Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $9.00 at Macquarie

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

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley reduced 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 research report on Monday, July 29th. Benchmark reiterated a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Sanford C. Bernstein cut shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $10.00 to $8.00 in a research report on Tuesday, August 13th. The Goldman Sachs Group lifted 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 report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Stock Down 2.0 %

NASDAQ WBD traded down $0.19 on Friday, reaching $9.18. 52,663,437 shares of the stock were exchanged, compared to its average volume of 24,571,940. Warner Bros. Discovery has a one year low of $6.64 and a one year high of $12.70. The company’s 50-day simple moving average is $7.90 and its two-hundred day simple moving average is $7.84. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results 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 29.47% and a negative return on equity of 27.28%. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter last year, the business earned ($0.17) EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts expect that Warner Bros. Discovery will post -4.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WBD. Sessa Capital IM L.P. boosted its stake in shares of Warner Bros. Discovery by 28.8% during 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 purchasing an additional 5,100,000 shares during the period. EdgePoint Investment Group Inc. boosted its stake in shares of Warner Bros. Discovery by 1.1% during 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 boosted its stake 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 valued at $105,595,000 after purchasing an additional 719,869 shares during the period. Yacktman Asset Management LP boosted its stake in shares of Warner Bros. Discovery by 1.2% during the second quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock valued at $60,654,000 after purchasing an additional 100,565 shares during the period. Finally, Thompson Siegel & Walmsley LLC boosted its stake in shares of Warner Bros. Discovery by 23.9% during the second quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock valued at $56,116,000 after purchasing an additional 1,452,913 shares during the period. 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.