Warner Bros. Discovery (NASDAQ:WBD) Given “Buy” Rating at Benchmark

Benchmark reiterated their buy rating on shares of Warner Bros. Discovery (NASDAQ:WBD) in a research note published on Wednesday morning, Benzinga reports. Benchmark currently has a $20.00 target price on the stock.

Several other brokerages also recently issued reports on WBD. KeyCorp upgraded shares of Warner Bros. Discovery from a sector weight rating to an overweight rating and set a $11.00 price objective on the stock in a research note on Friday, May 10th. Barrington Research reiterated an outperform rating and set a $15.00 price target on shares of Warner Bros. Discovery in a research note on Tuesday, May 28th. Needham & Company LLC reiterated a hold rating on shares of Warner Bros. Discovery in a research note on Friday, May 10th. Evercore ISI decreased their price target on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an outperform rating on the stock in a research note on Tuesday. Finally, Sanford C. Bernstein decreased their price target on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an outperform rating on the stock in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $12.29.

Warner Bros. Discovery Trading Up 1.8 %

Shares of WBD stock opened at $8.67 on Wednesday. Warner Bros. Discovery has a 12 month low of $6.94 and a 12 month high of $14.76. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. The business’s 50 day moving average is $7.72 and its two-hundred day moving average is $8.68. The company has a market cap of $21.24 billion, a PE ratio of -6.99 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.16). Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The company had revenue of $9.96 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same quarter last year, the business earned $0.18 EPS. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. Equities analysts predict that Warner Bros. Discovery will post -0.39 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in WBD. Public Employees Retirement Association of Colorado raised its holdings in shares of Warner Bros. Discovery by 5,128.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 350,559 shares of the company’s stock valued at $3,989,000 after buying an additional 343,854 shares during the last quarter. Thompson Investment Management Inc. raised its holdings in shares of Warner Bros. Discovery by 23.5% in the first quarter. Thompson Investment Management Inc. now owns 1,118,931 shares of the company’s stock valued at $9,768,000 after buying an additional 213,149 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Warner Bros. Discovery by 8.2% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock valued at $584,000 after buying an additional 5,081 shares during the last quarter. Global Assets Advisory LLC bought a new position in shares of Warner Bros. Discovery in the first quarter valued at about $182,000. Finally, SageView Advisory Group LLC bought a new position in shares of Warner Bros. Discovery in the fourth quarter valued at about $129,000. 59.95% of the stock is owned by 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.