Warner Bros. Discovery (NASDAQ:WBD) Sets New 1-Year Low at $7.39

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $7.39 and last traded at $7.54, with a volume of 25341027 shares. The stock had previously closed at $8.15.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WBD. Citigroup lowered their price objective on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Morgan Stanley cut 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. Rosenblatt Securities upgraded shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and boosted their price target for the company from $7.00 to $10.00 in a report on Thursday, March 21st. Macquarie dropped their price objective on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, January 22nd. Finally, Wells Fargo & Company lowered shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $16.00 to $12.00 in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Moderate Buy” and an average target price of $13.83.

Warner Bros. Discovery Trading Down 8.7 %

The company has a market cap of $18.15 billion, a price-to-earnings ratio of -5.91 and a beta of 1.51. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93. The business’s 50 day moving average price is $8.59 and its 200-day moving average price is $9.95.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data 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). The company had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The company’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. On average, research analysts forecast that Warner Bros. Discovery, Inc. will post -0.33 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $198,916,000. Boston Partners raised its holdings in Warner Bros. Discovery by 43.0% during the 3rd quarter. Boston Partners now owns 14,225,819 shares of the company’s stock worth $153,713,000 after buying an additional 4,275,994 shares during the period. Invesco Ltd. raised its holdings in Warner Bros. Discovery by 16.6% during the 3rd quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock worth $306,085,000 after buying an additional 4,016,888 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Warner Bros. Discovery by 17.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock worth $290,579,000 after buying an additional 3,710,343 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Warner Bros. Discovery by 12.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company’s stock worth $237,007,000 after buying an additional 2,356,665 shares during the period. Institutional investors 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.