Brokers Set Expectations for WBD Q3 Earnings

Key Points

• KeyCorp's analyst B. Nispel projects Warner Bros. Discovery will report a Q3 2025 earnings of ($0.05) per share, with a full-year estimate of ($4.33).
• Warner Bros. Discovery exceeded analysts' Q2 earnings expectations, reporting $0.63 per share against a consensus of ($0.16), with revenue increasing 1.0% year-over-year to $9.81 billion.
• Market analysts have varied ratings for Warner Bros. Discovery, with one "Strong Buy," seven "Buy," and fifteen "Hold" ratings, reflecting a consensus price target of $14.07.

Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) - Stock analysts at KeyCorp issued their Q3 2025 earnings estimates for Warner Bros. Discovery in a report issued on Thursday, September 25th. KeyCorp analyst B. Nispel anticipates that the company will earn ($0.05) per share for the quarter. KeyCorp currently has a "Sector Weight" rating on the stock. The consensus estimate for Warner Bros. Discovery's current full-year earnings is ($4.33) per share. KeyCorp also issued estimates for Warner Bros. Discovery's Q4 2025 earnings at ($0.01) EPS, Q1 2026 earnings at ($0.17) EPS, Q2 2026 earnings at ($0.01) EPS, Q3 2026 earnings at ($0.06) EPS and Q4 2026 earnings at $0.02 EPS.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.79. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The firm had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same quarter in the prior year, the business earned ($4.07) earnings per share. Warner Bros. Discovery's revenue for the quarter was up 1.0% on a year-over-year basis.

A number of other equities analysts have also weighed in on the stock. UBS Group upped their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Guggenheim restated a "buy" rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Huber Research upgraded shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research report on Monday, June 9th. Wells Fargo & Company upped their target price on shares of Warner Bros. Discovery from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 11th. Finally, Benchmark restated a "buy" rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and fifteen have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $14.07.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $19.51 on Monday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a fifty day moving average price of $13.85 and a 200 day moving average price of $11.24. Warner Bros. Discovery has a fifty-two week low of $7.25 and a fifty-two week high of $20.24. The firm has a market cap of $48.30 billion, a price-to-earnings ratio of 65.04, a P/E/G ratio of 2.54 and a beta of 1.59.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC increased its stake in Warner Bros. Discovery by 15.9% in the 2nd quarter. Corient Private Wealth LLC now owns 298,170 shares of the company's stock worth $3,417,000 after buying an additional 40,872 shares during the period. Osaic Holdings Inc. increased its stake in Warner Bros. Discovery by 90.7% in the 2nd quarter. Osaic Holdings Inc. now owns 640,286 shares of the company's stock worth $7,335,000 after buying an additional 304,575 shares during the period. Orion Porfolio Solutions LLC increased its stake in Warner Bros. Discovery by 8.9% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 30,988 shares of the company's stock worth $355,000 after buying an additional 2,526 shares during the period. Thrivent Financial for Lutherans increased its stake in Warner Bros. Discovery by 52.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 6,963,870 shares of the company's stock worth $79,805,000 after buying an additional 2,407,202 shares during the period. Finally, Marex Group plc purchased a new position in Warner Bros. Discovery in the 2nd quarter worth about $235,000. Hedge funds and other institutional investors own 59.95% of the company's stock.

Insider Activity at Warner Bros. Discovery

In other news, insider Bruce Campbell sold 150,000 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $18.00, for a total value of $2,700,000.00. Following the sale, the insider owned 252,464 shares of the company's stock, valued at approximately $4,544,352. This represents a 37.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anton J. Levy bought 75,000 shares of Warner Bros. Discovery stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average cost of $11.00 per share, for a total transaction of $825,000.00. Following the purchase, the director owned 949,000 shares of the company's stock, valued at approximately $10,439,000. This trade represents a 8.58% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 970,115 shares of company stock valued at $17,818,490 over the last 90 days. 1.80% of the stock is owned by corporate insiders.

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.

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