Warner Bros. Discovery (NASDAQ:WBD) Given Hold Rating at Needham & Company LLC

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report)'s stock had its "hold" rating reiterated by investment analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports.

WBD has been the topic of several other research reports. Rosenblatt Securities reiterated a "neutral" rating and issued a $13.00 price target on shares of Warner Bros. Discovery in a report on Friday, March 7th. Wells Fargo & Company lifted their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Citigroup decreased their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Benchmark reaffirmed a "buy" rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Finally, Barclays increased their target price on Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of "Moderate Buy" and an average target price of $12.17.

Warner Bros. Discovery Trading Up 5.0%

Warner Bros. Discovery stock traded up $0.48 during trading hours on Tuesday, reaching $10.01. The stock had a trading volume of 71,394,241 shares, compared to its average volume of 34,367,763. The stock has a market cap of $24.57 billion, a PE ratio of -2.19, a PEG ratio of 8.64 and a beta of 1.51. The company has a fifty day simple moving average of $8.84 and a 200-day simple moving average of $9.94. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery has a 52 week low of $6.64 and a 52 week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (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 business had revenue of $8.98 billion for the quarter, compared to analysts' expectations of $9.66 billion. During the same quarter in the prior year, the firm earned ($0.40) EPS. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. Analysts forecast that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of hedge funds have recently bought and sold shares of the business. Strs Ohio bought a new stake in shares of Warner Bros. Discovery in the first quarter worth approximately $13,670,000. Geneos Wealth Management Inc. boosted its holdings in Warner Bros. Discovery by 23.9% in the first quarter. Geneos Wealth Management Inc. now owns 14,090 shares of the company's stock worth $151,000 after purchasing an additional 2,721 shares during the last quarter. Focus Partners Wealth grew its position in Warner Bros. Discovery by 91.6% in the 1st quarter. Focus Partners Wealth now owns 116,821 shares of the company's stock worth $1,254,000 after purchasing an additional 55,837 shares during the period. Plato Investment Management Ltd purchased a new stake in Warner Bros. Discovery during the 1st quarter valued at $125,000. Finally, SCS Capital Management LLC bought a new position in shares of Warner Bros. Discovery during the 1st quarter valued at $124,000. 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.