Warner Bros. Discovery (NASDAQ:WBD) Trading 4.7% Higher

Warner Bros. Discovery, Inc. (NASDAQ:WBD) traded up 4.7% during trading on Friday . The company traded as high as $8.03 and last traded at $8.02. 3,754,549 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 29,222,098 shares. The stock had previously closed at $7.66.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Rosenblatt Securities restated a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a report on Friday. JPMorgan Chase & Co. dropped their target price on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Morgan Stanley dropped their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Moffett Nathanson dropped their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.93.

Warner Bros. Discovery Stock Up 10.4 %

The stock has a market capitalization of $20.74 billion, a PE ratio of -6.81 and a beta of 1.48. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. The company’s 50-day moving average is $7.73 and its 200 day moving average is $7.98.

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

Hedge Funds Weigh In On Warner Bros. Discovery

Institutional investors have recently bought and sold shares of the business. Family Firm Inc. acquired a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $26,000. Crewe Advisors LLC acquired a new stake in shares of Warner Bros. Discovery during the 1st quarter worth approximately $27,000. OFI Invest Asset Management grew its stake in shares of Warner Bros. Discovery by 45.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after purchasing an additional 1,221 shares during the period. First Financial Corp IN grew its stake in shares of Warner Bros. Discovery by 577.4% during the 1st quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after purchasing an additional 2,887 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $33,000. 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.