Warner Bros. Discovery (NASDAQ:WBD) Stock Price Expected to Rise, Barclays Analyst Says

Warner Bros. Discovery (NASDAQ:WBD) had its price objective boosted by analysts at Barclays from $8.00 to $10.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 11.23% from the company’s previous close.

Several other brokerages have also weighed in on WBD. Moffett Nathanson dropped their target price on 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. The Goldman Sachs Group lifted their target price on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Monday, October 7th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Evercore ISI reduced their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, TD Cowen reduced their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Hold” and an average target price of $10.50.

Warner Bros. Discovery Stock Down 4.1 %

Shares of NASDAQ:WBD traded down $0.38 during midday trading on Friday, hitting $8.99. 26,794,043 shares of the company’s stock traded hands, compared to its average volume of 29,059,520. Warner Bros. Discovery has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a market cap of $22.04 billion, a PE ratio of -1.85 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. The firm’s fifty day moving average price is $7.87 and its two-hundred day moving average price is $7.83.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter last year, the firm posted ($0.17) earnings per share. The business’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities research analysts anticipate that Warner Bros. Discovery will post -4.51 EPS for the current fiscal year.

Institutional Trading of Warner Bros. Discovery

Several institutional investors have recently made changes to their positions in WBD. Sessa Capital IM L.P. increased its position in shares of Warner Bros. Discovery by 28.8% during the second quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock valued at $169,520,000 after buying an additional 5,100,000 shares during the period. Retirement Systems of Alabama boosted its holdings in Warner Bros. Discovery by 781.3% in the 2nd quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock valued at $32,115,000 after purchasing an additional 3,826,715 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Warner Bros. Discovery by 1,216.7% in the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after purchasing an additional 2,780,986 shares during the period. EdgePoint Investment Group Inc. raised its position in shares of Warner Bros. Discovery by 14.6% in the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock worth $180,016,000 after buying an additional 2,621,582 shares in the last quarter. Finally, Drexel Morgan & Co. grew its position in Warner Bros. Discovery by 43.5% during the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock worth $54,454,000 after buying an additional 2,000,000 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Company Profile

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.