Warner Bros. Discovery (NASDAQ:WBD) PT Lowered to $9.00 at Moffett Nathanson

Warner Bros. Discovery (NASDAQ:WBD) had its price target reduced by research analysts at Moffett Nathanson from $10.00 to $9.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Moffett Nathanson’s price target would indicate a potential upside of 28.39% from the stock’s previous close.

A number of other analysts also recently issued reports on WBD. Benchmark lowered their price objective on shares of Warner Bros. Discovery from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday. Wolfe Research downgraded shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective on the stock. in a report on Tuesday, April 23rd. Morgan Stanley lowered their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday. Finally, The Goldman Sachs Group lowered their target price on shares of Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $11.40.

Warner Bros. Discovery Stock Down 9.1 %

WBD stock traded down $0.70 during mid-day trading on Thursday, hitting $7.01. 51,427,355 shares of the company were exchanged, compared to its average volume of 28,576,645. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $17.18 billion, a P/E ratio of -5.69 and a beta of 1.49. The firm’s 50 day simple moving average is $7.79 and its 200 day simple moving average is $8.43. Warner Bros. Discovery has a 1-year low of $6.75 and a 1-year high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The company had revenue of $9.71 billion for the quarter, compared to analyst estimates of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.51) earnings per share. On average, sell-side analysts predict that Warner Bros. Discovery will post -0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Warner Bros. Discovery

Several institutional investors and hedge funds have recently bought and sold shares of WBD. Family Firm Inc. acquired a new position in Warner Bros. Discovery during the second quarter worth about $26,000. Crewe Advisors LLC acquired a new position in Warner Bros. Discovery during the first quarter worth about $27,000. OFI Invest Asset Management raised its stake in Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after acquiring an additional 1,221 shares in the last quarter. First Financial Corp IN raised its stake in Warner Bros. Discovery by 577.4% during the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after acquiring an additional 2,887 shares in the last quarter. Finally, University of Texas Texas AM Investment Managment Co. acquired a new position in Warner Bros. Discovery during the fourth quarter worth about $33,000. Institutional investors 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.