Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $12.00 at Raymond James

Warner Bros. Discovery (NASDAQ:WBD) had its target price lifted by research analysts at Raymond James from $11.00 to $12.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price target would indicate a potential upside of 33.04% from the company’s previous close.

Several other research firms have also commented on WBD. Barrington Research restated an “outperform” rating and set a $12.00 price target on shares of Warner Bros. Discovery in a research report on Thursday. The Goldman Sachs Group raised their target price on Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft reduced their price target on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Sanford C. Bernstein downgraded Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $10.00 to $8.00 in a research report on Tuesday, August 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus price target of $10.39.

Warner Bros. Discovery Stock Performance

NASDAQ WBD traded down $0.35 on Friday, reaching $9.02. 22,688,961 shares of the company’s stock traded hands, compared to its average volume of 29,040,602. The stock has a 50 day moving average price of $7.87 and a 200-day moving average price of $7.83. The firm has a market cap of $22.12 billion, a price-to-earnings ratio of -1.88 and a beta of 1.48. Warner Bros. Discovery has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period last year, the company earned ($0.17) earnings per share. Warner Bros. Discovery’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts predict that Warner Bros. Discovery will post -4.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of institutional investors have recently made changes to their positions in WBD. Family Firm Inc. purchased a new position in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $26,000. Crewe Advisors LLC acquired a new stake in shares of Warner Bros. Discovery in the first quarter valued at $27,000. OFI Invest Asset Management raised its holdings in shares of 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 buying an additional 1,221 shares during the period. Transcendent Capital Group LLC lifted its stake in Warner Bros. Discovery by 665.4% during the 1st quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock worth $35,000 after acquiring an additional 3,480 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in Warner Bros. Discovery during the 1st quarter valued at about $39,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

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.