Warner Bros. Discovery (NASDAQ:WBD) Issues Earnings Results

Warner Bros. Discovery (NASDAQ:WBD) issued its quarterly earnings data on Thursday. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12, Briefing.com reports. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period in the prior year, the firm earned ($0.17) earnings per share. The company’s revenue was down 3.6% on a year-over-year basis.

Warner Bros. Discovery Stock Down 2.3 %

NASDAQ:WBD traded down $0.22 on Friday, hitting $9.15. 33,426,863 shares of the company’s stock traded hands, compared to its average volume of 29,090,086. Warner Bros. Discovery has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. The company has a market cap of $22.43 billion, a PE ratio of -1.85 and a beta of 1.48. The firm has a 50-day moving average price of $7.87 and a 200-day moving average price of $7.83.

Analysts Set New Price Targets

WBD has been the subject of a number of recent research reports. Benchmark reaffirmed a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a report on Friday, September 13th. Raymond James upped their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday. Macquarie reduced their target price on Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Finally, Barclays raised their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.50.

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.