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

Key Points

• Morgan Stanley has raised the price target for Warner Bros. Discovery from $10.00 to $13.00, indicating a potential 1.21% upside from the company's previous close.
• The stock is currently rated as "equal weight"** by multiple analysts, with a consensus target price of $12.81.
• Warner Bros. Discovery reported a negative EPS of ($0.18) for the last quarter, missing analysts' expectations, and had a revenue decline of 9.8% year-over-year.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) had its price target hoisted by stock analysts at Morgan Stanley from $10.00 to $13.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's target price would indicate a potential upside of 1.21% from the company's previous close.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company upped their price target on shares of Warner Bros. Discovery from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Barclays lifted their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Barrington Research reaffirmed an "outperform" rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, July 30th. Finally, UBS Group increased their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Twelve research 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 company has an average rating of "Moderate Buy" and a consensus target price of $12.81.

Warner Bros. Discovery Trading Up 1.0%

Warner Bros. Discovery stock traded up $0.13 during mid-day trading on Wednesday, hitting $12.85. 28,922,944 shares of the company's stock were exchanged, compared to its average volume of 46,752,918. The firm has a market capitalization of $31.53 billion, a P/E ratio of -2.92 and a beta of 1.57. Warner Bros. Discovery has a fifty-two week low of $6.64 and a fifty-two week high of $13.86. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99. The company's 50 day simple moving average is $11.41 and its 200-day simple moving average is $10.29.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly 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). Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. The business had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $9.66 billion. During the same quarter in the previous year, the business posted ($0.40) EPS. The company's revenue for the quarter was down 9.8% on a year-over-year basis. On average, equities analysts anticipate that Warner Bros. Discovery will post -4.33 earnings per share for the current year.

Institutional Trading of Warner Bros. Discovery

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Colonial Trust Advisors grew its position in shares of Warner Bros. Discovery by 71.8% in 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 period. WPG Advisers LLC acquired a new stake in shares of Warner Bros. Discovery in the first quarter valued at about $26,000. Financial Gravity Asset Management Inc. acquired a new position in Warner Bros. Discovery during the first quarter worth about $27,000. North Capital Inc. purchased a new position in Warner Bros. Discovery during the first quarter worth about $28,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in Warner Bros. Discovery during the first quarter worth about $29,000. Institutional investors and hedge funds 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.

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