Guggenheim Reiterates “Buy” Rating for Warner Bros. Discovery (NASDAQ:WBD)

Warner Bros. Discovery (NASDAQ:WBD)‘s stock had its “buy” rating reiterated by research analysts at Guggenheim in a research note issued to investors on Tuesday,Benzinga reports.

WBD has been the subject of a number of other reports. Citigroup dropped their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, May 29th. Wells Fargo & Company increased their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. Barclays boosted their target price on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Barrington Research reiterated an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research report on Monday. Finally, Benchmark restated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery has an average rating of “Moderate Buy” and an average price target of $12.17.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock traded up $0.24 on Tuesday, hitting $9.77. The company’s stock had a trading volume of 28,260,239 shares, compared to its average volume of 34,203,576. Warner Bros. Discovery has a one year low of $6.64 and a one year high of $12.70. The firm has a market cap of $23.97 billion, a P/E ratio of -2.13, a price-to-earnings-growth ratio of 8.64 and a beta of 1.51. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a fifty day moving average price of $8.84 and a 200-day moving average price of $9.94.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). 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 $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. During the same period in the previous year, the firm earned ($0.40) EPS. The business’s revenue was down 9.8% compared to the same quarter last year. On average, equities analysts anticipate that Warner Bros. Discovery will post -4.33 earnings per share for the current year.

Institutional Investors Weigh In On Warner Bros. Discovery

Several hedge funds and other institutional investors have recently made changes to their positions in WBD. Prudential PLC increased its position in Warner Bros. Discovery by 31.1% in the fourth quarter. Prudential PLC now owns 135,163 shares of the company’s stock worth $1,429,000 after purchasing an additional 32,102 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $4,914,000. SVB Wealth LLC bought a new stake in shares of Warner Bros. Discovery during the fourth quarter worth approximately $168,000. Polar Asset Management Partners Inc. acquired a new position in Warner Bros. Discovery in the fourth quarter valued at approximately $3,022,000. Finally, Natixis Advisors LLC lifted its holdings in Warner Bros. Discovery by 3.6% in the fourth quarter. Natixis Advisors LLC now owns 291,006 shares of the company’s stock valued at $3,076,000 after buying an additional 10,024 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

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.