KeyCorp Analysts Lower Earnings Estimates for Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Rating) – Equities research analysts at KeyCorp cut their Q4 2022 earnings estimates for shares of Warner Bros. Discovery in a note issued to investors on Tuesday, January 17th. KeyCorp analyst B. Nispel now expects that the company will earn ($0.45) per share for the quarter, down from their previous forecast of ($0.05). The consensus estimate for Warner Bros. Discovery’s current full-year earnings is $0.65 per share. KeyCorp also issued estimates for Warner Bros. Discovery’s FY2023 earnings at ($0.50) EPS.

Several other research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Warner Bros. Discovery from $48.00 to $35.00 in a report on Tuesday, November 8th. Guggenheim raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $16.50 price objective for the company in a research report on Wednesday, January 11th. Credit Suisse Group lowered their price target on Warner Bros. Discovery from $39.00 to $36.00 and set an “outperform” rating for the company in a research report on Thursday, October 13th. Citigroup reduced their price objective on Warner Bros. Discovery from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, November 10th. Finally, Morgan Stanley cut their price target on Warner Bros. Discovery from $16.00 to $14.00 and set an “equal weight” rating for the company in a research note on Friday, December 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and an average target price of $22.18.

Warner Bros. Discovery Trading Up 4.4 %

Shares of WBD opened at $13.02 on Friday. Warner Bros. Discovery has a 1-year low of $8.82 and a 1-year high of $27.50. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s 50 day simple moving average is $10.92 and its 200 day simple moving average is $12.36. The company has a market capitalization of $31.62 billion, a P/E ratio of -7.75, a P/E/G ratio of 1.16 and a beta of 1.37.

Warner Bros. Discovery (NASDAQ:WBD – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.02 by $0.15. Warner Bros. Discovery had a negative net margin of 20.13% and a positive return on equity of 2.18%. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $10.51 billion.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WBD. Country Trust Bank purchased a new stake in Warner Bros. Discovery during the 3rd quarter valued at approximately $25,000. JCIC Asset Management Inc. acquired a new stake in shares of Warner Bros. Discovery in the 3rd quarter worth approximately $25,000. Peoples Financial Services CORP. acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter worth approximately $25,000. Financial Management Professionals Inc. acquired a new stake in shares of Warner Bros. Discovery in the 3rd quarter worth approximately $26,000. Finally, Guardian Wealth Advisors LLC acquired a new stake in Warner Bros. Discovery during the 3rd quarter valued at $26,000. 55.18% of the stock is owned by institutional investors and hedge funds.

About Warner Bros. Discovery

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Warner Bros. Discovery, Inc operates as a media and entertainment company. It creates and distributes a portfolio of content and brands across television, film, and streaming. Its brands and products include Discovery Channel, discovery+, CNN, CNN+, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, Investigation Discovery, TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, Warner Bros.