Warner Bros. Discovery (NASDAQ:WBD) Price Target Cut to $10.00 by Analysts at Evercore ISI

Warner Bros. Discovery (NASDAQ:WBD) had its target price reduced by Evercore ISI from $12.00 to $10.00 in a report published on Tuesday morning, MarketBeat reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also weighed in on WBD. KeyCorp raised Warner Bros. Discovery from a sector weight rating to an overweight rating and set a $11.00 price objective on the stock in a research note on Friday, May 10th. Rosenblatt Securities raised Warner Bros. Discovery from a sell rating to a neutral rating and upped their price target for the company from $7.00 to $10.00 in a research note on Thursday, March 21st. Sanford C. Bernstein decreased their price target on Warner Bros. Discovery from $11.00 to $10.00 and set an outperform rating on the stock in a research note on Friday, May 10th. Wolfe Research lowered Warner Bros. Discovery from a peer perform rating to an underperform rating and set a $7.00 price target on the stock. in a research note on Tuesday, April 23rd. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Warner Bros. Discovery in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of Hold and an average target price of $12.29.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $8.52 on Tuesday. The stock’s fifty day moving average is $7.71 and its two-hundred day moving average is $8.70. The firm has a market capitalization of $20.88 billion, a P/E ratio of -6.87 and a beta of 1.49. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82. Warner Bros. Discovery has a fifty-two week low of $6.94 and a fifty-two week high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). The company had revenue of $9.96 billion for the quarter, compared to analyst estimates of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The business’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period last year, the firm posted $0.18 EPS. On average, research analysts anticipate that Warner Bros. Discovery will post -0.38 earnings per share for the current year.

Institutional Investors Weigh In On Warner Bros. Discovery

Large investors have recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado increased its holdings in Warner Bros. Discovery by 5,128.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 350,559 shares of the company’s stock worth $3,989,000 after purchasing an additional 343,854 shares during the period. Thompson Investment Management Inc. increased its holdings in Warner Bros. Discovery by 23.5% during the 1st quarter. Thompson Investment Management Inc. now owns 1,118,931 shares of the company’s stock worth $9,768,000 after purchasing an additional 213,149 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its holdings in Warner Bros. Discovery by 8.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock worth $584,000 after purchasing an additional 5,081 shares during the period. Global Assets Advisory LLC acquired a new position in shares of Warner Bros. Discovery during the 1st quarter worth about $182,000. Finally, SageView Advisory Group LLC acquired a new position in shares of Warner Bros. Discovery during the 4th quarter worth about $129,000. 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.