Benchmark Reaffirms “Buy” Rating for Warner Bros. Discovery (NASDAQ:WBD)

Benchmark reiterated their buy rating on shares of Warner Bros. Discovery (NASDAQ:WBDFree Report) in a research report sent to investors on Monday morning, Benzinga reports. Benchmark currently has a $20.00 target price on the stock.

A number of other research firms also recently weighed in on WBD. Rosenblatt Securities upgraded Warner Bros. Discovery from a sell rating to a neutral rating and boosted their target price for the stock from $7.00 to $10.00 in a research report on Thursday, March 21st. Sanford C. Bernstein lowered their price objective on Warner Bros. Discovery from $11.00 to $10.00 and set an outperform rating for the company in a research report on Friday, May 10th. JPMorgan Chase & Co. lowered their price objective on Warner Bros. Discovery from $13.00 to $10.00 and set a neutral rating for the company in a research report on Monday, February 26th. KeyCorp raised Warner Bros. Discovery from a sector weight rating to an overweight rating and set a $11.00 target price on the stock in a research note on Friday, May 10th. Finally, Barrington Research reissued an outperform rating and set a $15.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $13.16.

Read Our Latest Research Report on Warner Bros. Discovery

Warner Bros. Discovery Trading Down 2.4 %

Shares of WBD opened at $6.99 on Monday. The business has a 50-day moving average of $8.01 and a 200 day moving average of $9.29. Warner Bros. Discovery has a fifty-two week low of $6.96 and a fifty-two week high of $14.76. The firm has a market cap of $17.13 billion, a P/E ratio of -5.64 and a beta of 1.53. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82.

Warner Bros. Discovery (NASDAQ:WBDGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.16). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The firm had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $10.22 billion. During the same period last year, the business posted $0.18 EPS. The company’s revenue was down 6.9% compared to the same quarter last year. As a group, research analysts forecast that Warner Bros. Discovery will post -0.38 EPS for the current year.

Institutional Trading of Warner Bros. Discovery

Several institutional investors have recently made changes to their positions in WBD. Fortis Group Advisors LLC bought a new stake in Warner Bros. Discovery in the 3rd quarter worth approximately $25,000. Pacifica Partners Inc. lifted its stake in shares of Warner Bros. Discovery by 118.2% during the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after acquiring an additional 1,345 shares during the last quarter. Headinvest LLC bought a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth approximately $28,000. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $33,000. Finally, FinTrust Capital Advisors LLC lifted its stake in shares of Warner Bros. Discovery by 56.3% during the 4th quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after acquiring an additional 1,105 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

About Warner Bros. Discovery

(Get Free Report)

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.

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Analyst Recommendations for Warner Bros. Discovery (NASDAQ:WBD)

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