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

Warner Bros. Discovery (NASDAQ:WBD) had its price target upped by equities researchers at Rosenblatt Securities from $9.00 to $13.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Rosenblatt Securities’ price objective would suggest a potential upside of 4.17% from the stock’s current price.

A number of other brokerages have also commented on WBD. Barclays upped their target price on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Macquarie increased their price objective on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Raymond James upped their price target on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Barrington Research reissued an “outperform” rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a report on Friday. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Hold” and an average target price of $11.33.

Warner Bros. Discovery Stock Down 0.1 %

NASDAQ:WBD opened at $12.48 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a market cap of $30.62 billion, a PE ratio of -2.72 and a beta of 1.52. The company’s 50 day moving average is $9.02 and its two-hundred day moving average is $8.21.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the prior year, the firm earned ($0.17) EPS. The firm’s revenue was down 3.6% on a year-over-year basis. Analysts anticipate that Warner Bros. Discovery will post -4.37 EPS for the current year.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of hedge funds have recently made changes to their positions in WBD. OFI Invest Asset Management lifted its holdings in Warner Bros. Discovery by 45.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after purchasing an additional 1,221 shares in the last quarter. Commerce Bank boosted its position in Warner Bros. Discovery by 2.4% during the third quarter. Commerce Bank now owns 55,963 shares of the company’s stock worth $462,000 after acquiring an additional 1,286 shares during the last quarter. GAM Holding AG boosted its position in Warner Bros. Discovery by 0.3% during the third quarter. GAM Holding AG now owns 457,685 shares of the company’s stock worth $3,776,000 after acquiring an additional 1,437 shares during the last quarter. Waldron Private Wealth LLC raised its holdings in Warner Bros. Discovery by 5.4% in the 3rd quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock valued at $234,000 after acquiring an additional 1,461 shares during the last quarter. Finally, PFG Investments LLC lifted its stake in Warner Bros. Discovery by 1.4% in the 3rd quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock worth $927,000 after purchasing an additional 1,517 shares in the last quarter. Institutional investors and hedge funds 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.