Warner Bros. Discovery (NASDAQ:WBD) Downgraded to “Neutral” at Macquarie

Macquarie downgraded shares of Warner Bros. Discovery (NASDAQ:WBD) from an outperform rating to a neutral rating in a research report report published on Thursday, MarketBeat Ratings reports. Macquarie currently has $9.00 price target on the stock.

Several other research analysts have also weighed in on the stock. Sanford C. Bernstein lowered their target price on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an outperform rating for the company in a research note on Friday, May 10th. Wolfe Research lowered shares of Warner Bros. Discovery from a peer perform rating to an underperform rating and set a $7.00 price objective for the company. in a research note on Tuesday, April 23rd. Evercore ISI lowered their price objective on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an outperform rating for the company in a research note on Tuesday, July 16th. Benchmark reissued a buy rating and issued a $20.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, July 17th. Finally, Barrington Research reissued an outperform rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a research note on Tuesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of Hold and a consensus price target of $11.87.

Warner Bros. Discovery Trading Down 5.7 %

Shares of WBD stock opened at $7.99 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $19.58 billion, a PE ratio of -6.44 and a beta of 1.49. The company has a 50-day moving average of $7.73 and a two-hundred day moving average of $8.60. Warner Bros. Discovery has a 1-year low of $6.94 and a 1-year high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The company had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period last year, the business earned $0.18 EPS. On average, analysts predict that Warner Bros. Discovery will post -0.4 EPS for the current year.

Institutional Trading of Warner Bros. Discovery

Several institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in Warner Bros. Discovery by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock valued at $105,595,000 after purchasing an additional 719,869 shares during the last quarter. IMA Advisory Services Inc. purchased a new stake in Warner Bros. Discovery in the 2nd quarter valued at $804,000. Harbor Island Capital LLC raised its position in Warner Bros. Discovery by 54.5% in the 2nd quarter. Harbor Island Capital LLC now owns 1,068,338 shares of the company’s stock valued at $7,948,000 after purchasing an additional 377,030 shares during the last quarter. AMG National Trust Bank raised its position in Warner Bros. Discovery by 63.6% in the 2nd quarter. AMG National Trust Bank now owns 134,289 shares of the company’s stock valued at $999,000 after purchasing an additional 52,228 shares during the last quarter. Finally, North Growth Management Ltd. raised its position in Warner Bros. Discovery by 40.7% in the 2nd quarter. North Growth Management Ltd. now owns 1,041,000 shares of the company’s stock valued at $7,745,000 after purchasing an additional 301,000 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

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.