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

Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the twenty analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $13.16.

A number of equities research analysts have recently commented on the company. Morgan Stanley lowered their price objective on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a research report on Monday, February 26th. Benchmark reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Warner Bros. Discovery in a research report on Monday, March 4th. Rosenblatt Securities raised Warner Bros. Discovery from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $7.00 to $10.00 in a research report on Thursday, March 21st. Wolfe Research downgraded Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective for the company. in a research report on Tuesday, April 23rd. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday, May 28th.

Get Our Latest Stock Report on WBD

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $8.24 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a fifty day moving average of $8.21 and a two-hundred day moving average of $9.55. The company has a market capitalization of $20.19 billion, a price-to-earnings ratio of -6.65 and a beta of 1.51. Warner Bros. Discovery has a fifty-two week low of $7.34 and a fifty-two week high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The company had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The business’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 EPS. On average, analysts anticipate that Warner Bros. Discovery will post -0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. increased its holdings in Warner Bros. Discovery by 15.2% in the third quarter. Oppenheimer & Co. Inc. now owns 409,018 shares of the company’s stock valued at $4,442,000 after buying an additional 53,909 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Warner Bros. Discovery by 4.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company’s stock valued at $9,168,000 after buying an additional 36,405 shares during the last quarter. Anchor Investment Management LLC bought a new stake in Warner Bros. Discovery in the fourth quarter valued at about $105,000. Ameriprise Financial Inc. increased its holdings in Warner Bros. Discovery by 2.4% in the third quarter. Ameriprise Financial Inc. now owns 7,879,216 shares of the company’s stock valued at $85,588,000 after buying an additional 186,639 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Warner Bros. Discovery by 11.3% in the fourth quarter. Fisher Asset Management LLC now owns 1,839,596 shares of the company’s stock valued at $20,935,000 after buying an additional 187,508 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

About Warner Bros. Discovery

(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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