Warner Bros. Discovery (NASDAQ:WBD) Announces Earnings Results, Beats Estimates By $0.12 EPS

Warner Bros. Discovery (NASDAQ:WBD) released its earnings results on Thursday. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12, Briefing.com reports. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. Warner Bros. Discovery’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business posted ($0.17) earnings per share.

Warner Bros. Discovery Price Performance

WBD traded down $0.30 during midday trading on Friday, reaching $9.07. 30,141,289 shares of the company’s stock were exchanged, compared to its average volume of 29,074,945. The firm has a market capitalization of $22.24 billion, a price-to-earnings ratio of -1.85 and a beta of 1.48. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. Warner Bros. Discovery has a one year low of $6.64 and a one year high of $12.70. The business has a 50-day simple moving average of $7.87 and a two-hundred day simple moving average of $7.83.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their target price 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. Raymond James boosted their price target on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday. Barclays boosted their price target on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday. The Goldman Sachs Group boosted their price target 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. Finally, JPMorgan Chase & Co. dropped their target price on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. One investment 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $10.50.

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.