Warner Bros. Discovery’s (WBD) Outperform Rating Reiterated at Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Warner Bros. Discovery (NASDAQ:WBD) in a report published on Monday morning,Benzinga reports. The brokerage currently has a $16.00 price objective on the stock.

WBD has been the topic of several other research reports. Morgan Stanley reduced their target price on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 6th. Raymond James cut their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, April 4th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Argus raised shares of Warner Bros. Discovery to a “hold” rating in a report on Tuesday, May 27th. Finally, Wells Fargo & Company lifted their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday, May 9th. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.17.

Warner Bros. Discovery Stock Up 5.0%

Shares of WBD opened at $10.51 on Monday. The stock has a market capitalization of $25.80 billion, a PE ratio of -2.29, a P/E/G ratio of 8.64 and a beta of 1.51. Warner Bros. Discovery has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The company’s 50-day simple moving average is $8.90 and its 200-day simple moving average is $9.94.

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

Institutional Trading of Warner Bros. Discovery

A number of institutional investors have recently bought and sold shares of WBD. Brighton Jones LLC raised its stake in shares of Warner Bros. Discovery by 304.9% during the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after buying an additional 51,920 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Warner Bros. Discovery by 10.8% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,108,231 shares of the company’s stock valued at $53,994,000 after acquiring an additional 498,689 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Warner Bros. Discovery by 1.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 251,067 shares of the company’s stock worth $2,654,000 after acquiring an additional 2,559 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of Warner Bros. Discovery by 0.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 188,850 shares of the company’s stock valued at $1,996,000 after purchasing an additional 1,549 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Warner Bros. Discovery by 5.1% in the fourth quarter. Empowered Funds LLC now owns 61,303 shares of the company’s stock valued at $648,000 after purchasing an additional 2,949 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

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.