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

Warner Bros. Discovery (NASDAQ:WBD) had its price objective cut by investment analysts at Barclays from $12.00 to $7.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential downside of 24.41% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a report on Thursday, December 19th. KeyCorp increased their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Bank of America restated a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, March 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and an average target price of $11.71.

Warner Bros. Discovery Trading Up 20.4 %

WBD stock opened at $9.26 on Tuesday. Warner Bros. Discovery has a 12-month low of $6.64 and a 12-month high of $12.70. The business’s 50-day moving average is $10.29 and its 200 day moving average is $9.76. 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 stock has a market cap of $22.73 billion, a price-to-earnings ratio of -2.02, a PEG ratio of 8.64 and a beta of 1.43.

Warner Bros. Discovery (NASDAQ:WBD) last issued 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). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. On average, sell-side analysts anticipate that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, with a total value of $197,917.86. Following the purchase, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Warner Bros. Discovery

Institutional investors and hedge funds have recently bought and sold shares of the business. RFG Advisory LLC purchased a new position in shares of Warner Bros. Discovery in the first quarter valued at approximately $676,000. Merit Financial Group LLC boosted its position in Warner Bros. Discovery by 11.9% in the 1st quarter. Merit Financial Group LLC now owns 26,737 shares of the company’s stock valued at $287,000 after buying an additional 2,842 shares during the period. NBC Securities Inc. grew its stake in shares of Warner Bros. Discovery by 97,080.0% in the first quarter. NBC Securities Inc. now owns 9,718 shares of the company’s stock worth $104,000 after acquiring an additional 9,708 shares in the last quarter. Douglas Lane & Associates LLC increased its position in shares of Warner Bros. Discovery by 1.8% during the first quarter. Douglas Lane & Associates LLC now owns 1,757,289 shares of the company’s stock worth $18,856,000 after acquiring an additional 30,448 shares during the period. Finally, Czech National Bank increased its position in shares of Warner Bros. Discovery by 6.0% during the first quarter. Czech National Bank now owns 512,978 shares of the company’s stock worth $5,504,000 after acquiring an additional 28,954 shares during the period. 59.95% of the stock is currently 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.