Warner Bros. Discovery (NASDAQ:WBD – Get Rating) posted its quarterly earnings data on Thursday. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.80, Fidelity Earnings reports. Warner Bros. Discovery had a positive return on equity of 4.28% and a negative net margin of 14.32%. The firm had revenue of $9.83 billion during the quarter, compared to analyst estimates of $11.90 billion. During the same period last year, the company posted $0.83 EPS. The business’s quarterly revenue was up 220.9% on a year-over-year basis.
Warner Bros. Discovery Stock Down 16.5 %
Warner Bros. Discovery stock traded down $2.89 during trading hours on Friday, hitting $14.59. The stock had a trading volume of 67,899,746 shares, compared to its average volume of 19,201,756. The stock has a 50-day simple moving average of $14.98. Warner Bros. Discovery has a 12-month low of $12.77 and a 12-month high of $27.50. The company has a debt-to-equity ratio of 1.03, a quick ratio of 2.01 and a current ratio of 2.01.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Wells Fargo & Company downgraded shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $42.00 to $19.00 in a research report on Friday. Citigroup cut their price target on shares of Warner Bros. Discovery from $40.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, July 7th. Bank of America decreased their price target on Warner Bros. Discovery from $45.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, July 14th. Benchmark started coverage on Warner Bros. Discovery in a research report on Wednesday, June 29th. They issued a “buy” rating and a $26.00 target price for the company. Finally, Credit Suisse Group dropped their price target on Warner Bros. Discovery from $52.00 to $43.00 and set an “outperform” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.73.
Warner Bros. Discovery Company Profile
Warner Bros. Discovery, Inc, a media company, provides content across various distribution platforms in approximately 50 languages worldwide. It also produces, develops, and distributes feature films, television, gaming, and other content in various physical and digital formats through basic networks, direct-to-consumer or theatrical, TV content, and games licensing.
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