Brokerages Set Warner Bros. Discovery, Inc. (NASDAQ:WBD) Price Target at $13.16 (2024)

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Free Report) have been given an average recommendation of “Moderate Buy” by the twenty ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $13.16.

WBD has been the subject of several analyst reports. 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 report on Friday, May 10th. Morgan Stanley cut their price objective on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Barclays cut their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, February 29th. Wolfe Research lowered shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective for the company. in a report on Tuesday, April 23rd. Finally, Citigroup cut 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.

Read Our Latest Research Report on Warner Bros. Discovery

Hedge Funds Weigh In On Warner Bros. Discovery

Institutional investors have recently made changes to their positions in the company. Fortis Group Advisors LLC purchased a new position in shares of Warner Bros. Discovery during the third quarter valued at $25,000. Pacifica Partners Inc. grew its stake in Warner Bros. Discovery by 118.2% in 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. Milestone Investment Advisors LLC purchased a new position in Warner Bros. Discovery in the third quarter valued at about $28,000. Headinvest LLC purchased a new position in Warner Bros. Discovery in the third quarter valued at about $28,000. Finally, Systematic Alpha Investments LLC purchased a new position in Warner Bros. Discovery in the third quarter valued at about $31,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

NASDAQ WBD opened at $8.24 on Friday. Warner Bros. Discovery has a 52 week low of $7.34 and a 52 week high of $14.76. The firm has a market capitalization of $20.19 billion, a P/E ratio of -6.65 and a beta of 1.51. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. The company has a 50-day moving average price of $8.21 and a 200-day moving average price of $9.55.

Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The business had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.22 billion. Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. Warner Bros. Discovery’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 company earned $0.18 EPS. Equities research analysts anticipate that Warner Bros. Discovery will post -0.38 earnings per share for the current year.

Warner Bros. Discovery Company Profile

(Get Free Report

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.

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