Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $9.00

Warner Bros. Discovery (NASDAQ:WBD) had its price objective raised by Barclays from $7.00 to $9.00 in a research note released on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts have also issued reports on the company. Citigroup increased their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Wells Fargo & Company cut their price target on Warner Bros. Discovery from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Rosenblatt Securities reiterated a “neutral” rating and set a $13.00 price target on shares of Warner Bros. Discovery in a report on Friday, March 7th. Morgan Stanley dropped their price objective on Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Benchmark reiterated a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.22.

Warner Bros. Discovery Trading Up 0.3 %

Shares of NASDAQ WBD opened at $9.04 on Friday. The firm has a market capitalization of $22.19 billion, a PE ratio of -1.97, a PEG ratio of 8.64 and a beta of 1.46. Warner Bros. Discovery has a one year low of $6.64 and a one year high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average price of $9.35 and a two-hundred day moving average price of $9.82.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $8.98 billion for the quarter, compared to analysts’ expectations of $9.66 billion. During the same period in the previous year, the firm posted ($0.40) earnings per share. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, analysts predict that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Insider Activity at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of Warner Bros. Discovery stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the acquisition, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Colonial Trust Advisors increased its stake in Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after acquiring an additional 996 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. increased its position in shares of Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after purchasing an additional 1,940 shares during the period. Financial Gravity Asset Management Inc. acquired a new position in shares of Warner Bros. Discovery in the first quarter valued at $27,000. Finally, Graney & King LLC acquired a new stake in Warner Bros. Discovery during the fourth quarter worth $28,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

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.