Barclays Boosts Warner Bros. Discovery (NASDAQ:WBD) Price Target to $10.00

Warner Bros. Discovery (NASDAQ:WBD) had its target price increased by equities research analysts at Barclays from $8.00 to $10.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 8.93% from the stock’s previous close.

WBD has been the subject of several other research reports. TD Cowen cut their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Wells Fargo & Company cut their price objective on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. The Goldman Sachs Group lifted their target price on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Evercore ISI cut their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company 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 on the stock in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.55.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $9.18 on Friday. 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 1.06, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $22.51 billion, a price-to-earnings ratio of -1.91 and a beta of 1.48. The company’s fifty day moving average price is $7.90 and its 200-day moving average price is $7.83.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. On average, equities research analysts anticipate that Warner Bros. Discovery will post -4.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of large investors have recently modified their holdings of WBD. Private Management Group Inc. boosted its position in shares of Warner Bros. Discovery by 37.7% during the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock valued at $56,811,000 after purchasing an additional 1,886,868 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Warner Bros. Discovery by 1,216.7% during the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after buying an additional 2,780,986 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Warner Bros. Discovery by 629.4% in the 3rd quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock worth $1,561,000 after buying an additional 163,295 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Warner Bros. Discovery by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 599,957 shares of the company’s stock worth $5,028,000 after acquiring an additional 105,321 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Warner Bros. Discovery by 31.0% during the 1st quarter. Janus Henderson Group PLC now owns 314,948 shares of the company’s stock valued at $2,751,000 after acquiring an additional 74,587 shares during the period. Institutional investors own 59.95% of the company’s stock.

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.