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

Warner Bros. Discovery (NASDAQ:WBD) had its price target boosted by Macquarie from $8.00 to $9.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

WBD has been the topic of a number of other reports. Sanford C. Bernstein downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $10.00 to $8.00 in a report on Tuesday, August 13th. Morgan Stanley cut their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Benchmark reiterated a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. TD Cowen cut their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $9.00 target price on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.55.

Warner Bros. Discovery Stock Up 1.6 %

Warner Bros. Discovery stock opened at $9.33 on Friday. The firm has a market capitalization of $22.88 billion, a price-to-earnings ratio of -2.04 and a beta of 1.48. The company’s 50 day simple moving average is $7.93 and its 200 day simple moving average is $7.83. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.76. Warner Bros. Discovery has a fifty-two week low of $6.64 and a fifty-two 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 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period last year, the business posted ($0.17) earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Warner Bros. Discovery will post -4.55 EPS for the current year.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of large investors have recently added to or reduced their stakes in the stock. Sessa Capital IM L.P. increased its stake in 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 valued at $169,520,000 after acquiring an additional 5,100,000 shares during the last quarter. EdgePoint Investment Group Inc. increased its holdings in 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 valued at $155,165,000 after purchasing an additional 235,192 shares during the period. Bank of New York Mellon Corp raised its position in shares of Warner Bros. Discovery by 5.3% during 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 acquiring an additional 719,869 shares during the last quarter. Yacktman Asset Management LP lifted its position in shares of Warner Bros. Discovery by 1.2% in the 2nd quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock worth $60,654,000 after purchasing an additional 100,565 shares during the period. Finally, Thompson Siegel & Walmsley LLC raised its position in shares of Warner Bros. Discovery by 23.9% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock worth $56,116,000 after acquiring an additional 1,452,913 shares in the last quarter. Institutional investors and hedge funds 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.