Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $14.00 at KeyCorp

Warner Bros. Discovery (NASDAQ:WBD) had its price objective lifted by KeyCorp from $11.00 to $14.00 in a report released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently commented on WBD. Barrington Research reaffirmed an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a report on Thursday, November 7th. Raymond James raised their price target 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. Barclays boosted their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. The Goldman Sachs Group increased their price objective on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Finally, Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.71.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $10.89 on Tuesday. The firm has a market capitalization of $26.71 billion, a price-to-earnings ratio of -2.38 and a beta of 1.51. 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’s 50-day moving average price is $8.87 and its 200-day moving average price is $8.16. Warner Bros. Discovery has a 12 month low of $6.64 and a 12 month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates 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 company’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) EPS. Equities research analysts forecast that Warner Bros. Discovery will post -4.37 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WBD. State Street Corp grew its stake in shares of Warner Bros. Discovery by 4.1% in the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after acquiring an additional 5,898,611 shares in the last quarter. Sessa Capital IM L.P. lifted its stake in Warner Bros. Discovery by 24.7% in the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after purchasing an additional 5,625,545 shares during the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of Warner Bros. Discovery by 2.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock worth $176,523,000 after acquiring an additional 541,192 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Warner Bros. Discovery by 1.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock worth $172,338,000 after purchasing an additional 329,620 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Warner Bros. Discovery by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock valued at $129,405,000 after buying an additional 687,612 shares in the last quarter. 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.