Warner Bros. Discovery (NASDAQ:WBD) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Warner Bros. Discovery (NASDAQ:WBD) from a strong sell rating to a hold rating in a research note published on Monday morning,Zacks.com reports.

Other equities analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft lowered Warner Bros. Discovery from a “buy” rating to a “hold” rating and increased their price target for the company from $29.50 to $31.00 in a research note on Friday, February 27th. KeyCorp reissued an “overweight” rating on shares of Warner Bros. Discovery in a research note on Friday, April 24th. Arete Research reissued a “neutral” rating and set a $31.25 price target on shares of Warner Bros. Discovery in a research note on Friday, February 27th. Sanford C. Bernstein increased their price target on Warner Bros. Discovery from $23.50 to $27.75 and gave the company a “market perform” rating in a research note on Tuesday, February 24th. Finally, Wells Fargo & Company started coverage on Warner Bros. Discovery in a research note on Monday, March 9th. They set an “equal weight” rating and a $31.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $27.04.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $27.18 on Monday. The business has a 50-day moving average price of $27.22 and a 200-day moving average price of $27.31. Warner Bros. Discovery has a twelve month low of $9.11 and a twelve month high of $30.00. The firm has a market cap of $68.14 billion, a price-to-earnings ratio of -38.83 and a beta of 1.54. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The firm had revenue of $8.89 billion for the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the previous year, the company posted ($0.18) earnings per share. Warner Bros. Discovery’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, equities research analysts predict that Warner Bros. Discovery will post -0.89 EPS for the current fiscal year.

Insider Activity

In other news, Director Fazal F. Merchant sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $27.48, for a total value of $961,800.00. Following the completion of the sale, the director directly owned 95,539 shares of the company’s stock, valued at $2,625,411.72. This trade represents a 26.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bruce Campbell sold 41,784 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $27.82, for a total value of $1,162,430.88. Following the completion of the sale, the insider directly owned 604,666 shares of the company’s stock, valued at $16,821,808.12. The trade was a 6.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 676,784 shares of company stock valued at $18,534,231 in the last ninety days. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Warner Bros. Discovery

Several institutional investors have recently modified their holdings of WBD. Concord Wealth Partners lifted its stake in shares of Warner Bros. Discovery by 49.9% in the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock valued at $26,000 after purchasing an additional 440 shares during the last quarter. Swiss RE Ltd. purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $26,000. Physician Wealth Advisors Inc. lifted its stake in shares of Warner Bros. Discovery by 152.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after acquiring an additional 847 shares during the last quarter. Fideuram Asset Management Ireland dac bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $29,000. Finally, MV Capital Management Inc. bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $30,000. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.