Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $14.00 at KeyCorp

Warner Bros. Discovery (NASDAQ:WBD) had its price objective increased by KeyCorp from $11.00 to $14.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also issued research reports about the stock. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Sanford C. Bernstein lowered Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their price target for the company from $10.00 to $8.00 in a report on Tuesday, August 13th. Raymond James increased their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Rosenblatt Securities restated a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Finally, Barrington Research restated an “outperform” rating and set a $12.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, November 7th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Warner Bros. Discovery has an average rating of “Hold” and a consensus target price of $10.71.

Warner Bros. Discovery Price Performance

Shares of WBD stock opened at $10.89 on Tuesday. Warner Bros. Discovery has a one year low of $6.64 and a one year high of $12.70. 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 stock’s fifty day simple moving average is $8.87 and its 200 day simple moving average is $8.16. The firm has a market cap of $26.71 billion, a price-to-earnings ratio of -2.38 and a beta of 1.51.

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

Institutional Trading of Warner Bros. Discovery

A number of institutional investors have recently modified their holdings of the stock. State Street Corp raised its position in Warner Bros. Discovery by 4.1% during the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after purchasing an additional 5,898,611 shares in the last quarter. Sessa Capital IM L.P. boosted its stake in Warner Bros. Discovery by 24.7% in the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after buying an additional 5,625,545 shares in the last quarter. Retirement Systems of Alabama grew its position in Warner Bros. Discovery by 781.3% in the second quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock valued at $32,115,000 after acquiring an additional 3,826,715 shares during the last quarter. Mackenzie Financial Corp raised its stake in Warner Bros. Discovery by 1,216.7% during the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after acquiring an additional 2,780,986 shares in the last quarter. Finally, Drexel Morgan & Co. lifted its holdings in shares of Warner Bros. Discovery by 43.5% in the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock worth $54,454,000 after acquiring an additional 2,000,000 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

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.