Raymond James Has Lowered Expectations for Warner Bros. Discovery (NASDAQ:WBD) Stock Price

Warner Bros. Discovery (NASDAQ:WBD) had its target price decreased by Raymond James from $14.00 to $13.00 in a report issued on Friday morning,Benzinga reports. Raymond James currently has an outperform rating on the stock.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. KeyCorp increased their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their target price for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Bank of America reiterated a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Finally, Citigroup boosted their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $11.96.

Warner Bros. Discovery Stock Down 11.9 %

Shares of Warner Bros. Discovery stock opened at $8.07 on Friday. Warner Bros. Discovery has a twelve month low of $6.64 and a twelve month 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 company’s 50 day moving average is $10.50 and its 200 day moving average is $9.77. The company has a market cap of $19.81 billion, a price-to-earnings ratio of -1.76, a price-to-earnings-growth ratio of 8.64 and a beta of 1.43.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The firm had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Research analysts anticipate that Warner Bros. Discovery will post -4.33 EPS for the current year.

Insider Activity

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the purchase, the director now owns 159,932 shares in the company, valued at $1,824,824.12. The trade was a 12.17 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of large investors have recently made changes to their positions in the company. Colonial Trust Advisors increased its stake in Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after purchasing an additional 996 shares during the period. Stonebridge Financial Group LLC bought a new position in shares of Warner Bros. Discovery in the fourth quarter worth about $26,000. SRS Capital Advisors Inc. increased its stake in Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after buying an additional 1,940 shares during the period. Graney & King LLC bought a new stake in Warner Bros. Discovery during the 4th quarter valued at about $28,000. Finally, Ethos Financial Group LLC purchased a new stake in Warner Bros. Discovery in the 4th quarter valued at about $29,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

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.