Warner Bros. Discovery (NASDAQ:WBD) Posts Earnings Results, Misses Estimates By $0.30 EPS

Warner Bros. Discovery (NASDAQ:WBD) released its earnings results on Thursday. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.30), Zacks reports. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion.

Warner Bros. Discovery Trading Up 4.8 %

WBD opened at $11.00 on Friday. Warner Bros. Discovery has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a market capitalization of $26.98 billion, a P/E ratio of -2.40, a PEG ratio of 8.64 and a beta of 1.49. The stock’s fifty day moving average is $10.31 and its two-hundred day moving average is $9.20. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WBD shares. Benchmark reaffirmed a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday. Rosenblatt Securities raised their target price on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. The Goldman Sachs Group raised their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Finally, Bank of America reissued a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.76.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the transaction, the insider now directly owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.80% 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.