Barrington Research Comments on Warner Bros. Discovery, Inc.’s Q1 2023 Earnings (NASDAQ:WBD)

Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Rating) – Equities researchers at Barrington Research decreased their Q1 2023 earnings per share (EPS) estimates for shares of Warner Bros. Discovery in a report released on Wednesday, March 8th. Barrington Research analyst J. Goss now expects that the company will earn ($0.18) per share for the quarter, down from their prior estimate of ($0.10). The consensus estimate for Warner Bros. Discovery’s current full-year earnings is $1.11 per share. Barrington Research also issued estimates for Warner Bros. Discovery’s Q2 2023 earnings at ($0.28) EPS, Q4 2023 earnings at $0.09 EPS, FY2023 earnings at ($0.41) EPS, Q1 2024 earnings at ($0.14) EPS, Q2 2024 earnings at ($0.15) EPS, Q3 2024 earnings at $0.07 EPS, Q4 2024 earnings at $0.17 EPS, FY2024 earnings at ($0.05) EPS and FY2026 earnings at $0.26 EPS.

WBD has been the topic of a number of other reports. Rosenblatt Securities upped their target price on shares of Warner Bros. Discovery from $9.00 to $11.00 and gave the company a “sell” rating in a report on Friday, February 24th. Cowen dropped their target price on shares of Warner Bros. Discovery to $17.00 in a report on Tuesday, November 15th. Morgan Stanley upped their target price on shares of Warner Bros. Discovery from $14.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, January 30th. Guggenheim raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $16.50 target price on the stock in a report on Wednesday, January 11th. Finally, Macquarie upped their target price on shares of Warner Bros. Discovery from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, January 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.98.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $14.35 on Monday. The stock has a market capitalization of $34.87 billion, a P/E ratio of -5.48, a P/E/G ratio of 1.00 and a beta of 1.50. Warner Bros. Discovery has a twelve month low of $8.82 and a twelve month high of $27.50. The company has a 50 day moving average of $14.09 and a 200-day moving average of $12.52. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.01.

Institutional Trading of Warner Bros. Discovery

Hedge funds have recently added to or reduced their stakes in the stock. Boyar Asset Management Inc. bought a new position in shares of Warner Bros. Discovery during the third quarter valued at $1,370,000. Bessemer Group Inc. bought a new position in Warner Bros. Discovery during the third quarter worth $385,000. SG Americas Securities LLC acquired a new position in Warner Bros. Discovery in the third quarter valued at $2,938,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Warner Bros. Discovery during the third quarter valued at $67,859,000. Finally, Vontobel Holding Ltd. bought a new stake in Warner Bros. Discovery during the third quarter valued at $1,073,000. Institutional investors and hedge funds own 55.18% of the company’s stock.

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.