Warner Bros. Discovery, Inc. (NASDAQ:WBD) Receives $10.55 Consensus Price Target from Brokerages

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) have received a consensus recommendation of “Hold” from the twenty brokerages that are currently covering the company, MarketBeat.com reports. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $10.55.

A number of research analysts have recently commented on WBD shares. Sanford C. Bernstein cut shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $10.00 to $8.00 in a report on Tuesday, August 13th. Wells Fargo & Company dropped their target price on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. TD Cowen dropped their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Macquarie raised their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th.

Hedge Funds Weigh In On Warner Bros. Discovery

Large investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in shares of Warner Bros. Discovery in the 1st quarter worth approximately $27,000. Family Firm Inc. acquired a new position in shares of Warner Bros. Discovery during the second quarter worth $26,000. OFI Invest Asset Management lifted its holdings in shares of 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 last quarter. Transcendent Capital Group LLC boosted its position in shares of Warner Bros. Discovery by 665.4% in the 1st quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock worth $35,000 after purchasing an additional 3,480 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Warner Bros. Discovery in the 1st quarter worth $39,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Up 2.7 %

Shares of NASDAQ:WBD opened at $10.38 on Friday. The firm has a market capitalization of $25.46 billion, a PE ratio of -2.27 and a beta of 1.48. The business has a 50 day simple moving average of $8.45 and a two-hundred day simple moving average of $8.00. Warner Bros. Discovery has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

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 return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter in the previous year, the business earned ($0.17) EPS. Warner Bros. Discovery’s revenue was down 3.6% compared to the same quarter last year. On average, equities analysts predict that Warner Bros. Discovery will post -4.37 EPS for the current year.

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.