Warner Bros. Discovery (NASDAQ:WBD) Stock Rating Reaffirmed by Needham & Company LLC

Warner Bros. Discovery (NASDAQ:WBD)‘s stock had its “hold” rating reaffirmed by equities researchers at Needham & Company LLC in a report released on Friday, Benzinga reports.

Other equities research analysts have also issued research reports about the company. 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. Morgan Stanley cut their price target on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, February 26th. Wells Fargo & Company downgraded shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $16.00 to $12.00 in a research report on Monday, January 29th. Benchmark reiterated a “buy” rating and set a $20.00 target price on shares of Warner Bros. Discovery in a research report on Monday, March 4th. Finally, Redburn Atlantic cut shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.79.

Warner Bros. Discovery Stock Up 3.1 %

Shares of NASDAQ WBD opened at $8.04 on Friday. Warner Bros. Discovery has a 52-week low of $7.34 and a 52-week high of $14.76. 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 company’s 50 day moving average price is $8.39 and its 200-day moving average price is $9.80. The company has a market capitalization of $19.62 billion, a P/E ratio of -6.28 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share (EPS) 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 in the previous year, the firm earned $0.42 EPS. Warner Bros. Discovery’s quarterly revenue was down 6.6% on a year-over-year basis. Equities analysts forecast that Warner Bros. Discovery will post -0.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of WBD. Fortis Group Advisors LLC bought a new stake in Warner Bros. Discovery in the 3rd quarter worth about $25,000. Peoples Bank KS purchased a new position in shares of Warner Bros. Discovery in the 3rd quarter worth approximately $27,000. Pacifica Partners Inc. grew its holdings in shares of Warner Bros. Discovery by 118.2% in the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after acquiring an additional 1,345 shares in the last quarter. Milestone Investment Advisors LLC purchased a new stake in shares of Warner Bros. Discovery during the third quarter valued at approximately $28,000. Finally, Headinvest LLC bought a new stake in Warner Bros. Discovery during the third quarter worth $28,000. 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.