Warner Bros. Discovery (NASDAQ:WBD) Receives Buy Rating from Benchmark

Warner Bros. Discovery (NASDAQ:WBD)‘s stock had its “buy” rating reissued by investment analysts at Benchmark in a research note issued to investors on Friday, Benzinga reports. They currently have a $18.00 price objective on the stock. Benchmark’s target price indicates a potential upside of 134.99% from the company’s current price.

Several other research analysts have also issued reports on the stock. Rosenblatt Securities restated a “neutral” rating and set a $9.00 price target on shares of Warner Bros. Discovery in a report on Friday. TD Cowen lowered 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. Evercore ISI dropped their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Macquarie decreased 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. Finally, Wells Fargo & Company reduced their price objective on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Hold” and an average price target of $10.93.

Warner Bros. Discovery Stock Up 10.4 %

NASDAQ:WBD opened at $7.66 on Friday. Warner Bros. Discovery has a one year low of $6.64 and a one year 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. The company has a market cap of $18.78 billion, a PE ratio of -6.18 and a beta of 1.48. The firm’s 50 day simple moving average is $7.72 and its 200 day simple moving average is $7.99.

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

Institutional Investors Weigh In On Warner Bros. Discovery

A number of institutional investors and hedge funds have recently bought and sold shares of WBD. Sanctuary Advisors LLC purchased a new stake in Warner Bros. Discovery in the 2nd quarter valued at about $1,297,000. Cetera Investment Advisers increased its position in shares of Warner Bros. Discovery by 8.3% during the second quarter. Cetera Investment Advisers now owns 540,002 shares of the company’s stock valued at $4,018,000 after acquiring an additional 41,457 shares during the last quarter. Quarry LP increased its position in shares of Warner Bros. Discovery by 2,185.1% during the second quarter. Quarry LP now owns 6,307 shares of the company’s stock valued at $47,000 after acquiring an additional 6,031 shares during the last quarter. William B. Walkup & Associates Inc. purchased a new position in Warner Bros. Discovery in the second quarter worth $59,000. Finally, Creative Planning grew its stake in Warner Bros. Discovery by 4.3% in the 2nd quarter. Creative Planning now owns 313,570 shares of the company’s stock valued at $2,333,000 after purchasing an additional 13,000 shares during the period. 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.