Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $9.00

Warner Bros. Discovery (NASDAQ:WBD) had its price objective increased by Macquarie from $8.00 to $9.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research firms have also commented on WBD. Sanford C. Bernstein lowered shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $10.00 to $8.00 in a report on Tuesday, August 13th. Rosenblatt Securities restated a “neutral” rating and issued a $9.00 target price on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Deutsche Bank Aktiengesellschaft dropped their price target on 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. JPMorgan Chase & Co. reduced their price objective on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, Morgan Stanley dropped their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.55.

Warner Bros. Discovery Stock Down 2.0 %

Shares of Warner Bros. Discovery stock opened at $9.18 on Friday. The business has a 50-day moving average price of $7.90 and a 200 day moving average price of $7.83. Warner Bros. Discovery has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The firm has a market cap of $22.51 billion, a P/E ratio of -1.91 and a beta of 1.48. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period in the prior year, the company posted ($0.17) EPS. The business’s revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts forecast that Warner Bros. Discovery will post -4.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Intech Investment Management LLC lifted its holdings in Warner Bros. Discovery by 40.3% in the 3rd quarter. Intech Investment Management LLC now owns 118,531 shares of the company’s stock valued at $978,000 after acquiring an additional 34,050 shares during the last quarter. Commerce Bank raised its holdings in shares of Warner Bros. Discovery by 2.4% in the 3rd quarter. Commerce Bank now owns 55,963 shares of the company’s stock worth $462,000 after purchasing an additional 1,286 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Warner Bros. Discovery during the third quarter valued at approximately $148,000. PNC Financial Services Group Inc. boosted its holdings in Warner Bros. Discovery by 25.8% during the third quarter. PNC Financial Services Group Inc. now owns 515,077 shares of the company’s stock worth $4,249,000 after buying an additional 105,670 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Warner Bros. Discovery in the third quarter worth approximately $1,695,000. 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.