Warner Bros. Discovery (NASDAQ:WBD) Given New $13.00 Price Target at Rosenblatt Securities

Warner Bros. Discovery (NASDAQ:WBD) had its price objective boosted by stock analysts at Rosenblatt Securities from $9.00 to $13.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Rosenblatt Securities’ price target points to a potential upside of 7.71% from the company’s current price.

WBD has been the topic of several other reports. Barrington Research reissued an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a report on Friday. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Benchmark restated a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Finally, Bank of America reiterated a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery has an average rating of “Hold” and an average price target of $11.33.

Warner Bros. Discovery Trading Down 3.4 %

Shares of NASDAQ:WBD opened at $12.07 on Friday. The business’s 50 day simple moving average is $9.11 and its 200 day simple moving average is $8.24. Warner Bros. Discovery has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $29.61 billion, a P/E ratio of -2.64 and a beta of 1.52.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.17) EPS. On average, research analysts anticipate that Warner Bros. Discovery will post -4.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Warner Bros. Discovery

Hedge funds have recently made changes to their positions in the stock. Family Firm Inc. acquired a new position in Warner Bros. Discovery in the second quarter valued at $26,000. OFI Invest Asset Management raised its position in shares of Warner Bros. Discovery by 45.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after acquiring an additional 1,221 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at about $41,000. Larson Financial Group LLC lifted its stake in shares of Warner Bros. Discovery by 54.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after purchasing an additional 1,754 shares during the period. Finally, Quarry LP boosted its position in shares of Warner Bros. Discovery by 2,185.1% during the 2nd quarter. Quarry LP now owns 6,307 shares of the company’s stock valued at $47,000 after purchasing an additional 6,031 shares in the last quarter. 59.95% of the stock is currently owned by 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.