Warner Bros. Discovery (NASDAQ:WBD) Upgraded to Strong-Buy at Huber Research

Huber Research upgraded shares of Warner Bros. Discovery (NASDAQ:WBD) to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Guggenheim restated a “buy” rating on shares of Warner Bros. Discovery in a report on Tuesday. Raymond James decreased their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, April 4th. Citigroup cut their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. Argus upgraded shares of Warner Bros. Discovery to a “hold” rating in a report on Tuesday, May 27th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.17.

Warner Bros. Discovery Trading Up 5.0%

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

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data 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). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm 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 business earned ($0.40) EPS. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, analysts expect that Warner Bros. Discovery will post -4.33 EPS for the current year.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of hedge funds have recently made changes to their positions in WBD. Norges Bank bought a new position in Warner Bros. Discovery in the fourth quarter worth about $362,210,000. Contrarius Group Holdings Ltd purchased a new position in shares of Warner Bros. Discovery in the 4th quarter worth approximately $168,930,000. Independent Franchise Partners LLP bought a new position in shares of Warner Bros. Discovery during the 1st quarter worth approximately $140,224,000. FMR LLC lifted its position in Warner Bros. Discovery by 478.5% during the fourth quarter. FMR LLC now owns 14,278,600 shares of the company’s stock valued at $150,925,000 after acquiring an additional 11,810,191 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Warner Bros. Discovery in the first quarter valued at approximately $96,971,000. 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.