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

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) have been given an average rating of “Hold” by the twenty brokerages that are covering the firm, Marketbeat reports. Twelve equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $10.55.

Several research firms have recently commented on WBD. Barrington Research restated an “outperform” rating and set a $12.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, November 7th. Macquarie upped their price objective on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. JPMorgan Chase & Co. reduced their price objective on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Moffett Nathanson decreased their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Wells Fargo & Company dropped their price target on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th.

Institutional Trading of Warner Bros. Discovery

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Coldstream Capital Management Inc. increased its holdings in Warner Bros. Discovery by 18.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 26,307 shares of the company’s stock worth $219,000 after acquiring an additional 4,176 shares during the period. Prestige Wealth Management Group LLC increased its holdings in shares of Warner Bros. Discovery by 27.2% in the third quarter. Prestige Wealth Management Group LLC now owns 46,206 shares of the company’s stock worth $381,000 after purchasing an additional 9,874 shares during the period. M&T Bank Corp raised its position in shares of Warner Bros. Discovery by 5.5% in the third quarter. M&T Bank Corp now owns 142,588 shares of the company’s stock worth $1,177,000 after buying an additional 7,373 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Warner Bros. Discovery by 8.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 835,884 shares of the company’s stock valued at $6,896,000 after buying an additional 61,870 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in Warner Bros. Discovery during the third quarter worth about $3,827,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Trading Down 1.2 %

NASDAQ:WBD opened at $10.11 on Friday. Warner Bros. Discovery has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $24.80 billion, a price-to-earnings ratio of -2.21 and a beta of 1.48. The firm has a fifty day simple moving average of $8.34 and a two-hundred day simple moving average of $7.95.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $9.79 billion. During the same period last year, the business posted ($0.17) EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts expect that Warner Bros. Discovery will post -4.37 EPS for the current fiscal year.

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.