Warner Bros. Discovery (NASDAQ:WBD) Earns "Hold" Rating from Needham & Company LLC

Key Points

• Warner Bros. Discovery's stock received a "hold" rating from Needham & Company LLC, with a consensus rating of "Moderate Buy" and a target price of $13.20.
• In its latest quarterly report, Warner Bros. Discovery reported an EPS of $0.63, significantly exceeding analyst estimates and showing a 1.0% increase in revenue year-over-year.
• Insider trading activity saw Director Anton J. Levy acquiring 250,000 shares worth approximately $2.73 million, indicating strong confidence in the company's prospects.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report)'s stock had its "hold" rating restated by equities researchers at Needham & Company LLC in a report released on Friday,Benzinga reports.

A number of other equities analysts have also commented on WBD. Bank of America boosted their price objective on Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Wells Fargo & Company upped their price target on Warner Bros. Discovery from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Thursday. Benchmark reaffirmed a "buy" rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Raymond James Financial cut their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Finally, Citigroup cut their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.20.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $16.17 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $40.03 billion, a P/E ratio of 53.90, a P/E/G ratio of 1.67 and a beta of 1.59. The business's fifty day moving average is $12.24 and its two-hundred day moving average is $10.60. Warner Bros. Discovery has a 52 week low of $7.08 and a 52 week high of $17.24.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of ($0.16) by $0.79. The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The business's revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($4.07) earnings per share. Equities research analysts forecast that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Anton J. Levy bought 250,000 shares of the business's stock in a transaction on Monday, August 11th. The shares were purchased at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the completion of the purchase, the director owned 874,000 shares of the company's stock, valued at $9,526,600. This represents a 40.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Warner Bros. Discovery

Several hedge funds have recently added to or reduced their stakes in WBD. Brighton Jones LLC lifted its stake in Warner Bros. Discovery by 304.9% in the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock valued at $729,000 after buying an additional 51,920 shares during the period. Ameriprise Financial Inc. raised its position in shares of Warner Bros. Discovery by 4.0% during the fourth quarter. Ameriprise Financial Inc. now owns 1,140,842 shares of the company's stock worth $12,061,000 after purchasing an additional 43,682 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Warner Bros. Discovery by 33.3% during the 4th quarter. Nuveen Asset Management LLC now owns 11,799,864 shares of the company's stock valued at $124,725,000 after purchasing an additional 2,946,688 shares in the last quarter. NorthRock Partners LLC bought a new position in shares of Warner Bros. Discovery during the 4th quarter valued at about $111,000. Finally, Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Warner Bros. Discovery by 5.1% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 530,045 shares of the company's stock valued at $5,624,000 after purchasing an additional 25,687 shares in the last quarter. Institutional investors and hedge funds 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.

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