Warner Bros. Discovery (NASDAQ:WBD) Price Target Cut to $10.00 by Analysts at Morgan Stanley

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) had its price objective reduced by research analysts at Morgan Stanley from $12.00 to $10.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price objective points to a potential upside of 8.81% from the stock's previous close.

Several other brokerages also recently commented on WBD. Wells Fargo & Company lowered their price objective on Warner Bros. Discovery from $11.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Citigroup boosted 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. Rosenblatt Securities restated a "neutral" rating and issued a $13.00 price target on shares of Warner Bros. Discovery in a report on Friday, March 7th. Finally, Moffett Nathanson upgraded shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and raised their price target for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of "Moderate Buy" and a consensus price target of $12.17.

Warner Bros. Discovery Trading Up 2.0 %

WBD stock traded up $0.18 during trading on Tuesday, reaching $9.19. The company had a trading volume of 9,942,711 shares, compared to its average volume of 37,817,789. The company has a market cap of $22.56 billion, a P/E ratio of -2.01, a PEG ratio of 8.64 and a beta of 1.46. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50 day moving average of $9.39 and a 200 day moving average of $9.81. Warner Bros. Discovery has a 52 week low of $6.64 and a 52 week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $9.66 billion. During the same quarter in the prior year, the business posted ($0.40) earnings per share. The firm's revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, sell-side analysts forecast 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 business's stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $11.41 per share, with a total value of $197,917.86. Following the acquisition, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company's stock.

Institutional Trading of Warner Bros. Discovery

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its holdings in shares of Warner Bros. Discovery by 3.1% during the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company's stock valued at $21,281,000 after buying an additional 78,653 shares in the last quarter. Coronation Fund Managers Ltd. grew its stake in Warner Bros. Discovery by 54.1% in the 4th quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company's stock valued at $59,660,000 after buying an additional 1,981,050 shares during the last quarter. Prudential PLC grew its holdings in Warner Bros. Discovery by 31.1% in the 4th quarter. Prudential PLC now owns 135,163 shares of the company's stock valued at $1,429,000 after buying an additional 32,102 shares during the last quarter. SVB Wealth LLC bought a new stake in Warner Bros. Discovery in the 4th quarter valued at $168,000. Finally, Natixis Advisors LLC lifted its position in shares of Warner Bros. Discovery by 3.6% in the 4th quarter. Natixis Advisors LLC now owns 291,006 shares of the company's stock worth $3,076,000 after acquiring an additional 10,024 shares during the period. 59.95% of the stock is currently owned by 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.