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

Warner Bros. Discovery (NASDAQ:WBD) issued its quarterly earnings results on Thursday. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16), Briefing.com reports. Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The firm had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $10.22 billion. During the same period last year, the company posted $0.18 EPS. The business’s revenue was down 6.9% on a year-over-year basis.

Warner Bros. Discovery Trading Up 1.2 %

NASDAQ:WBD traded up $0.10 on Friday, hitting $8.14. 26,433,412 shares of the stock were exchanged, compared to its average volume of 27,669,672. Warner Bros. Discovery has a fifty-two week low of $7.34 and a fifty-two week high of $14.76. The stock has a fifty day moving average of $8.39 and a 200-day moving average of $9.80. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. The stock has a market cap of $19.86 billion, a PE ratio of -6.47 and a beta of 1.51.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday. Macquarie dropped their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, January 22nd. Redburn Atlantic downgraded Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price objective on the stock. in a research note on Thursday, January 11th. Wolfe Research lowered shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price target on the stock. in a research report on Tuesday, April 23rd. Finally, Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and upped their price target for the company from $7.00 to $10.00 in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $13.32.

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.