Warner Bros. Discovery (NASDAQ:WBD) Receives “Neutral” Rating from Rosenblatt Securities

Rosenblatt Securities restated their neutral rating on shares of Warner Bros. Discovery (NASDAQ:WBD) in a research report report published on Friday, Benzinga reports. Rosenblatt Securities currently has a $9.00 price objective on the stock.

A number of other research analysts have also recently issued reports on WBD. TD Cowen cut their target price 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, August 8th. Wells Fargo & Company reduced their price objective on Warner Bros. Discovery from $9.00 to $7.00 and set an equal weight rating on the stock in a research note on Thursday, August 8th. Macquarie lowered their target price on Warner Bros. Discovery from $9.00 to $8.00 and set a neutral rating for the company in a research note on Monday, August 12th. Barrington Research reiterated an outperform rating and set a $12.00 price target on shares of Warner Bros. Discovery in a research report on Tuesday, July 23rd. Finally, Benchmark decreased their price objective on shares of Warner Bros. Discovery from $20.00 to $18.00 and set a buy rating on the stock in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of Hold and an average target price of $10.93.

Warner Bros. Discovery Trading Up 0.8 %

Shares of Warner Bros. Discovery stock opened at $8.56 on Friday. The company’s fifty day moving average price is $7.78 and its two-hundred day moving average price is $7.97. The firm has a market capitalization of $20.97 billion, a PE ratio of -6.90 and a beta of 1.48. Warner Bros. Discovery has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The company had revenue of $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. Warner Bros. Discovery’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.51) EPS. On average, analysts expect that Warner Bros. Discovery will post -4.17 EPS for the current year.

Hedge Funds Weigh In On Warner Bros. Discovery

Hedge funds have recently added to or reduced their stakes in the stock. Family Firm Inc. acquired a new stake in Warner Bros. Discovery during the 2nd quarter worth $26,000. Crewe Advisors LLC bought a new position in shares of Warner Bros. Discovery during the 1st quarter valued at about $27,000. OFI Invest Asset Management grew its position in shares of Warner Bros. Discovery by 45.9% in the 2nd 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. First Financial Corp IN increased its stake in Warner Bros. Discovery by 577.4% during the 1st quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after purchasing an additional 2,887 shares in the last quarter. Finally, University of Texas Texas AM Investment Managment Co. acquired a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $33,000. 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.