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Warner Bros. Discovery (NASDAQ:WBD) Given New $13.00 Price Target at Barclays

Warner Bros. Discovery logo with Consumer Discretionary background

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) had its target price upped by equities researchers at Barclays from $9.00 to $13.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's price target suggests a potential upside of 11.54% from the company's current price.

WBD has been the subject of several other reports. UBS Group boosted their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday. Huber Research raised shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. Morgan Stanley reduced their target price on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Guggenheim reaffirmed a "buy" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Finally, Wells Fargo & Company upped their target price on shares of Warner Bros. Discovery from $10.00 to $11.00 and gave the company an "equal weight" rating in a report on Wednesday, July 2nd. Twelve investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $12.41.

Check Out Our Latest Research Report on WBD

Warner Bros. Discovery Trading Up 2.1%

Shares of WBD traded up $0.25 during trading hours on Wednesday, reaching $11.66. 26,796,981 shares of the company traded hands, compared to its average volume of 36,549,566. The company's fifty day moving average price is $9.89 and its two-hundred day moving average price is $9.94. The company has a market capitalization of $28.61 billion, a price-to-earnings ratio of -2.65 and a beta of 1.54. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99. Warner Bros. Discovery has a 12 month low of $6.64 and a 12 month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) EPS 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 the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.40) EPS. Equities research analysts predict that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Colonial Trust Advisors lifted its position in 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. WPG Advisers LLC bought a new position in Warner Bros. Discovery during the first quarter valued at $26,000. Financial Gravity Asset Management Inc. bought a new position in Warner Bros. Discovery during the first quarter valued at $27,000. Graney & King LLC bought a new position in Warner Bros. Discovery during the fourth quarter valued at $28,000. Finally, North Capital Inc. bought a new position in Warner Bros. Discovery during the first quarter valued at $28,000. Institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Warner Bros. Discovery (NASDAQ:WBD)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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