Warner Bros. Discovery (NASDAQ:WBD) Sets New 52-Week Low at $7.39

Warner Bros. Discovery, Inc. (NASDAQ:WBD)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $7.39 and last traded at $7.54, with a volume of 25341027 shares. The stock had previously closed at $8.15.

Wall Street Analysts Forecast Growth

Several analysts recently commented on WBD shares. Redburn Atlantic downgraded shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 target price for the company. in a report on Thursday, January 11th. Citigroup reduced their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Barclays reduced their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, February 29th. Macquarie reduced their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. Finally, Wolfe Research downgraded 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.83.

Warner Bros. Discovery Stock Up 3.5 %

The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93. The company’s 50-day simple moving average is $8.50 and its 200-day simple moving average is $9.91.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The business had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. During the same quarter last year, the company posted $0.42 earnings per share. The company’s revenue was down 6.6% compared to the same quarter last year. As a group, research analysts expect that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current year.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of institutional investors have recently modified their holdings of the company. Forum Financial Management LP lifted its stake in shares of Warner Bros. Discovery by 2.3% in the third quarter. Forum Financial Management LP now owns 42,179 shares of the company’s stock valued at $458,000 after buying an additional 948 shares in the last quarter. Bridgeworth LLC lifted its stake in shares of Warner Bros. Discovery by 7.4% in the fourth quarter. Bridgeworth LLC now owns 13,845 shares of the company’s stock valued at $158,000 after buying an additional 952 shares in the last quarter. Czech National Bank lifted its stake in shares of Warner Bros. Discovery by 0.3% in the fourth quarter. Czech National Bank now owns 388,660 shares of the company’s stock valued at $4,423,000 after buying an additional 996 shares in the last quarter. Harbour Capital Advisors LLC lifted its stake in shares of Warner Bros. Discovery by 1.8% in the fourth quarter. Harbour Capital Advisors LLC now owns 56,833 shares of the company’s stock valued at $642,000 after buying an additional 1,025 shares in the last quarter. Finally, Column Capital Advisors LLC lifted its stake in shares of Warner Bros. Discovery by 26.7% in the third quarter. Column Capital Advisors LLC now owns 5,049 shares of the company’s stock valued at $55,000 after buying an additional 1,063 shares in the last quarter. 59.95% of the stock is owned by institutional investors.

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.