Warner Bros. Discovery (NASDAQ:WBD) Shares Gap Up – What’s Next?

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) gapped up before the market opened on Thursday . The stock had previously closed at $8.38, but opened at $9.02. Warner Bros. Discovery shares last traded at $9.52, with a volume of 15,441,142 shares changing hands.

Analyst Ratings Changes

Several research firms have recently commented on WBD. Moffett Nathanson reduced their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Barclays cut their price objective on Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Morgan Stanley dropped their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.66.

Warner Bros. Discovery Price Performance

The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $22.83 billion, a price-to-earnings ratio of -1.94 and a beta of 1.48. The stock has a 50-day moving average price of $7.84 and a 200 day moving average price of $7.82.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The business had revenue of $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.51) earnings per share. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Warner Bros. Discovery

Hedge funds and other institutional investors have recently bought and sold shares of the business. Crewe Advisors LLC acquired a new stake in shares of Warner Bros. Discovery in the 1st quarter worth approximately $27,000. Family Firm Inc. purchased a new stake in shares of Warner Bros. Discovery in the 2nd quarter worth about $26,000. OFI Invest Asset Management increased its holdings in Warner Bros. Discovery by 45.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after acquiring an additional 1,221 shares in the last quarter. Transcendent Capital Group LLC raised its position in Warner Bros. Discovery by 665.4% during the first quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock worth $35,000 after acquiring an additional 3,480 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Warner Bros. Discovery in the first quarter valued at about $39,000. Institutional investors and hedge funds 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.