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 report published on Tuesday,Benzinga reports.

A number of other brokerages also recently issued reports on WBD. Citigroup decreased their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Argus upgraded Warner Bros. Discovery to a “hold” rating in a research report on Tuesday, May 27th. Barclays upped their price objective on Warner Bros. Discovery from $7.00 to $9.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. Benchmark restated a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Finally, KeyCorp decreased their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.17.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $10.16 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $24.94 billion, a P/E ratio of -2.22, a P/E/G ratio of 8.64 and a beta of 1.51. Warner Bros. Discovery has a 12 month low of $6.64 and a 12 month high of $12.70. The business’s 50-day moving average is $8.95 and its 200 day moving average is $9.94.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The firm had revenue of $8.98 billion during the quarter, compared to analysts’ expectations of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Warner Bros. Discovery’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. On average, equities research analysts forecast that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Colonial Trust Advisors boosted its position in shares of Warner Bros. Discovery by 71.8% in the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after purchasing an additional 996 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Warner Bros. Discovery in the 4th quarter valued at about $26,000. WPG Advisers LLC acquired a new position in shares of Warner Bros. Discovery in the 1st quarter valued at about $26,000. SRS Capital Advisors Inc. raised its holdings in Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after purchasing an additional 1,940 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Warner Bros. Discovery during the 1st quarter worth approximately $27,000. 59.95% of the stock is currently 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.