Q2 2024 EPS Estimates for Warner Bros. Discovery, Inc. (NASDAQ:WBD) Lifted by Seaport Res Ptn

Warner Bros. Discovery, Inc. (NASDAQ:WBD) – Equities research analysts at Seaport Res Ptn boosted their Q2 2024 earnings estimates for shares of Warner Bros. Discovery in a research note issued on Monday, May 13th. Seaport Res Ptn analyst D. Joyce now forecasts that the company will post earnings per share of ($0.22) for the quarter, up from their prior forecast of ($0.26). The consensus estimate for Warner Bros. Discovery’s current full-year earnings is ($0.34) per share. Seaport Res Ptn also issued estimates for Warner Bros. Discovery’s Q3 2024 earnings at ($0.03) EPS, Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.69) EPS and FY2025 earnings at ($0.22) EPS.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The business had revenue of $9.96 billion during the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 earnings per share.

Several other analysts have also recently weighed in on WBD. Benchmark reiterated a “buy” rating and issued a $20.00 price target on shares of Warner Bros. Discovery in a report on Monday, March 4th. Barclays cut their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 29th. Sanford C. Bernstein decreased their price target 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. Citigroup lowered their price objective on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Finally, Morgan Stanley reduced their target price on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.32.

Warner Bros. Discovery Price Performance

WBD opened at $8.20 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $20.01 billion, a PE ratio of -6.61 and a beta of 1.51. The stock’s 50 day moving average price is $8.39 and its 200-day moving average price is $9.76. Warner Bros. Discovery has a 52-week low of $7.34 and a 52-week high of $14.76.

Institutional Investors Weigh In On Warner Bros. Discovery

Several institutional investors and hedge funds have recently made changes to their positions in WBD. Fortis Group Advisors LLC bought a new position in Warner Bros. Discovery during the 3rd quarter valued at about $25,000. Pacifica Partners Inc. raised its holdings in shares of Warner Bros. Discovery by 118.2% during the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after purchasing an additional 1,345 shares during the last quarter. Crewe Advisors LLC bought a new position in Warner Bros. Discovery during the first quarter valued at approximately $27,000. Milestone Investment Advisors LLC bought a new position in Warner Bros. Discovery during the third quarter valued at approximately $28,000. Finally, Headinvest LLC purchased a new stake in Warner Bros. Discovery in the third quarter worth approximately $28,000. 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.