Warner Bros. Discovery (NASDAQ:WBD – Get Free Report)’s stock had its “buy” rating reiterated by stock analysts at Benchmark in a report issued on Monday, Benzinga reports. They presently have a $20.00 price target on the stock. Benchmark’s target price points to a potential upside of 176.24% from the stock’s current price.
A number of other research firms also recently weighed in on WBD. KeyCorp raised shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 target price for the company in a research report on Friday, May 10th. Barclays dropped their price objective on 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, May 10th. Morgan Stanley dropped their price target on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Monday, February 26th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Moderate Buy” and an average target price of $13.16.
Warner Bros. Discovery Price Performance
Shares of WBD stock opened at $7.24 on Monday. The company has a market cap of $17.74 billion, a P/E ratio of -5.84 and a beta of 1.53. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. Warner Bros. Discovery has a twelve month low of $7.21 and a twelve month high of $14.76. The business has a fifty day simple moving average of $8.10 and a 200 day simple moving average of $9.36.
Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates 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 business earned $0.18 EPS. The business’s quarterly revenue was down 6.9% on a year-over-year basis. On average, sell-side analysts forecast that Warner Bros. Discovery will post -0.38 EPS for the current fiscal year.
Hedge Funds Weigh In On Warner Bros. Discovery
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its holdings in Warner Bros. Discovery by 16.6% in the 3rd quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock worth $306,085,000 after buying an additional 4,016,888 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Warner Bros. Discovery by 17.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after purchasing an additional 3,710,343 shares in the last quarter. Northern Trust Corp raised its stake in shares of Warner Bros. Discovery by 2.6% during the 3rd quarter. Northern Trust Corp now owns 20,873,998 shares of the company’s stock valued at $226,692,000 after purchasing an additional 524,965 shares during the period. EdgePoint Investment Group Inc. boosted its stake in Warner Bros. Discovery by 14.6% in the 1st quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock worth $180,016,000 after purchasing an additional 2,621,582 shares during the period. Finally, Norges Bank purchased a new position in Warner Bros. Discovery during the 4th quarter valued at about $198,916,000. 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.