Warner Bros. Discovery (NASDAQ:WBD) Upgraded to Peer Perform at Wolfe Research

Wolfe Research upgraded shares of Warner Bros. Discovery (NASDAQ:WBD - Free Report) from an underperform rating to a peer perform rating in a research note published on Monday morning, Marketbeat reports.

Several other research firms also recently weighed in on WBD. Barrington Research reissued an "outperform" rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a report on Thursday. 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. Morgan Stanley decreased their target price 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. Moffett Nathanson dropped their price target on Warner Bros. Discovery from $10.00 to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. Finally, Raymond James lifted their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Friday. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $10.55.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock traded up $0.11 during midday trading on Monday, reaching $9.29. The company's stock had a trading volume of 25,959,207 shares, compared to its average volume of 29,159,992. Warner Bros. Discovery has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The business has a 50-day simple moving average of $7.90 and a 200-day simple moving average of $7.83.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.12. 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 $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same period last year, the firm posted ($0.17) EPS. The company's revenue was down 3.6% on a year-over-year basis. On average, equities analysts predict that Warner Bros. Discovery will post -4.55 EPS for the current year.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Family Firm Inc. acquired a new position in shares of Warner Bros. Discovery in the second quarter valued at approximately $26,000. Crewe Advisors LLC acquired a new stake in shares of Warner Bros. Discovery during the first quarter worth $27,000. OFI Invest Asset Management grew its position in shares of Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company's stock valued at $27,000 after purchasing an additional 1,221 shares during the period. Transcendent Capital Group LLC increased its stake in Warner Bros. Discovery by 665.4% in the first quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company's stock valued at $35,000 after purchasing an additional 3,480 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in Warner Bros. Discovery in the 1st quarter worth about $39,000. Institutional investors and hedge funds own 59.95% of the company's stock.

About Warner Bros. Discovery

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.