Warner Bros. Discovery (NASDAQ:WBD) Stock Price Expected to Rise, Macquarie Analyst Says

Warner Bros. Discovery (NASDAQ:WBD) had its price objective lifted by research analysts at Macquarie from $8.00 to $9.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Macquarie’s price objective would indicate a potential downside of 1.96% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company dropped their target price on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Sanford C. Bernstein cut shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $10.00 to $8.00 in a report on Tuesday, August 13th. Evercore ISI dropped their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. TD Cowen dropped their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery presently has an average rating of “Hold” and a consensus price target of $10.55.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD traded down $0.19 on Friday, reaching $9.18. 52,502,078 shares of the company’s stock were exchanged, compared to its average volume of 29,176,777. The firm has a market capitalization of $22.51 billion, a price-to-earnings ratio of -1.91 and a beta of 1.48. Warner Bros. Discovery has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The business’s 50-day moving average is $7.87 and its two-hundred day moving average is $7.83. 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 issued its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The company had revenue of $9.62 billion for 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 was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.17) earnings per share. As a group, equities research analysts forecast that Warner Bros. Discovery will post -4.51 EPS for the current year.

Hedge Funds Weigh In On Warner Bros. Discovery

Large investors have recently made changes to their positions in the business. Family Firm Inc. bought a new position in shares of Warner Bros. Discovery during the 2nd quarter valued at about $26,000. Crewe Advisors LLC bought a new position in shares of Warner Bros. Discovery during the 1st quarter valued at about $27,000. OFI Invest Asset Management boosted its position in shares of Warner Bros. Discovery by 45.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after purchasing an additional 1,221 shares in the last quarter. Transcendent Capital Group LLC boosted its position in shares of Warner Bros. Discovery by 665.4% during the 1st quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock valued at $35,000 after purchasing an additional 3,480 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Warner Bros. Discovery in the first quarter worth about $39,000. 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.