Benchmark Reiterates "Buy" Rating for Warner Bros. Discovery (NASDAQ:WBD)

Benchmark reiterated their buy rating on shares of Warner Bros. Discovery (NASDAQ:WBD - Free Report) in a report released on Monday morning,Benzinga reports. They currently have a $18.00 price objective on the stock.

WBD has been the subject of several other reports. Guggenheim reiterated a "buy" rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Wells Fargo & Company boosted their price objective on shares of Warner Bros. Discovery from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Argus upgraded shares of Warner Bros. Discovery to a "hold" rating in a research note on Tuesday, May 27th. KeyCorp decreased their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, Raymond James Financial dropped their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. Twelve investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Warner Bros. Discovery currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.41.

Warner Bros. Discovery Trading Up 2.4%

Shares of Warner Bros. Discovery stock traded up $0.28 during trading on Monday, hitting $12.01. The stock had a trading volume of 61,450,910 shares, compared to its average volume of 42,335,059. The stock has a market cap of $29.48 billion, a PE ratio of -2.73 and a beta of 1.54. Warner Bros. Discovery has a 12 month low of $6.64 and a 12 month high of $12.70. The firm's fifty day simple moving average is $10.07 and its 200-day simple moving average is $9.96. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.84 and a quick ratio of 0.84.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its earnings results 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). Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The business had revenue of $8.98 billion for the quarter, compared to analysts' expectations of $9.66 billion. During the same quarter last year, the firm earned ($0.40) EPS. The firm's quarterly revenue was down 9.8% on a year-over-year basis. As a group, sell-side analysts expect that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

Institutional Trading of Warner Bros. Discovery

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Colonial Trust Advisors raised its stake in 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 buying an additional 996 shares during the last quarter. WPG Advisers LLC acquired a new position in shares of Warner Bros. Discovery during the first quarter valued at about $26,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Warner Bros. Discovery in the 1st quarter valued at approximately $27,000. Graney & King LLC purchased a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $28,000. Finally, North Capital Inc. purchased a new stake in Warner Bros. Discovery during the 1st quarter worth approximately $28,000. Hedge funds and other 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.