Analysts Set Warner Bros. Discovery, Inc. (NASDAQ:WBD) Price Target at $13.83

Warner Bros. Discovery, Inc. (NASDAQ:WBD) has earned an average rating of “Moderate Buy” from the eighteen research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $13.83.

Several equities analysts recently commented on WBD shares. Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and upped their target price for the company from $7.00 to $10.00 in a research note on Thursday, March 21st. Barclays decreased their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, February 29th. Wells Fargo & Company downgraded Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $16.00 to $12.00 in a report on Monday, January 29th. Benchmark reiterated a “buy” rating and issued a $20.00 target price on shares of Warner Bros. Discovery in a report on Monday, March 4th. Finally, Morgan Stanley reduced their price objective on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Monday, February 26th.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of hedge funds have recently bought and sold shares of WBD. Patton Fund Management Inc. grew its holdings in Warner Bros. Discovery by 118.4% during the 1st quarter. Patton Fund Management Inc. now owns 26,739 shares of the company’s stock worth $233,000 after acquiring an additional 14,494 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Warner Bros. Discovery by 10.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 324,499 shares of the company’s stock worth $2,833,000 after purchasing an additional 29,642 shares during the last quarter. Entropy Technologies LP acquired a new position in Warner Bros. Discovery in the first quarter worth about $2,894,000. Edmond DE Rothschild Holding S.A. increased its holdings in Warner Bros. Discovery by 32.4% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,100,832 shares of the company’s stock valued at $9,610,000 after buying an additional 269,153 shares during the last quarter. Finally, Motley Fool Asset Management LLC raised its stake in Warner Bros. Discovery by 18.1% during the first quarter. Motley Fool Asset Management LLC now owns 79,309 shares of the company’s stock valued at $692,000 after buying an additional 12,129 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD stock opened at $7.80 on Monday. The company has a market cap of $19.03 billion, a price-to-earnings ratio of -6.09 and a beta of 1.51. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. The firm has a 50 day moving average of $8.40 and a 200-day moving average of $9.82. Warner Bros. Discovery has a 12-month low of $7.34 and a 12-month high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The business had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $10.34 billion. During the same quarter last year, the business posted $0.42 earnings per share. The business’s revenue was down 6.6% compared to the same quarter last year. As a group, equities analysts expect that Warner Bros. Discovery will post -0.35 EPS for the current fiscal year.

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.