Raymond James Boosts Warner Bros. Discovery (NASDAQ:WBD) Price Target to $12.00

Warner Bros. Discovery (NASDAQ:WBD) had its target price upped by Raymond James from $11.00 to $12.00 in a report issued on Friday morning,Benzinga reports. Raymond James currently has an outperform rating on the stock.

Several other research firms also recently weighed in on WBD. Macquarie lowered their target price on Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Rosenblatt Securities restated a “neutral” rating and issued a $9.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Benchmark restated a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Barrington Research restated an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, November 7th. Finally, Wells Fargo & Company lowered their price objective on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.55.

Warner Bros. Discovery Price Performance

NASDAQ WBD opened at $9.33 on Friday. The company has a market capitalization of $22.88 billion, a PE ratio of -2.04 and a beta of 1.48. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.76 and a current ratio of 0.80. The business’s fifty day moving average is $7.93 and its 200 day moving average is $7.83. Warner Bros. Discovery has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Warner Bros. Discovery’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.17) earnings per share. Sell-side analysts predict that Warner Bros. Discovery will post -4.55 earnings per share for the current year.

Institutional Investors Weigh In On Warner Bros. Discovery

Several large investors have recently added to or reduced their stakes in WBD. Texas Permanent School Fund Corp increased its stake in Warner Bros. Discovery by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 458,382 shares of the company’s stock worth $4,002,000 after acquiring an additional 5,830 shares during the last quarter. Empirical Finance LLC grew its stake in shares of Warner Bros. Discovery by 3.5% during the first quarter. Empirical Finance LLC now owns 79,751 shares of the company’s stock valued at $696,000 after buying an additional 2,713 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Warner Bros. Discovery during the first quarter valued at approximately $457,000. Empowered Funds LLC grew its stake in shares of Warner Bros. Discovery by 124.5% during the first quarter. Empowered Funds LLC now owns 52,891 shares of the company’s stock valued at $462,000 after buying an additional 29,330 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Warner Bros. Discovery by 1.0% during the first quarter. Oppenheimer & Co. Inc. now owns 380,578 shares of the company’s stock valued at $3,322,000 after buying an additional 3,818 shares during the last quarter. 59.95% of the stock is owned by institutional investors.

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.