Warner Bros. Discovery (NASDAQ:WBD) Issues Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Warner Bros. Discovery (NASDAQ:WBD) announced its earnings results on Thursday. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12, Briefing.com reports. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.17) EPS.

Warner Bros. Discovery Trading Down 2.3 %

Shares of NASDAQ WBD traded down $0.22 during midday trading on Friday, reaching $9.15. 33,426,863 shares of the stock were exchanged, compared to its average volume of 29,090,086. Warner Bros. Discovery has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a 50 day simple moving average of $7.87 and a 200 day simple moving average of $7.83. The stock has a market capitalization of $22.43 billion, a P/E ratio of -1.85 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.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Raymond James boosted their price target on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday. The Goldman Sachs Group increased their price objective on Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Monday, October 7th. Benchmark reissued a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft decreased their target price on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.50.

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.