Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $13.00

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) had its target price upped by research analysts at Barclays from $9.00 to $13.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's price target would suggest a potential upside of 11.59% from the stock's previous close.

WBD has been the topic of several other research reports. Wells Fargo & Company upped their price objective on shares of Warner Bros. Discovery from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. Citigroup reduced their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Morgan Stanley reduced their price objective on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Barrington Research reaffirmed an "outperform" rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research report on Monday, June 9th. Finally, Raymond James Financial dropped their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, April 4th. Twelve research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $12.41.

Warner Bros. Discovery Stock Performance

NASDAQ WBD traded up $0.16 during trading on Wednesday, reaching $11.65. The company's stock had a trading volume of 40,823,947 shares, compared to its average volume of 36,709,554. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $28.60 billion, a price-to-earnings ratio of -2.65 and a beta of 1.54. Warner Bros. Discovery has a twelve month low of $6.64 and a twelve month high of $12.70. The business's fifty day moving average price is $9.94 and its 200-day moving average price is $9.95.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). The firm 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 30.56% and a negative net margin of 28.16%. The company's revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.40) earnings per share. As a group, analysts anticipate that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Colonial Trust Advisors grew its position in shares of Warner Bros. Discovery by 71.8% in the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after acquiring an additional 996 shares during the period. WPG Advisers LLC acquired a new stake in shares of Warner Bros. Discovery during the 1st quarter worth about $26,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Warner Bros. Discovery during the 1st quarter worth about $27,000. North Capital Inc. acquired a new stake in shares of Warner Bros. Discovery during the 1st quarter worth about $28,000. Finally, Graney & King LLC acquired a new stake in shares of Warner Bros. Discovery during the 4th quarter worth about $28,000. Institutional investors 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.