Warner Bros. Discovery, Inc. (NASDAQ:WBD) Receives $10.66 Average Price Target from Brokerages

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) have received a consensus rating of “Hold” from the twenty analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $10.66.

Several research firms recently commented on WBD. Benchmark restated a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Moffett Nathanson lowered their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group boosted their price target on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Monday, October 7th. TD Cowen lowered their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Wells Fargo & Company cut their target price on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th.

Warner Bros. Discovery Trading Up 1.2 %

Shares of Warner Bros. Discovery stock opened at $8.23 on Monday. The company’s 50-day moving average price is $7.83 and its 200-day moving average price is $7.82. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. Warner Bros. Discovery has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a market cap of $20.18 billion, a price-to-earnings ratio of -1.71 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The firm had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.51) earnings per share. On average, equities analysts expect that Warner Bros. Discovery will post -4.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Warner Bros. Discovery

Hedge funds have recently modified their holdings of the company. Sessa Capital IM L.P. raised its position in Warner Bros. Discovery by 28.8% during the 2nd quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock valued at $169,520,000 after purchasing an additional 5,100,000 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in shares of Warner Bros. Discovery by 1.1% during the second quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock valued at $155,165,000 after acquiring an additional 235,192 shares in the last quarter. Bank of New York Mellon Corp increased its position in Warner Bros. Discovery by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock valued at $105,595,000 after purchasing an additional 719,869 shares during the period. Yacktman Asset Management LP raised its holdings in Warner Bros. Discovery by 1.2% in the 2nd quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock worth $60,654,000 after purchasing an additional 100,565 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its position in shares of Warner Bros. Discovery by 23.9% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock worth $56,116,000 after purchasing an additional 1,452,913 shares during the period. Hedge funds and other institutional investors 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.