Warner Bros. Discovery (NASDAQ:WBD) Price Target Lowered to $14.00 at Citigroup

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) had its target price dropped by investment analysts at Citigroup from $15.00 to $14.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price target would indicate a potential upside of 42.13% from the company's current price.

A number of other equities research analysts have also recently weighed in on the company. KeyCorp cut their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Raymond James cut their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $13.00 price target on shares of Warner Bros. Discovery in a report on Friday, March 7th. Finally, Argus raised Warner Bros. Discovery to a "hold" rating in a report on Tuesday. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.17.

Warner Bros. Discovery Stock Performance

WBD stock traded down $0.19 during midday trading on Thursday, reaching $9.85. The company had a trading volume of 52,968,974 shares, compared to its average volume of 33,543,291. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a 50 day moving average price of $8.94 and a 200 day moving average price of $9.93. Warner Bros. Discovery has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The firm has a market capitalization of $24.18 billion, a PE ratio of -2.15, a P/E/G ratio of 8.64 and a beta of 1.46.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued 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 company had revenue of $8.98 billion during the quarter, compared to analyst estimates of $9.66 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business's revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.40) earnings per share. Analysts anticipate that Warner Bros. Discovery will post -4.33 earnings per share for the current year.

Insider Activity

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Warner Bros. Discovery

Several institutional investors have recently bought and sold shares of WBD. Vanguard Group Inc. increased its holdings in shares of Warner Bros. Discovery by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 256,820,031 shares of the company's stock valued at $2,755,679,000 after acquiring an additional 4,169,240 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Warner Bros. Discovery by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company's stock valued at $605,633,000 after acquiring an additional 1,991,441 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Warner Bros. Discovery by 2.1% during the 1st quarter. Invesco Ltd. now owns 43,341,297 shares of the company's stock valued at $465,052,000 after acquiring an additional 873,869 shares during the last quarter. Norges Bank acquired a new position in shares of Warner Bros. Discovery during the 4th quarter valued at about $362,210,000. Finally, Sessa Capital IM L.P. boosted its holdings in Warner Bros. Discovery by 4.0% during the first quarter. Sessa Capital IM L.P. now owns 29,555,277 shares of the company's stock valued at $317,128,000 after acquiring an additional 1,144,849 shares during the period. 59.95% of the stock is currently owned by 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.