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

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.

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

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.

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