Warner Bros. Discovery (NASDAQ:WBD) Shares Up 5.5% – Still a Buy?

Warner Bros. Discovery, Inc. (NASDAQ:WBD) rose 5.5% on Wednesday . The stock traded as high as $10.04 and last traded at $10.02. Approximately 18,681,138 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 29,366,012 shares. The stock had previously closed at $9.50.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased 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 research report on Thursday, August 8th. The Goldman Sachs Group raised their price objective on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Monday, October 7th. Benchmark reissued a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Hold” and a consensus price target of $10.55.

Warner Bros. Discovery Trading Up 3.7 %

The firm has a market cap of $24.16 billion, a PE ratio of -2.07 and a beta of 1.48. The stock’s fifty day simple moving average is $8.20 and its two-hundred day simple moving average is $7.90. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the prior year, the firm earned ($0.17) EPS. The business’s revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Warner Bros. Discovery

Several large investors have recently modified their holdings of WBD. Family Firm Inc. acquired a new stake in Warner Bros. Discovery in the 2nd quarter worth about $26,000. Crewe Advisors LLC purchased a new stake in shares of Warner Bros. Discovery during the 1st quarter valued at about $27,000. OFI Invest Asset Management lifted its holdings in Warner Bros. Discovery by 45.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after buying an additional 1,221 shares in the last quarter. Transcendent Capital Group LLC raised its position in shares of Warner Bros. Discovery by 665.4% in the 1st quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock valued at $35,000 after purchasing an additional 3,480 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Warner Bros. Discovery in the 1st quarter valued at about $39,000. Institutional investors and hedge funds 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.