Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) – Analysts at Seaport Res Ptn lowered their FY2023 earnings estimates for Warner Bros. Discovery in a research note issued on Tuesday, November 14th. Seaport Res Ptn analyst D. Joyce now forecasts that the company will post earnings of ($1.22) per share for the year, down from their previous forecast of ($1.12). Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for Warner Bros. Discovery’s current full-year earnings is ($1.18) per share. Seaport Res Ptn also issued estimates for Warner Bros. Discovery’s Q4 2023 earnings at ($0.10) EPS, Q1 2024 earnings at ($0.79) EPS, Q2 2024 earnings at ($0.32) EPS, Q3 2024 earnings at ($0.64) EPS, Q4 2024 earnings at ($0.11) EPS, FY2024 earnings at ($1.87) EPS and FY2025 earnings at ($1.78) EPS.
Other equities research analysts have also issued reports about the stock. Wells Fargo & Company lowered their price objective on shares of Warner Bros. Discovery from $20.00 to $16.00 and set an “overweight” rating for the company in a report on Thursday, November 9th. The Goldman Sachs Group lowered their price objective on shares of Warner Bros. Discovery from $17.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, November 9th. Morgan Stanley lowered their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, November 7th. Truist Financial reaffirmed a “buy” rating and issued a $17.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, September 6th. Finally, UBS Group decreased their target price on shares of Warner Bros. Discovery from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and a consensus price target of $16.73.
Warner Bros. Discovery Stock Down 2.3 %
Shares of WBD opened at $10.32 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.88 and a current ratio of 0.88. Warner Bros. Discovery has a fifty-two week low of $8.82 and a fifty-two week high of $16.34. The firm has a 50 day moving average price of $10.67 and a 200-day moving average price of $11.98.
Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last announced its earnings results on Wednesday, November 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.16). Warner Bros. Discovery had a negative net margin of 11.48% and a negative return on equity of 0.47%. The company had revenue of $9.98 billion for the quarter, compared to the consensus estimate of $9.97 billion. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year.
Institutional Trading of Warner Bros. Discovery
Hedge funds and other institutional investors have recently modified their holdings of the business. Country Trust Bank grew its position in shares of Warner Bros. Discovery by 76.0% in the 3rd quarter. Country Trust Bank now owns 2,314 shares of the company’s stock worth $25,000 after buying an additional 999 shares during the period. Manchester Capital Management LLC boosted its stake in Warner Bros. Discovery by 274.6% in the 1st quarter. Manchester Capital Management LLC now owns 1,817 shares of the company’s stock worth $27,000 after purchasing an additional 1,332 shares in the last quarter. Peoples Bank KS bought a new position in Warner Bros. Discovery in the 3rd quarter worth about $27,000. Milestone Investment Advisors LLC bought a new position in Warner Bros. Discovery during the 3rd quarter valued at about $28,000. Finally, Hanson & Doremus Investment Management lifted its stake in Warner Bros. Discovery by 2,218.0% during the 2nd quarter. Hanson & Doremus Investment Management now owns 2,318 shares of the company’s stock valued at $29,000 after acquiring an additional 2,218 shares during the period. 58.26% of the stock is owned by hedge funds and other institutional investors.
About Warner Bros. Discovery
Warner Bros. Discovery, Inc, operates 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 lienses television programs to third parties and networks 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.
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