Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $10.00

Warner Bros. Discovery (NASDAQ:WBD) had its target price upped by Barclays from $8.00 to $10.00 in a report released on Friday,Benzinga reports. The firm currently has an equal weight rating on the stock.

WBD has been the subject of several other reports. Macquarie decreased their price objective on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Monday, August 12th. The Goldman Sachs Group increased their target price on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Evercore ISI cut their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Moffett Nathanson lowered their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Hold” and an average price target of $10.55.

Warner Bros. Discovery Price Performance

WBD traded down $0.19 on Friday, hitting $9.18. 52,663,437 shares of the company’s stock were exchanged, compared to its average volume of 24,571,940. Warner Bros. Discovery has a twelve month low of $6.64 and a twelve month high of $12.70. The stock has a fifty day moving average of $7.90 and a two-hundred day moving average of $7.84. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly 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. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. Warner Bros. Discovery’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.17) earnings per share. On average, analysts expect that Warner Bros. Discovery will post -4.55 earnings per share for the current year.

Institutional Trading of Warner Bros. Discovery

Several large investors have recently modified their holdings of WBD. Texas Permanent School Fund Corp grew its position in shares of Warner Bros. Discovery by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 458,382 shares of the company’s stock worth $4,002,000 after buying an additional 5,830 shares during the period. Empirical Finance LLC grew its position in Warner Bros. Discovery by 3.5% in the 1st quarter. Empirical Finance LLC now owns 79,751 shares of the company’s stock valued at $696,000 after purchasing an additional 2,713 shares during the period. Quantbot Technologies LP acquired a new stake in Warner Bros. Discovery in the 1st quarter valued at $457,000. Empowered Funds LLC grew its position in Warner Bros. Discovery by 124.5% in the 1st quarter. Empowered Funds LLC now owns 52,891 shares of the company’s stock valued at $462,000 after purchasing an additional 29,330 shares during the period. Finally, Oppenheimer & Co. Inc. grew its position in Warner Bros. Discovery by 1.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 380,578 shares of the company’s stock valued at $3,322,000 after purchasing an additional 3,818 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

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.