Warner Bros. Discovery (NASDAQ:WBD) Given New $9.00 Price Target at Barclays

Warner Bros. Discovery (NASDAQ:WBD) had its price objective increased by Barclays from $7.00 to $9.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research analysts also recently commented on the company. Raymond James lowered their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, April 4th. Morgan Stanley lowered their price target on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday. Citigroup lifted their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Wells Fargo & Company decreased their target price on shares of Warner Bros. Discovery from $11.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Finally, Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.22.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $9.04 on Friday. Warner Bros. Discovery has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a market cap of $22.19 billion, a price-to-earnings ratio of -1.97, a PEG ratio of 8.64 and a beta of 1.46. The stock has a 50 day moving average of $9.35 and a 200-day moving average of $9.82.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The business had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 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 revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.40) EPS. As a group, analysts forecast that Warner Bros. Discovery will post -4.33 EPS for the current year.

Insiders Place Their Bets

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the acquisition, the director now owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Colonial Trust Advisors lifted its holdings in shares of Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after purchasing an additional 996 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in Warner Bros. Discovery during the 4th quarter worth about $26,000. SRS Capital Advisors Inc. lifted its stake in Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after buying an additional 1,940 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new position in shares of Warner Bros. Discovery in the first quarter worth about $27,000. Finally, Graney & King LLC purchased a new position in shares of Warner Bros. Discovery in the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

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.