Warner Bros. Discovery’s (WBD) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Warner Bros. Discovery (NASDAQ:WBD) in a research report released on Thursday morning, Benzinga reports.

WBD has been the topic of a number of other research reports. Evercore ISI decreased their price target on Warner Bros. Discovery from $12.00 to $10.00 and set an outperform rating on the stock in a research report on Tuesday, July 16th. The Goldman Sachs Group began coverage on shares of Warner Bros. Discovery in a report on Tuesday, June 25th. They issued a neutral rating and a $8.50 target price on the stock. KeyCorp raised shares of Warner Bros. Discovery from a sector weight rating to an overweight rating and set a $11.00 price target for the company in a report on Friday, May 10th. Benchmark reissued a buy rating and issued a $20.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, July 17th. Finally, Sanford C. Bernstein cut their target price on Warner Bros. Discovery from $11.00 to $10.00 and set an outperform rating for the company in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Warner Bros. Discovery presently has a consensus rating of Hold and a consensus price target of $11.48.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock traded up $0.01 during trading on Thursday, reaching $7.03. The company’s stock had a trading volume of 40,957,016 shares, compared to its average volume of 28,787,209. Warner Bros. Discovery has a 52 week low of $6.73 and a 52 week high of $14.52. The firm has a market cap of $17.23 billion, a PE ratio of -5.66 and a beta of 1.49. The business’s 50-day moving average price is $7.76 and its 200-day moving average price is $8.42. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The business had revenue of $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. During the same quarter in the previous year, the firm posted ($0.51) earnings per share. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. Equities analysts forecast that Warner Bros. Discovery will post -0.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. FinTrust Capital Advisors LLC lifted its position in shares of Warner Bros. Discovery by 56.3% during the 4th quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock valued at $35,000 after acquiring an additional 1,105 shares during the period. Personal CFO Solutions LLC increased its stake in Warner Bros. Discovery by 4.6% in the fourth quarter. Personal CFO Solutions LLC now owns 25,126 shares of the company’s stock valued at $286,000 after purchasing an additional 1,108 shares in the last quarter. Mraz Amerine & Associates Inc. raised its holdings in shares of Warner Bros. Discovery by 0.6% during the fourth quarter. Mraz Amerine & Associates Inc. now owns 183,745 shares of the company’s stock valued at $2,091,000 after purchasing an additional 1,124 shares during the period. Holistic Financial Partners boosted its position in shares of Warner Bros. Discovery by 5.8% during the 4th quarter. Holistic Financial Partners now owns 21,235 shares of the company’s stock worth $242,000 after purchasing an additional 1,167 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its stake in shares of Warner Bros. Discovery by 3.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 37,182 shares of the company’s stock valued at $423,000 after buying an additional 1,172 shares during the period. Institutional investors own 59.95% of the company’s stock.

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.