Warner Bros. Discovery (NASDAQ:WBD) Given New $9.00 Price Target at Macquarie

Warner Bros. Discovery (NASDAQ:WBD) had its price target increased by Macquarie from $8.00 to $9.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages have also recently weighed in on WBD. Wells Fargo & Company dropped their price target on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a report on Friday, September 13th. Barclays upped their price objective on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday. Rosenblatt Securities restated a “neutral” rating and issued a $9.00 price objective on shares of Warner Bros. Discovery in a report on Friday, September 13th. Finally, Barrington Research restated an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a report on Thursday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $10.55.

Warner Bros. Discovery Stock Down 2.0 %

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 debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76. The firm’s 50-day moving average is $7.90 and its two-hundred day moving average is $7.84. Warner Bros. Discovery has a 52-week low of $6.64 and a 52-week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.17) EPS. As a group, research analysts predict that Warner Bros. Discovery will post -4.55 earnings per share for the current fiscal year.

Institutional Trading of Warner Bros. Discovery

Institutional investors have recently made changes to their positions in the stock. Sessa Capital IM L.P. boosted its holdings in shares of Warner Bros. Discovery by 28.8% in the second quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock worth $169,520,000 after buying an additional 5,100,000 shares during the last quarter. EdgePoint Investment Group Inc. boosted its holdings in shares of Warner Bros. Discovery by 1.1% in the second quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock worth $155,165,000 after buying an additional 235,192 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Warner Bros. Discovery by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock worth $105,595,000 after buying an additional 719,869 shares during the last quarter. Yacktman Asset Management LP boosted its holdings in shares of Warner Bros. Discovery by 1.2% in the second quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock worth $60,654,000 after buying an additional 100,565 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its holdings in shares of Warner Bros. Discovery by 23.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock worth $56,116,000 after buying an additional 1,452,913 shares during the last quarter. Hedge funds and other institutional investors 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.