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

Key Points

• Raymond James Financial has lowered its target price for Warner Bros. Discovery from $14.00 to $13.00 while maintaining an "outperform" rating, suggesting a potential upside of 15.20% from the stock's previous close.
• Warner Bros. Discovery's stock has recently traded down by 4.8%, closing at $11.29 amid concerns over its financial metrics, including a negative net margin of 28.16% and a PE ratio of -2.56.
• Analysts hold a mixed outlook for the stock, with twelve rating it as a hold, eleven as buy, and one as strong buy, leading to an average rating of "Moderate Buy" and a consensus target price of $12.81.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) had its price target lowered by stock analysts at Raymond James Financial from $14.00 to $13.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Raymond James Financial's target price suggests a potential upside of 17.70% from the stock's previous close.

WBD has been the topic of several other reports. Bank of America lifted their price objective on Warner Bros. Discovery from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Morgan Stanley boosted their price target on Warner Bros. Discovery from $10.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Wells Fargo & Company boosted their price target on Warner Bros. Discovery from $11.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Friday. Barclays boosted their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Finally, Argus raised Warner Bros. Discovery to a "hold" rating in a research report on Tuesday, May 27th. Twelve analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $12.84.

Warner Bros. Discovery Stock Up 2.5%

Warner Bros. Discovery stock traded up $0.27 during trading hours on Friday, hitting $11.05. 3,538,876 shares of the stock traded hands, compared to its average volume of 46,733,879. The firm's 50-day moving average price is $11.53 and its two-hundred day moving average price is $10.33. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The company has a market cap of $27.11 billion, a PE ratio of 36.68 and a beta of 1.57. Warner Bros. Discovery has a one year low of $6.64 and a one year high of $13.86.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.79. The business had revenue of $9.81 billion for the quarter, compared to analysts' expectations of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%. The business's revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($4.07) EPS. On average, research analysts forecast that Warner Bros. Discovery will post -4.33 EPS for the current year.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of hedge funds have recently added to or reduced their stakes in WBD. Independent Franchise Partners LLP purchased a new stake in Warner Bros. Discovery during the 1st quarter valued at $140,224,000. FMR LLC raised its stake in Warner Bros. Discovery by 478.5% during the 4th quarter. FMR LLC now owns 14,278,600 shares of the company's stock valued at $150,925,000 after buying an additional 11,810,191 shares during the last quarter. Nuveen LLC purchased a new stake in Warner Bros. Discovery during the 1st quarter valued at $96,971,000. Sound Shore Management Inc CT purchased a new stake in Warner Bros. Discovery during the 2nd quarter valued at $97,951,000. Finally, Slate Path Capital LP raised its stake in Warner Bros. Discovery by 36.6% during the 4th quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock valued at $251,577,000 after buying an additional 6,381,000 shares during the last quarter. 59.95% of the stock is currently 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.