Warner Bros. Discovery (NASDAQ:WBD) Posts Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Warner Bros. Discovery (NASDAQ:WBD) issued its quarterly earnings results on Thursday. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12, Briefing.com reports. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.17) EPS.

Warner Bros. Discovery Stock Down 2.0 %

Shares of NASDAQ WBD opened at $9.18 on Friday. The firm has a market cap of $22.51 billion, a price-to-earnings ratio of -1.91 and a beta of 1.48. The company’s 50-day simple moving average is $7.90 and its 200-day simple moving average is $7.83. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. Warner Bros. Discovery has a 52-week low of $6.64 and a 52-week high of $12.70.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WBD shares. Macquarie increased their price target on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday. Barclays raised their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday. TD Cowen lowered their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Moffett Nathanson cut their price target on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. decreased their price objective on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Hold” and an average target price of $10.55.

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.