Barclays Increases Warner Bros. Discovery (NASDAQ:WBD) Price Target 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 issued on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price target would suggest a potential upside of 10.83% from the stock's previous close.

Other equities research analysts have also recently issued reports about the company. Argus raised Warner Bros. Discovery to a "hold" rating in a research note on Tuesday, May 27th. Wells Fargo & Company boosted their price objective on Warner Bros. Discovery from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 2nd. Citigroup reduced their price objective on 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. Barrington Research reissued an "outperform" rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, June 9th. Finally, Bank of America upped their target price on Warner Bros. Discovery from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.41.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD traded up $0.08 during mid-day trading on Wednesday, reaching $11.73. The stock had a trading volume of 70,357,511 shares, compared to its average volume of 36,975,244. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.99. The company has a market cap of $28.79 billion, a P/E ratio of -2.67 and a beta of 1.54. Warner Bros. Discovery has a 1 year low of $6.64 and a 1 year high of $12.70. The business's 50 day moving average price is $10.07 and its 200 day moving average price is $9.97.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). The firm had revenue of $8.98 billion during the quarter, compared to analysts' expectations of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. Warner Bros. Discovery's quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. Research analysts expect that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

Institutional Trading of Warner Bros. Discovery

Hedge funds and other institutional investors have recently made changes to their positions in the business. Colonial Trust Advisors raised its stake in Warner Bros. Discovery by 71.8% in the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock worth $25,000 after acquiring an additional 996 shares during the last quarter. WPG Advisers LLC purchased a new position in Warner Bros. Discovery in the 1st quarter worth $26,000. Financial Gravity Asset Management Inc. purchased a new position in Warner Bros. Discovery in the 1st quarter worth $27,000. North Capital Inc. purchased a new position in Warner Bros. Discovery in the 1st quarter worth $28,000. Finally, Graney & King LLC purchased a new position in Warner Bros. Discovery in the 4th quarter worth $28,000. Hedge funds and other 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.