Warner Bros. Discovery (NASDAQ:WBD) Reaches New 52-Week High - Here's What Happened

Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $13.10 and last traded at $13.04, with a volume of 13774469 shares. The stock had previously closed at $12.85.

Analyst Ratings Changes

Several research firms have recently commented on WBD. Guggenheim restated a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Morgan Stanley cut their price target on Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. UBS Group increased their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Raymond James Financial cut their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Finally, Argus upgraded Warner Bros. Discovery to a "hold" rating in a research note on Tuesday, May 27th. Twelve analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $12.41.

Warner Bros. Discovery Trading Down 1.7%

The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99. The firm has a market cap of $32.59 billion, a P/E ratio of -3.03 and a beta of 1.54. The company's 50 day simple moving average is $10.76 and its 200-day simple moving average is $10.10.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The firm had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.40) EPS. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Institutional Trading of Warner Bros. Discovery

Institutional investors have recently added to or reduced their stakes in the company. Eastern Bank raised its stake in shares of Warner Bros. Discovery by 11.6% during the second quarter. Eastern Bank now owns 8,452 shares of the company's stock valued at $97,000 after acquiring an additional 879 shares in the last quarter. Apollon Wealth Management LLC raised its stake in shares of Warner Bros. Discovery by 2.1% during the second quarter. Apollon Wealth Management LLC now owns 45,733 shares of the company's stock valued at $524,000 after acquiring an additional 948 shares in the last quarter. Colonial Trust Advisors raised its stake in shares of Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after acquiring an additional 996 shares in the last quarter. Parkside Investments LLC raised its stake in shares of Warner Bros. Discovery by 0.3% during the second quarter. Parkside Investments LLC now owns 346,654 shares of the company's stock valued at $3,973,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Avior Wealth Management LLC raised its stake in shares of Warner Bros. Discovery by 8.8% during the second quarter. Avior Wealth Management LLC now owns 14,545 shares of the company's stock valued at $167,000 after acquiring an additional 1,176 shares in the last quarter. 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.