Seaport Res Ptn Analysts Cut Earnings Estimates for Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Warner Bros. Discovery, Inc. (NASDAQ:WBD) – Seaport Res Ptn lowered their Q3 2024 earnings estimates for Warner Bros. Discovery in a report issued on Tuesday, October 1st. Seaport Res Ptn analyst D. Joyce now forecasts that the company will earn ($0.16) per share for the quarter, down from their previous estimate of ($0.09). The consensus estimate for Warner Bros. Discovery’s current full-year earnings is ($4.17) per share. Seaport Res Ptn also issued estimates for Warner Bros. Discovery’s Q4 2024 earnings at $0.01 EPS, FY2024 earnings at ($4.62) EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at ($0.21) EPS, Q3 2025 earnings at ($0.13) EPS, Q4 2025 earnings at $0.08 EPS and FY2025 earnings at ($0.39) EPS.

Several other analysts have also recently weighed in on the stock. Macquarie reduced their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Wells Fargo & Company reduced their target price on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $9.00 target price on shares of Warner Bros. Discovery in a report on Friday, September 13th. Barrington Research reaffirmed an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a report on Tuesday, July 23rd. Finally, Sanford C. Bernstein cut shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $10.00 to $8.00 in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Hold” and an average price target of $10.73.

Warner Bros. Discovery Stock Up 0.5 %

Shares of NASDAQ:WBD opened at $7.78 on Friday. The firm’s 50 day moving average price is $7.83 and its 200 day moving average price is $7.94. The stock has a market cap of $19.06 billion, a price-to-earnings ratio of -6.27 and a beta of 1.48. Warner Bros. Discovery has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. 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 (NASDAQ:WBD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The business 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 27.28% and a negative net margin of 29.47%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.51) EPS.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of hedge funds have recently modified their holdings of the business. KBC Group NV grew its position in Warner Bros. Discovery by 43.4% in the 4th quarter. KBC Group NV now owns 690,318 shares of the company’s stock valued at $7,856,000 after buying an additional 208,952 shares during the last quarter. Belpointe Asset Management LLC grew its position in Warner Bros. Discovery by 16.0% in the 4th quarter. Belpointe Asset Management LLC now owns 12,257 shares of the company’s stock valued at $139,000 after buying an additional 1,694 shares during the last quarter. Royal London Asset Management Ltd. grew its position in Warner Bros. Discovery by 5.5% in the 4th quarter. Royal London Asset Management Ltd. now owns 884,252 shares of the company’s stock valued at $10,063,000 after buying an additional 46,335 shares during the last quarter. First Trust Advisors LP grew its position in Warner Bros. Discovery by 23.0% in the 4th quarter. First Trust Advisors LP now owns 3,522,213 shares of the company’s stock valued at $40,083,000 after buying an additional 658,840 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Warner Bros. Discovery by 175.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 436,684 shares of the company’s stock valued at $4,969,000 after buying an additional 277,874 shares during the last quarter. 59.95% of the stock is currently 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.