KeyCorp Issues Positive Forecast for Warner Bros. Discovery (NASDAQ:WBD) Stock Price

Warner Bros. Discovery (NASDAQ:WBD) had its target price lifted by investment analysts at KeyCorp from $11.00 to $14.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price objective would suggest a potential upside of 29.39% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Barrington Research reaffirmed an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, November 7th. Sanford C. Bernstein cut shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their target price for the company from $10.00 to $8.00 in a research note on Tuesday, August 13th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $9.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.71.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $10.82 on Tuesday. The firm has a fifty day moving average price of $8.93 and a 200-day moving average price of $8.18. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $26.54 billion, a PE ratio of -2.36 and a beta of 1.51. Warner Bros. Discovery has a 1 year low of $6.64 and a 1 year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.17) earnings per share. Equities analysts anticipate that Warner Bros. Discovery will post -4.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Warner Bros. Discovery

Several institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. lifted its holdings in Warner Bros. Discovery by 111.0% during the 3rd quarter. Franklin Resources Inc. now owns 375,462 shares of the company’s stock valued at $2,831,000 after buying an additional 197,528 shares in the last quarter. Synovus Financial Corp lifted its holdings in Warner Bros. Discovery by 17.3% during the 3rd quarter. Synovus Financial Corp now owns 69,192 shares of the company’s stock valued at $571,000 after buying an additional 10,199 shares in the last quarter. Tidal Investments LLC lifted its holdings in Warner Bros. Discovery by 89.5% during the 3rd quarter. Tidal Investments LLC now owns 142,649 shares of the company’s stock valued at $1,177,000 after buying an additional 67,355 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Warner Bros. Discovery during the 3rd quarter valued at about $1,545,000. Finally, Coldstream Capital Management Inc. lifted its holdings in Warner Bros. Discovery by 18.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 26,307 shares of the company’s stock valued at $219,000 after buying an additional 4,176 shares in the last quarter. 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.