Warner Bros. Discovery (NASDAQ:WBD) Releases Quarterly Earnings Results, Misses Estimates By $0.30 EPS

Warner Bros. Discovery (NASDAQ:WBD) posted its quarterly earnings data on Thursday. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30), Zacks reports. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%.

Warner Bros. Discovery Stock Up 4.8 %

Shares of NASDAQ WBD traded up $0.50 during midday trading on Thursday, hitting $11.00. The company’s stock had a trading volume of 98,416,765 shares, compared to its average volume of 30,346,641. The business’s fifty day simple moving average is $10.31 and its two-hundred day simple moving average is $9.20. 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 has a 1 year low of $6.64 and a 1 year high of $12.70. The firm has a market capitalization of $26.98 billion, a price-to-earnings ratio of -2.40, a price-to-earnings-growth ratio of 8.64 and a beta of 1.49.

Analysts Set New Price Targets

A number of brokerages have issued reports on WBD. Barclays upped their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Guggenheim increased their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, December 12th. Barrington Research reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.76.

Insider Buying and Selling

In related news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the transaction, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by insiders.

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.