Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) issued its quarterly earnings data on Thursday. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.79, Zacks reports. The firm had revenue of $9.81 billion during the quarter, compared to analysts' expectations of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The business's revenue was up 1.0% on a year-over-year basis. During the same period last year, the company earned ($4.07) earnings per share.
Warner Bros. Discovery Price Performance
Warner Bros. Discovery stock traded down $0.95 during midday trading on Friday, reaching $10.91. 62,146,520 shares of the stock were exchanged, compared to its average volume of 79,212,872. The company's fifty day moving average is $11.52 and its 200-day moving average is $10.33. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 1.04. The firm has a market cap of $26.78 billion, a PE ratio of 36.37 and a beta of 1.57. Warner Bros. Discovery has a 52 week low of $6.64 and a 52 week high of $13.86.
Institutional Trading of Warner Bros. Discovery
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC grew its stake in Warner Bros. Discovery by 50.5% in the 1st quarter. NewEdge Advisors LLC now owns 63,254 shares of the company's stock worth $679,000 after buying an additional 21,228 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Warner Bros. Discovery by 6.2% in the 1st quarter. Empowered Funds LLC now owns 65,082 shares of the company's stock valued at $698,000 after purchasing an additional 3,779 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of Warner Bros. Discovery by 304.9% in the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock valued at $729,000 after purchasing an additional 51,920 shares in the last quarter. Finally, Focus Partners Wealth boosted its stake in shares of Warner Bros. Discovery by 91.6% in the 1st quarter. Focus Partners Wealth now owns 116,821 shares of the company's stock valued at $1,254,000 after purchasing an additional 55,837 shares in the last quarter. Institutional investors own 59.95% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on WBD shares. Huber Research upgraded shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. UBS Group boosted their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Citigroup cut their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Barclays lifted their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Finally, Morgan Stanley lifted their price objective on shares of Warner Bros. Discovery from $10.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Twelve equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $12.81.
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About Warner Bros. Discovery
(
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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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