Barrington Research Reaffirms “Outperform” Rating for Warner Bros. Discovery (NASDAQ:WBD)

Barrington Research restated their outperform rating on shares of Warner Bros. Discovery (NASDAQ:WBD) in a report released on Thursday,Benzinga reports. They currently have a $16.00 target price on the stock.

WBD has been the subject of several other research reports. JPMorgan Chase & Co. raised their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Benchmark reissued a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday. Macquarie lifted their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Finally, Rosenblatt Securities lifted their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and a consensus price target of $11.76.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $11.00 on Thursday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a fifty day moving average of $10.31 and a two-hundred day moving average of $9.20. The company has a market capitalization of $26.98 billion, a price-to-earnings ratio of -2.40, a PEG ratio of 8.64 and a beta of 1.49. Warner Bros. Discovery has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.30). The company had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. On average, analysts anticipate that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the transaction, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WBD. AMF Tjanstepension AB acquired a new position in shares of Warner Bros. Discovery during the third quarter worth about $1,031,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Warner Bros. Discovery by 1.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 107,240 shares of the company’s stock worth $885,000 after purchasing an additional 1,651 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Warner Bros. Discovery by 629.4% during the third quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock worth $1,561,000 after purchasing an additional 163,295 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Warner Bros. Discovery by 55.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 614,390 shares of the company’s stock worth $5,079,000 after purchasing an additional 218,270 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of Warner Bros. Discovery by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 260,070 shares of the company’s stock worth $2,145,000 after acquiring an additional 17,590 shares in the last quarter. Institutional investors and hedge funds 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.