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

Macquarie cut shares of Warner Bros. Discovery (NASDAQ:WBD) from an outperform rating to a neutral rating in a report published on Thursday morning, Marketbeat reports. The brokerage currently has $9.00 target price on the stock.

Several other equities analysts also recently commented on WBD. Sanford C. Bernstein decreased their price target on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an outperform rating on the stock in a research note on Friday, May 10th. Barrington Research restated an outperform rating and issued a $12.00 price target on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. Wolfe Research downgraded shares of Warner Bros. Discovery from a peer perform rating to an underperform rating and set a $7.00 price target on the stock. in a research note on Tuesday, April 23rd. KeyCorp upgraded shares of Warner Bros. Discovery from a sector weight rating to an overweight rating and set a $11.00 price target on the stock in a research note on Friday, May 10th. Finally, Needham & Company LLC restated a hold rating on shares of Warner Bros. Discovery in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery has an average rating of Hold and an average target price of $11.87.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $8.31 on Thursday. Warner Bros. Discovery has a 1 year low of $6.94 and a 1 year high of $14.76. The firm has a market capitalization of $20.36 billion, a P/E ratio of -6.70 and a beta of 1.49. The firm’s fifty day moving average price is $7.73 and its two-hundred day moving average price is $8.58. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.16). Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The company had revenue of $9.96 billion during the quarter, compared to analyst estimates of $10.22 billion. During the same quarter in the prior year, the firm earned $0.18 earnings per share. Warner Bros. Discovery’s revenue for the quarter was down 6.9% on a year-over-year basis. As a group, research analysts anticipate that Warner Bros. Discovery will post -0.41 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Family Firm Inc. acquired a new stake in Warner Bros. Discovery during the 2nd quarter valued at approximately $26,000. Crewe Advisors LLC acquired a new stake in Warner Bros. Discovery during the 1st quarter valued at approximately $27,000. OFI Invest Asset Management increased its position 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 purchasing an additional 1,221 shares during the period. First Financial Corp IN increased its position in Warner Bros. Discovery by 577.4% during the 1st quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock valued at $30,000 after purchasing an additional 2,887 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. acquired a new stake in Warner Bros. Discovery during the 4th quarter valued at approximately $33,000. 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.