Guggenheim Boosts Warner Bros. Discovery (NASDAQ:WBD) Price Target to $12.50

Warner Bros. Discovery (NASDAQ:WBD) had its price objective upped by Guggenheim from $11.00 to $12.50 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective indicates a potential upside of 3.56% from the company’s current price.

Several other equities analysts also recently issued reports on WBD. The Goldman Sachs Group upped their price objective on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Monday, October 7th. Macquarie upped their price objective on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Raymond James upped their price objective on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Rosenblatt Securities reissued a “neutral” rating and set a $9.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Hold” and a consensus target price of $11.33.

Warner Bros. Discovery Stock Down 3.4 %

Shares of NASDAQ WBD opened at $12.07 on Thursday. Warner Bros. Discovery has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a market capitalization of $29.61 billion, a PE ratio of -2.64 and a beta of 1.52. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The firm’s 50-day moving average is $9.11 and its two-hundred day moving average is $8.24.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts anticipate that Warner Bros. Discovery will post -4.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Warner Bros. Discovery

Large investors have recently made changes to their positions in the business. Family Firm Inc. acquired a new stake in Warner Bros. Discovery during the 2nd quarter valued at $26,000. OFI Invest Asset Management grew its holdings in 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. Larson Financial Group LLC grew its holdings in Warner Bros. Discovery by 54.1% during the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after purchasing an additional 1,754 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Warner Bros. Discovery during the 3rd quarter valued at $41,000. Finally, Brooklyn Investment Group acquired a new stake in Warner Bros. Discovery during the 3rd quarter valued at $51,000. Institutional investors and hedge funds 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.