Warner Bros. Discovery (NASDAQ:WBD) Earns Outperform Rating from Barrington Research

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Barrington Research in a report released on Thursday,Benzinga reports. They currently have a $12.00 price objective on the stock. Barrington Research's price target would indicate a potential upside of 29.45% from the company's previous close.

WBD has been the topic of a number of other reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Morgan Stanley decreased their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an "equal weight" rating for the company in a research note on Monday, July 29th. Barclays cut their price objective on Warner Bros. Discovery from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 8th. Macquarie decreased their price objective on Warner Bros. Discovery from $9.00 to $8.00 and set a "neutral" rating for the company in a report on Monday, August 12th. Finally, TD Cowen dropped their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery has an average rating of "Hold" and a consensus price target of $10.66.

Warner Bros. Discovery Price Performance

Shares of WBD traded up $0.89 during trading hours on Thursday, reaching $9.27. 55,679,683 shares of the company's stock traded hands, compared to its average volume of 28,988,617. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. The firm's 50 day simple moving average is $7.84 and its 200-day simple moving average is $7.82. The stock has a market cap of $22.73 billion, a PE ratio of -1.94 and a beta of 1.48. Warner Bros. Discovery has a 12 month low of $6.64 and a 12 month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($3.89). The firm had revenue of $9.71 billion for the quarter, compared to analysts' expectations of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The business's quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.51) earnings per share. Equities analysts expect that Warner Bros. Discovery will post -4.51 EPS for the current year.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of hedge funds have recently bought and sold shares of the business. Family Firm Inc. purchased a new position in shares of Warner Bros. Discovery in the 2nd quarter worth approximately $26,000. Crewe Advisors LLC bought a new position in Warner Bros. Discovery during the 1st quarter valued at about $27,000. OFI Invest Asset Management raised its position in Warner Bros. Discovery by 45.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company's stock worth $27,000 after purchasing an additional 1,221 shares during the period. Transcendent Capital Group LLC lifted its stake in shares of Warner Bros. Discovery by 665.4% during the 1st quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company's stock worth $35,000 after acquiring an additional 3,480 shares during the last quarter. Finally, LRI Investments LLC bought a new position in Warner Bros. Discovery in the 1st quarter valued at $39,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.