Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $9.00

Warner Bros. Discovery (NASDAQ:WBD) had its price target hoisted by Barclays from $7.00 to $9.00 in a research note issued to investors on Friday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other brokerages have also issued reports on WBD. Benchmark reissued a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and raised their target price for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. Morgan Stanley dropped their target price on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. JPMorgan Chase & Co. raised their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery 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 data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and an average price target of $12.22.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock opened at $9.04 on Friday. The firm has a market cap of $22.19 billion, a PE ratio of -1.97, a price-to-earnings-growth ratio of 8.64 and a beta of 1.46. Warner Bros. Discovery has a 12-month low of $6.64 and a 12-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 fifty day simple moving average is $9.35 and its two-hundred day simple moving average is $9.86.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The firm had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Warner Bros. Discovery’s revenue was down 9.8% on a year-over-year basis. During the same period last year, the business earned ($0.40) EPS. As a group, equities analysts expect that Warner Bros. Discovery will post -4.33 EPS for the current year.

Insider Activity at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now owns 159,932 shares in the company, valued at $1,824,824.12. This trade represents a 12.17% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% 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 company. Colonial Trust Advisors increased its stake in Warner Bros. Discovery by 71.8% during the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after purchasing an additional 996 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $26,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Warner Bros. Discovery in the first quarter worth approximately $27,000. SRS Capital Advisors Inc. grew its stake in shares of Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after acquiring an additional 1,940 shares during the period. Finally, North Capital Inc. bought a new stake in shares of Warner Bros. Discovery in the first quarter worth approximately $28,000. 59.95% of the stock is currently owned by institutional investors.

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.