Warner Bros. Discovery (NASDAQ:WBD) Rating Increased to Overweight at KeyCorp

Warner Bros. Discovery (NASDAQ:WBD) was upgraded by investment analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research note issued on Friday, Briefing.com reports. The brokerage currently has a $11.00 price target on the stock. KeyCorp’s price target suggests a potential upside of 36.82% from the company’s previous close.

A number of other research firms also recently weighed in on WBD. Citigroup decreased their price objective on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Benchmark reiterated a “buy” rating and set a $20.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, March 4th. JPMorgan Chase & Co. reduced their target price on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, February 26th. Wolfe Research lowered shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 target price on the stock. in a report on Tuesday, April 23rd. Finally, Morgan Stanley cut their price target on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $13.68.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $8.04 on Friday. The business’s 50 day moving average is $8.39 and its 200-day moving average is $9.80. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $19.62 billion, a PE ratio of -6.28 and a beta of 1.51. Warner Bros. Discovery has a 1-year low of $7.34 and a 1-year high of $14.76.

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

Institutional Investors Weigh In On Warner Bros. Discovery

Institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in shares of Warner Bros. Discovery during the fourth quarter worth about $198,916,000. Boston Partners increased its stake in shares of Warner Bros. Discovery by 43.0% in the third quarter. Boston Partners now owns 14,225,819 shares of the company’s stock worth $153,713,000 after purchasing an additional 4,275,994 shares in the last quarter. Invesco Ltd. boosted its holdings in Warner Bros. Discovery by 16.6% in the 3rd quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock worth $306,085,000 after buying an additional 4,016,888 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Warner Bros. Discovery by 17.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after acquiring an additional 3,710,343 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Warner Bros. Discovery by 12.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company’s stock worth $237,007,000 after purchasing an additional 2,356,665 shares in the last quarter. 59.95% of the stock is owned by 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.