Wolfe Research Downgrades Warner Bros. Discovery (NASDAQ:WBD) to Underperform

Wolfe Research lowered shares of Warner Bros. Discovery (NASDAQ:WBD) from a peer perform rating to an underperform rating in a report issued on Tuesday, Marketbeat reports. They currently have $7.00 price objective on the stock.

A number of other research firms have also weighed in on WBD. Barrington Research reduced their price objective on Warner Bros. Discovery from $18.00 to $16.00 and set an outperform rating for the company in a research report on Monday, February 26th. JPMorgan Chase & Co. lowered their target price on Warner Bros. Discovery from $13.00 to $10.00 and set a neutral rating on the stock in a report on Monday, February 26th. Redburn Atlantic cut shares of Warner Bros. Discovery from a buy rating to a neutral rating and set a $11.00 price target on the stock. in a research note on Thursday, January 11th. Citigroup lowered their price objective on Warner Bros. Discovery from $16.00 to $14.00 and set a buy rating on the stock in a research report on Thursday, February 29th. Finally, Morgan Stanley cut their price objective on 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. 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’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $13.83.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $8.11 on Tuesday. The stock has a 50 day moving average price of $8.65 and a two-hundred day moving average price of $9.99. Warner Bros. Discovery has a fifty-two week low of $8.02 and a fifty-two 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 has a market capitalization of $19.79 billion, a P/E ratio of -6.34 and a beta of 1.51.

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

Hedge Funds Weigh In On Warner Bros. Discovery

Large investors have recently made changes to their positions in the company. Fortis Group Advisors LLC bought a new position in Warner Bros. Discovery in the 3rd quarter valued at $25,000. Peoples Bank KS bought a new stake in Warner Bros. Discovery during the 3rd quarter valued at about $27,000. Pacifica Partners Inc. lifted its holdings in Warner Bros. Discovery by 118.2% during the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after buying an additional 1,345 shares in the last quarter. Milestone Investment Advisors LLC purchased a new stake in shares of Warner Bros. Discovery in the third quarter valued at approximately $28,000. Finally, Headinvest LLC purchased a new stake in shares of Warner Bros. Discovery in the 3rd quarter worth $28,000. 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.