Warner Bros. Discovery (NASDAQ:WBD) Given New $10.00 Price Target at Barclays

Warner Bros. Discovery (NASDAQ:WBD) had its price objective increased by Barclays from $8.00 to $10.00 in a research note published on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other analysts have also recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Raymond James lifted their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday. Barrington Research reaffirmed an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a research note on Thursday. Macquarie lowered their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Finally, Evercore ISI decreased their price target 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. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Trading Down 2.0 %

Shares of WBD traded down $0.19 during mid-day trading on Friday, reaching $9.18. 52,663,437 shares of the company’s stock were exchanged, compared to its average volume of 24,571,940. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. 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 52-week low of $6.64 and a 52-week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data 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. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same period last year, the company posted ($0.17) EPS. The company’s revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts predict that Warner Bros. Discovery will post -4.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Warner Bros. Discovery

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Family Firm Inc. purchased a new position in Warner Bros. Discovery in the 2nd quarter valued at about $26,000. Crewe Advisors LLC acquired a new stake in shares of Warner Bros. Discovery in the 1st quarter valued at about $27,000. OFI Invest Asset Management raised its stake in shares of Warner Bros. Discovery by 45.9% in 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 raised its stake in shares of Warner Bros. Discovery by 665.4% in 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 stake in shares of Warner Bros. Discovery in the 1st quarter valued at about $39,000. 59.95% of the stock is owned by hedge funds and other 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.