Warner Bros. Discovery (NASDAQ:WBD) Price Target Lowered to $13.00 at KeyCorp

Warner Bros. Discovery (NASDAQ:WBD) had its target price cut by investment analysts at KeyCorp from $14.00 to $13.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price objective indicates a potential upside of 58.83% from the company’s previous close.

WBD has been the subject of several other research reports. JPMorgan Chase & Co. boosted their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Barrington Research reissued an “outperform” rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, March 5th. Benchmark reiterated a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. The Goldman Sachs Group lifted their price target on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Finally, Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their target price for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and an average target price of $11.66.

Warner Bros. Discovery Stock Up 2.7 %

Shares of Warner Bros. Discovery stock opened at $8.19 on Monday. The firm’s 50-day moving average is $10.21 and its two-hundred day moving average is $9.77. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $20.09 billion, a price-to-earnings ratio of -1.76, a PEG ratio of 8.64 and a beta of 1.43. Warner Bros. Discovery has a 1 year low of $6.64 and a 1 year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. As a group, research analysts expect that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the transaction, the director now directly owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of hedge funds have recently modified their holdings of WBD. Norges Bank acquired a new stake in Warner Bros. Discovery during the 4th quarter valued at $362,210,000. Contrarius Group Holdings Ltd bought a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at approximately $168,930,000. FMR LLC lifted its stake in Warner Bros. Discovery by 478.5% in the fourth quarter. FMR LLC now owns 14,278,600 shares of the company’s stock valued at $150,925,000 after acquiring an additional 11,810,191 shares during the last quarter. Slate Path Capital LP increased its stake in shares of Warner Bros. Discovery by 36.6% during the 4th quarter. Slate Path Capital LP now owns 23,801,000 shares of the company’s stock worth $251,577,000 after purchasing an additional 6,381,000 shares during the last quarter. Finally, Sachem Head Capital Management LP bought a new position in shares of Warner Bros. Discovery during the 4th quarter valued at $64,847,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

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.