Warner Bros. Discovery (NASDAQ:WBD) Rating Lowered to Neutral at Macquarie

Macquarie lowered shares of Warner Bros. Discovery (NASDAQ:WBD) from an outperform rating to a neutral rating in a research note released on Thursday morning, Marketbeat.com reports. They currently have $9.00 target price on the stock.

WBD has been the subject of a number of other reports. Sanford C. Bernstein decreased their price objective on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an outperform rating for the company in a report on Friday, May 10th. Needham & Company LLC restated a hold rating on shares of Warner Bros. Discovery in a report on Friday, May 10th. Wolfe Research lowered shares of Warner Bros. Discovery from a peer perform rating to an underperform rating and set a $7.00 price objective for the company. in a report on Tuesday, April 23rd. Evercore ISI decreased their price objective on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an outperform rating for the company in a report on Tuesday, July 16th. Finally, KeyCorp upgraded shares of Warner Bros. Discovery from a sector weight rating to an overweight rating and set a $11.00 price objective for the company in a report on Friday, May 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of Hold and an average target price of $11.87.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $8.31 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. The business’s 50 day moving average price is $7.73 and its 200-day moving average price is $8.54. Warner Bros. Discovery has a 52 week low of $6.94 and a 52 week high of $14.76. The stock has a market cap of $20.36 billion, a P/E ratio of -6.70 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $10.22 billion. During the same period in the prior year, the firm earned $0.18 earnings per share. The business’s revenue for the quarter was down 6.9% compared to the same quarter last year. Equities research analysts anticipate that Warner Bros. Discovery will post -0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Warner Bros. Discovery

Hedge funds have recently modified their holdings of the business. Bridgeworth LLC boosted its holdings in Warner Bros. Discovery by 7.4% in the 4th quarter. Bridgeworth LLC now owns 13,845 shares of the company’s stock worth $158,000 after buying an additional 952 shares during the period. Blue Trust Inc. boosted its holdings in Warner Bros. Discovery by 20.8% in the 4th quarter. Blue Trust Inc. now owns 6,254 shares of the company’s stock worth $68,000 after buying an additional 1,076 shares during the period. FinTrust Capital Advisors LLC boosted its holdings in Warner Bros. Discovery by 56.3% in the 4th quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after buying an additional 1,105 shares during the period. Personal CFO Solutions LLC boosted its holdings in Warner Bros. Discovery by 4.6% in the 4th quarter. Personal CFO Solutions LLC now owns 25,126 shares of the company’s stock worth $286,000 after buying an additional 1,108 shares during the period. Finally, Mraz Amerine & Associates Inc. boosted its holdings in Warner Bros. Discovery by 0.6% in the 4th quarter. Mraz Amerine & Associates Inc. now owns 183,745 shares of the company’s stock worth $2,091,000 after buying an additional 1,124 shares during the period. Institutional investors 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.