Warner Bros. Discovery (NASDAQ:WBD) Rating Lowered to Neutral at Macquarie

Macquarie cut shares of Warner Bros. Discovery (NASDAQ:WBD) from an outperform rating to a neutral rating in a research report report published on Thursday morning, Marketbeat Ratings reports. They currently have $9.00 price objective on the stock.

Several other brokerages have also commented on WBD. Evercore ISI cut their price objective on Warner Bros. Discovery from $12.00 to $10.00 and set an outperform rating for the company in a report on Tuesday, July 16th. Wolfe Research lowered Warner Bros. Discovery from a peer perform rating to an underperform rating and set a $7.00 price objective for the company. in a report on Tuesday, April 23rd. Barrington Research reissued an outperform rating and set a $12.00 price objective on shares of Warner Bros. Discovery in a report on Tuesday, July 23rd. Benchmark reaffirmed a buy rating and issued a $20.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, July 17th. Finally, The Goldman Sachs Group assumed coverage on Warner Bros. Discovery in a research note on Tuesday, June 25th. They issued a neutral rating and a $8.50 target price for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $11.87.

Warner Bros. Discovery Stock Up 4.0 %

WBD stock opened at $8.31 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $20.36 billion, a PE ratio of -6.70 and a beta of 1.49. Warner Bros. Discovery has a twelve month low of $6.94 and a twelve month high of $14.76. The stock has a 50-day simple moving average of $7.73 and a two-hundred day simple moving average of $8.58.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.16). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The business had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.22 billion. During the same period in the previous year, the firm posted $0.18 EPS. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. On average, equities analysts predict that Warner Bros. Discovery will post -0.41 EPS for the current fiscal year.

Institutional Trading of Warner Bros. Discovery

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC lifted its position in Warner Bros. Discovery by 53.8% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 25,451 shares of the company’s stock valued at $189,000 after purchasing an additional 8,905 shares during the last quarter. State of Michigan Retirement System raised its holdings in shares of Warner Bros. Discovery by 3.0% during the second quarter. State of Michigan Retirement System now owns 782,025 shares of the company’s stock valued at $5,818,000 after acquiring an additional 23,100 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Warner Bros. Discovery by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock valued at $105,595,000 after acquiring an additional 719,869 shares in the last quarter. IMA Advisory Services Inc. bought a new position in shares of Warner Bros. Discovery during the second quarter valued at approximately $804,000. Finally, Harbor Island Capital LLC raised its holdings in shares of Warner Bros. Discovery by 54.5% during the second quarter. Harbor Island Capital LLC now owns 1,068,338 shares of the company’s stock valued at $7,948,000 after acquiring an additional 377,030 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.