Warner Bros. Discovery (NASDAQ:WBD) Cut to “Underperform” at Wolfe Research

Warner Bros. Discovery (NASDAQ:WBD) was downgraded by equities research analysts at Wolfe Research from a “peer perform” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. They currently have a $7.00 price target on the stock. Wolfe Research’s price objective indicates a potential downside of 17.36% from the stock’s previous close.

A number of other research firms have also recently commented on WBD. Wells Fargo & Company cut Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $16.00 to $12.00 in a research note on Monday, January 29th. Morgan Stanley lowered their target price on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Citigroup cut their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Barclays lowered their price objective 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 Thursday, February 29th. Finally, Macquarie cut their target price on Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.83.

Warner Bros. Discovery Stock Up 0.8 %

Warner Bros. Discovery stock opened at $8.47 on Tuesday. Warner Bros. Discovery has a twelve month low of $8.02 and a twelve month high of $14.76. The business has a fifty day moving average of $8.77 and a two-hundred day moving average of $10.04. The firm has a market cap of $20.66 billion, a P/E ratio of -6.62 and a beta of 1.51. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The firm had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. During the same quarter last year, the business earned $0.42 earnings per share. Warner Bros. Discovery’s revenue was down 6.6% on a year-over-year basis. On average, analysts forecast that Warner Bros. Discovery will post -0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Warner Bros. Discovery

Several hedge funds have recently modified their holdings of the company. AE Wealth Management LLC raised its position in Warner Bros. Discovery by 1.3% during the third quarter. AE Wealth Management LLC now owns 105,151 shares of the company’s stock worth $1,142,000 after acquiring an additional 1,326 shares during the period. IFP Advisors Inc raised its position in shares of Warner Bros. Discovery by 8.9% during the 3rd quarter. IFP Advisors Inc now owns 32,597 shares of the company’s stock worth $354,000 after purchasing an additional 2,651 shares during the last quarter. RFG Advisory LLC purchased a new position in Warner Bros. Discovery in the 3rd quarter valued at about $109,000. Park Place Capital Corp lifted its stake in Warner Bros. Discovery by 33.4% in the 3rd quarter. Park Place Capital Corp now owns 3,677 shares of the company’s stock valued at $40,000 after buying an additional 921 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in Warner Bros. Discovery in the 3rd quarter worth about $83,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

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.