Warner Bros. Discovery, Inc. (NASDAQ:WBD) Receives $14.24 Consensus PT from Brokerages

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) have been assigned an average rating of “Moderate Buy” from the eighteen analysts that are covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $14.24.

A number of brokerages have recently issued reports on WBD. Macquarie dropped their price target on Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, January 22nd. Barclays decreased their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 29th. Rosenblatt Securities raised Warner Bros. Discovery from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $7.00 to $10.00 in a research note on Thursday, March 21st. Benchmark reaffirmed a “buy” rating and issued a $20.00 price target on shares of Warner Bros. Discovery in a research note on Monday, March 4th. Finally, Redburn Atlantic cut Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research note on Thursday, January 11th.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WBD. Oppenheimer & Co. Inc. lifted its stake in shares of Warner Bros. Discovery by 15.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 409,018 shares of the company’s stock valued at $4,442,000 after purchasing an additional 53,909 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Warner Bros. Discovery by 39.9% in the third quarter. Daiwa Securities Group Inc. now owns 423,008 shares of the company’s stock worth $4,594,000 after buying an additional 120,586 shares during the period. New South Capital Management Inc. raised its holdings in shares of Warner Bros. Discovery by 21.1% in the third quarter. New South Capital Management Inc. now owns 4,082,322 shares of the company’s stock worth $44,334,000 after buying an additional 711,820 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Warner Bros. Discovery by 4.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company’s stock worth $9,168,000 after buying an additional 36,405 shares during the period. Finally, Anchor Investment Management LLC purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $105,000. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Trading Down 2.3 %

Shares of Warner Bros. Discovery stock opened at $8.34 on Thursday. Warner Bros. Discovery has a 1 year low of $8.02 and a 1 year high of $14.76. The firm has a market cap of $20.35 billion, a PE ratio of -6.52 and a beta of 1.51. The stock has a fifty day moving average price of $8.93 and a 200-day moving average price of $10.13. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The firm had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.34 billion. During the same quarter in the previous year, the company posted $0.42 EPS. The firm’s revenue was down 6.6% compared to the same quarter last year. Equities research analysts anticipate that Warner Bros. Discovery will post -0.35 EPS for the current year.

Warner Bros. Discovery Company Profile

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.