Warner Bros. Discovery (NASDAQ:WBD) Downgraded to Underperform at Wolfe Research

Wolfe Research lowered shares of Warner Bros. Discovery (NASDAQ:WBD) from a peer perform rating to an underperform rating in a research report report published on Tuesday, MarketBeat reports. Wolfe Research currently has $7.00 price target on the stock.

A number of other research firms have also recently commented on WBD. Barclays decreased their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an equal weight rating on the stock in a report on Thursday, February 29th. Morgan Stanley decreased their price target on Warner Bros. Discovery from $14.00 to $10.00 and set an equal weight rating on the stock in a report on Monday, February 26th. JPMorgan Chase & Co. decreased their price target on Warner Bros. Discovery from $13.00 to $10.00 and set a neutral rating on the stock in a report on Monday, February 26th. Benchmark reissued a buy rating and set a $20.00 price target on shares of Warner Bros. Discovery in a report on Monday, March 4th. Finally, Rosenblatt Securities raised Warner Bros. Discovery from a sell rating to a neutral rating and raised their price target for the company from $7.00 to $10.00 in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $13.83.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock opened at $8.44 on Tuesday. Warner Bros. Discovery has a one year low of $8.02 and a one year high of $14.76. The stock’s fifty day moving average is $8.74 and its 200 day moving average is $10.03. The stock has a market cap of $20.59 billion, a P/E ratio of -6.59 and a beta of 1.51. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The company had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. During the same period in the prior year, the business posted $0.42 earnings per share. Warner Bros. Discovery’s revenue for the quarter was down 6.6% compared to the same quarter last year. Sell-side analysts anticipate that Warner Bros. Discovery will post -0.35 earnings per share for the current year.

Institutional Investors Weigh In On Warner Bros. Discovery

Several large investors have recently added to or reduced their stakes in WBD. Fortis Group Advisors LLC bought a new stake in Warner Bros. Discovery during the third quarter worth approximately $25,000. Peoples Bank KS bought a new position in shares of Warner Bros. Discovery during the third quarter valued at approximately $27,000. Pacifica Partners Inc. grew its stake in shares of Warner Bros. Discovery by 118.2% during the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after buying an additional 1,345 shares during the last quarter. Milestone Investment Advisors LLC bought a new position in shares of Warner Bros. Discovery during the third quarter valued at approximately $28,000. Finally, Headinvest LLC bought a new position in shares of Warner Bros. Discovery during the third quarter valued at approximately $28,000. 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.