Warner Bros. Discovery (NASDAQ:WBD) Stock Price Expected to Rise, Guggenheim Analyst Says

Warner Bros. Discovery (NASDAQ:WBD) had its price objective increased by Guggenheim from $11.00 to $12.50 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently commented on WBD. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Raymond James raised their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Finally, Barclays lifted their price objective on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Hold” and an average target price of $11.33.

Warner Bros. Discovery Stock Down 3.4 %

WBD stock opened at $12.07 on Thursday. The stock has a market capitalization of $29.61 billion, a PE ratio of -2.64 and a beta of 1.52. Warner Bros. Discovery has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a 50 day moving average of $9.11 and a 200 day moving average of $8.24.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.17) earnings per share. Sell-side analysts forecast that Warner Bros. Discovery will post -4.37 earnings per share for the current year.

Institutional Trading of Warner Bros. Discovery

A number of institutional investors and hedge funds have recently modified their holdings of WBD. State Street Corp raised its stake in Warner Bros. Discovery by 4.1% in the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after purchasing an additional 5,898,611 shares during the last quarter. Sessa Capital IM L.P. grew its holdings in shares of Warner Bros. Discovery by 24.7% during the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after buying an additional 5,625,545 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Warner Bros. Discovery by 781.3% in the second quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock valued at $32,115,000 after buying an additional 3,826,715 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Warner Bros. Discovery by 1,216.7% in the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after buying an additional 2,780,986 shares in the last quarter. Finally, Drexel Morgan & Co. boosted its position in Warner Bros. Discovery by 43.5% during the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock worth $54,454,000 after acquiring an additional 2,000,000 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

About Warner Bros. Discovery

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.