Thursday, March 21st. Wolfe Research lowered shares of Warner Bros. Discovery from a peer perform rating to an underperform rating and set a $7.00 price objective for the company. in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a neutral rating on the stock in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Warner Bros. Discovery presently has an average rating of Moderate Buy and a consensus target price of $13.32.

Warner Bros. Discovery Stock Up 1.4 %

NASDAQ:WBD traded up $0.11 during mid-day trading on Thursday, hitting $8.15. 35,480,676 shares of the company's stock were exchanged, compared to its average volume of 30,253,300. Warner Bros. Discovery has a fifty-two week low of $7.34 and a fifty-two week high of $14.76. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90. The company has a 50 day simple moving average of $8.38 and a 200-day simple moving average of $9.79.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its 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 during the quarter, compared to analyst estimates of $10.22 billion. Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The business's quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share. As a group, analysts expect that Warner Bros. Discovery will post -0.35 earnings per share for the current year.

Institutional Investors Weigh In On Warner Bros. Discovery

Several hedge funds and other institutional investors have recently modified their holdings of the stock. TIAA Trust National Association boosted its stake in Warner Bros. Discovery by 6.7% during the first quarter. TIAA Trust National Association now owns 27,735 shares of the company's stock valued at $242,000 after buying an additional 1,753 shares during the period. Intech Investment Management LLC boosted its position in shares of Warner Bros. Discovery by 4,677.3% during the 1st quarter. Intech Investment Management LLC now owns 962,155 shares of the company's stock valued at $8,400,000 after acquiring an additional 942,015 shares during the last quarter. Poehling Capital Management INC. grew its holdings in shares of Warner Bros. Discovery by 11.7% during the first quarter. Poehling Capital Management INC. now owns 647,680 shares of the company's stock worth $5,654,000 after purchasing an additional 67,819 shares in the last quarter. M&G Plc bought a new position in shares of Warner Bros. Discovery in the first quarter worth approximately $5,259,000. Finally, Tocqueville Asset Management L.P. lifted its position in Warner Bros. Discovery by 13.7% during the first quarter. Tocqueville Asset Management L.P. now owns 1,926,711 shares of the company's stock valued at $16,820,000 after purchasing an additional 231,491 shares during the last quarter. 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.