Warner Bros. Discovery (NASDAQ:WBD) Shares Gap Up Following Analyst Upgrade

Warner Bros. Discovery, Inc. (NASDAQ:WBD) gapped up prior to trading on Thursday after Rosenblatt Securities raised their price target on the stock from $9.00 to $13.00. The stock had previously closed at $10.82, but opened at $11.40. Rosenblatt Securities currently has a neutral rating on the stock. Warner Bros. Discovery shares last traded at $12.34, with a volume of 16,720,608 shares trading hands.

WBD has been the subject of a number of other research reports. KeyCorp raised their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday. Bank of America reaffirmed a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a research report on Thursday. Barrington Research reiterated an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research note on Friday. Benchmark restated a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Finally, The Goldman Sachs Group lifted their target price on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Monday, October 7th. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.33.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Family Firm Inc. bought a new stake in Warner Bros. Discovery during the 2nd quarter worth about $26,000. OFI Invest Asset Management grew its stake in shares of Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after purchasing an additional 1,221 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Warner Bros. Discovery by 54.1% in the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after purchasing an additional 1,754 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in Warner Bros. Discovery in the 3rd quarter worth approximately $41,000. Finally, Brooklyn Investment Group acquired a new position in Warner Bros. Discovery during the 3rd quarter worth $51,000. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Price Performance

The stock has a 50-day simple moving average of $9.11 and a 200 day simple moving average of $8.24. The stock has a market capitalization of $29.61 billion, a P/E ratio of -2.64 and a beta of 1.52. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the company earned ($0.17) earnings per share. On average, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

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.