Warner Bros. Discovery (NASDAQ:WBD) PT Lowered to $9.00 at Moffett Nathanson

Warner Bros. Discovery (NASDAQ:WBD) had its price target cut by equities research analysts at Moffett Nathanson from $10.00 to $9.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Moffett Nathanson’s target price points to a potential upside of 28.39% from the stock’s previous close.

A number of other equities analysts also recently issued reports on WBD. Deutsche Bank Aktiengesellschaft dropped their price target on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday. Wolfe Research downgraded Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price target on the stock. in a research report on Tuesday, April 23rd. KeyCorp upgraded Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price objective for the company in a research note on Friday, May 10th. Barrington Research restated an “outperform” rating and set a $12.00 price objective on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. Finally, Morgan Stanley decreased their price objective on 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 analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.40.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD traded down $0.70 during trading on Thursday, hitting $7.01. 51,427,355 shares of the company’s stock were exchanged, compared to its average volume of 28,576,645. The business’s 50-day simple moving average is $7.79 and its 200 day simple moving average is $8.43. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. Warner Bros. Discovery has a 52-week low of $6.75 and a 52-week high of $14.76. The company has a market cap of $17.18 billion, a price-to-earnings ratio of -5.69 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The firm had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The business’s revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.51) EPS. As a group, equities analysts predict that Warner Bros. Discovery will post -0.44 EPS for the current year.

Institutional Trading of Warner Bros. Discovery

Several institutional investors and hedge funds have recently added to or reduced their stakes in WBD. American Century Companies Inc. raised its stake in shares of Warner Bros. Discovery by 4.3% during the 2nd quarter. American Century Companies Inc. now owns 454,013 shares of the company’s stock worth $3,378,000 after buying an additional 18,888 shares in the last quarter. Fore Capital LLC increased its stake in Warner Bros. Discovery by 30.6% in the 2nd quarter. Fore Capital LLC now owns 64,000 shares of the company’s stock valued at $476,000 after purchasing an additional 15,000 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Warner Bros. Discovery by 3.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 524,824 shares of the company’s stock valued at $3,905,000 after purchasing an additional 16,429 shares in the last quarter. Royal London Asset Management Ltd. increased its stake in Warner Bros. Discovery by 4.0% in the 2nd quarter. Royal London Asset Management Ltd. now owns 908,802 shares of the company’s stock valued at $6,761,000 after purchasing an additional 34,696 shares in the last quarter. Finally, Choreo LLC increased its stake in Warner Bros. Discovery by 63.2% in the 2nd quarter. Choreo LLC now owns 35,049 shares of the company’s stock valued at $249,000 after purchasing an additional 13,577 shares in the last quarter. 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.