Warner Bros. Discovery (NASDAQ:WBD) Given New $12.00 Price Target at Raymond James

Warner Bros. Discovery (NASDAQ:WBD) had its target price increased by Raymond James from $11.00 to $12.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price target would suggest a potential upside of 33.04% from the company’s previous close.

Other analysts have also recently issued reports about the company. Rosenblatt Securities restated a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. The Goldman Sachs Group raised their price objective on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Monday, October 7th. JPMorgan Chase & Co. lowered their target price on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Evercore ISI cut their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Morgan Stanley decreased their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $10.39.

Warner Bros. Discovery Stock Down 3.7 %

Shares of Warner Bros. Discovery stock traded down $0.35 during trading hours on Friday, reaching $9.02. 22,688,961 shares of the company were exchanged, compared to its average volume of 29,040,602. The firm has a market cap of $22.12 billion, a PE ratio of -1.88 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. Warner Bros. Discovery has a 1 year low of $6.64 and a 1 year high of $12.70. The stock’s fifty day moving average is $7.87 and its 200 day moving average is $7.83.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share 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 the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. Warner Bros. Discovery’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.17) EPS. As a group, equities research analysts forecast that Warner Bros. Discovery will post -4.51 earnings per share for the current year.

Institutional Investors Weigh In On Warner Bros. Discovery

Several institutional investors have recently made changes to their positions in WBD. Sessa Capital IM L.P. lifted its stake in shares of Warner Bros. Discovery by 28.8% in the second quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock valued at $169,520,000 after purchasing an additional 5,100,000 shares during the period. Retirement Systems of Alabama lifted its position in shares of Warner Bros. Discovery by 781.3% during the 2nd quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock valued at $32,115,000 after acquiring an additional 3,826,715 shares during the period. Mackenzie Financial Corp boosted its stake 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 worth $22,391,000 after acquiring an additional 2,780,986 shares in the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of Warner Bros. Discovery by 14.6% in the 1st quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock worth $180,016,000 after acquiring an additional 2,621,582 shares during the period. Finally, Drexel Morgan & Co. increased its stake in Warner Bros. Discovery by 43.5% in the 3rd quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock valued at $54,454,000 after purchasing an additional 2,000,000 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other 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.