Raymond James Issues Positive Forecast for Warner Bros. Discovery (NASDAQ:WBD) Stock Price

Warner Bros. Discovery (NASDAQ:WBD) had its price objective hoisted by Raymond James from $11.00 to $12.00 in a report issued on Friday morning,Benzinga reports. Raymond James currently has an outperform rating on the stock.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. cut their price objective on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Benchmark reissued a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a report on Friday, September 13th. The Goldman Sachs Group raised their target price on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $9.00 target price on shares of Warner Bros. Discovery in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Hold” and a consensus target price of $10.55.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock traded down $0.19 during trading on Friday, reaching $9.18. The company’s stock had a trading volume of 52,663,437 shares, compared to its average volume of 24,571,940. The company has a 50-day simple moving average of $7.90 and a two-hundred day simple moving average of $7.84. Warner Bros. Discovery has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. Warner Bros. Discovery’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm posted ($0.17) EPS. On average, sell-side analysts predict that Warner Bros. Discovery will post -4.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Private Management Group Inc. raised its stake in shares of Warner Bros. Discovery by 37.7% in the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock valued at $56,811,000 after acquiring an additional 1,886,868 shares in the last quarter. Mackenzie Financial Corp raised its position in Warner Bros. Discovery by 1,216.7% in the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after purchasing an additional 2,780,986 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Warner Bros. Discovery by 629.4% during the third quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock worth $1,561,000 after buying an additional 163,295 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Warner Bros. Discovery by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 599,957 shares of the company’s stock worth $5,028,000 after buying an additional 105,321 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in Warner Bros. Discovery by 31.0% in the first quarter. Janus Henderson Group PLC now owns 314,948 shares of the company’s stock valued at $2,751,000 after acquiring an additional 74,587 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

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.