The Goldman Sachs Group Raises Warner Bros. Discovery (NASDAQ:WBD) Price Target to $8.50

Warner Bros. Discovery (NASDAQ:WBD) had its price target boosted by The Goldman Sachs Group from $7.50 to $8.50 in a report issued on Monday, Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an equal weight rating on the stock in a research note on Monday, July 29th. JPMorgan Chase & Co. dropped their target price on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a neutral rating on the stock in a report on Friday, August 9th. Benchmark reiterated a buy rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a buy rating for the company in a research report on Thursday, August 8th. Finally, Barrington Research reaffirmed an outperform rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of Hold and an average price target of $10.66.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD opened at $7.54 on Monday. The company’s 50 day simple moving average is $7.76 and its 200 day simple moving average is $7.92. The stock has a market capitalization of $18.48 billion, a price-to-earnings ratio of -6.08 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76. 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 Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The firm had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The business’s revenue was down 6.2% compared to the same quarter last year. During the same period last year, the business earned ($0.51) earnings per share. As a group, research analysts predict that Warner Bros. Discovery will post -4.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WBD. Personal CFO Solutions LLC lifted its stake in shares of Warner Bros. Discovery by 4.6% during the 4th quarter. Personal CFO Solutions LLC now owns 25,126 shares of the company’s stock valued at $286,000 after buying an additional 1,108 shares in the last quarter. OFI Invest Asset Management lifted its stake in shares of Warner Bros. Discovery by 45.9% during 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 in the last quarter. Wellington Shields Capital Management LLC lifted its stake in shares of Warner Bros. Discovery by 38.9% during the 1st quarter. Wellington Shields Capital Management LLC now owns 5,317 shares of the company’s stock valued at $46,000 after buying an additional 1,488 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its stake in shares of Warner Bros. Discovery by 13.1% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 13,476 shares of the company’s stock valued at $111,000 after buying an additional 1,565 shares in the last quarter. Finally, Xponance Inc. lifted its stake in shares of Warner Bros. Discovery by 0.5% during the 2nd quarter. Xponance Inc. now owns 316,739 shares of the company’s stock valued at $2,357,000 after buying an additional 1,614 shares in the last quarter. 59.95% of the stock is owned by institutional investors.

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.