Warner Bros. Discovery (NASDAQ:WBD) Price Target Lowered to $13.00 at Raymond James

Warner Bros. Discovery (NASDAQ:WBD) had its target price lowered by Raymond James from $14.00 to $13.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. Rosenblatt Securities reiterated a “neutral” rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, March 7th. JPMorgan Chase & Co. lifted their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Bank of America reissued a “buy” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, December 12th. The Goldman Sachs Group lifted their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price target for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.96.

Warner Bros. Discovery Trading Down 11.9 %

Shares of NASDAQ:WBD opened at $8.07 on Friday. The business’s 50-day moving average is $10.50 and its 200 day moving average is $9.76. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery has a 1 year low of $6.64 and a 1 year high of $12.70. The firm has a market capitalization of $19.81 billion, a P/E ratio of -1.76, a P/E/G ratio of 8.64 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.30). The company had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. On average, research analysts predict that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, with a total value of $197,917.86. Following the purchase, the director now owns 159,932 shares of the company’s stock, valued at $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Warner Bros. Discovery

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Colonial Trust Advisors raised its position in shares of Warner Bros. Discovery by 71.8% during the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after purchasing an additional 996 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. lifted its position in shares of Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after acquiring an additional 1,940 shares in the last quarter. Graney & King LLC acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $28,000. Finally, Ethos Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter worth approximately $29,000. 59.95% of the stock is owned by hedge funds and other 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.