Warner Bros. Discovery (NASDAQ:WBD) Shares Up 3.8% - Here's Why

Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) shares were up 3.8% on Wednesday . The company traded as high as $9.93 and last traded at $9.92. Approximately 22,891,257 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 33,253,343 shares. The stock had previously closed at $9.55.

Wall Street Analyst Weigh In

WBD has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Barclays upped their target price on Warner Bros. Discovery from $7.00 to $9.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Raymond James dropped their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, April 4th. Citigroup decreased their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Barrington Research reissued an "outperform" rating and set a $16.00 target price on shares of Warner Bros. Discovery in a report on Tuesday, May 13th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $12.17.

Warner Bros. Discovery Stock Performance

The company has a market capitalization of $24.55 billion, a price-to-earnings ratio of -2.18, a P/E/G ratio of 8.64 and a beta of 1.46. The company has a 50 day moving average price of $8.94 and a 200 day moving average price of $9.94. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $8.98 billion during the quarter, compared to analyst estimates of $9.66 billion. During the same period last year, the business posted ($0.40) EPS. The company's revenue was down 9.8% on a year-over-year basis. Equities research 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

Institutional investors have recently bought and sold shares of the stock. Colonial Trust Advisors grew its holdings in shares of Warner Bros. Discovery by 71.8% in 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. WPG Advisers LLC bought a new position in shares of Warner Bros. Discovery during the 1st quarter valued at approximately $26,000. Stonebridge Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $26,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth approximately $27,000. Finally, SRS Capital Advisors Inc. lifted its stake in Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock valued at $27,000 after purchasing an additional 1,940 shares during 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.