Warner Bros. Discovery (NASDAQ:WBD) Hits New 1-Year High - Should You Buy?

Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report)'s stock price hit a new 52-week high on Thursday . The stock traded as high as $12.89 and last traded at $12.64, with a volume of 12954990 shares changing hands. The stock had previously closed at $12.58.

Analyst Ratings Changes

Several equities analysts have commented on the company. KeyCorp cut their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Wells Fargo & Company increased their price target on Warner Bros. Discovery from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 2nd. Bank of America increased their price target on Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Argus upgraded Warner Bros. Discovery to a "hold" rating in a research report on Tuesday, May 27th. Finally, UBS Group increased their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Twelve investment 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 company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $12.41.

Warner Bros. Discovery Price Performance

The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $31.52 billion, a P/E ratio of -2.92 and a beta of 1.54. The business's fifty day moving average price is $10.37 and its 200-day moving average price is $10.02.

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

Institutional Investors Weigh In On Warner Bros. Discovery

Several hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $362,210,000. Contrarius Group Holdings Ltd bought a new position in shares of Warner Bros. Discovery during the fourth quarter worth $168,930,000. Independent Franchise Partners LLP bought a new position in shares of Warner Bros. Discovery during the first quarter worth $140,224,000. FMR LLC boosted its position in shares of Warner Bros. Discovery by 478.5% during the fourth quarter. FMR LLC now owns 14,278,600 shares of the company's stock worth $150,925,000 after acquiring an additional 11,810,191 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Warner Bros. Discovery during the first quarter worth $96,971,000. Institutional investors 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.