Q3 2024 EPS Estimates for Warner Bros. Discovery, Inc. (NASDAQ:WBD) Decreased by Seaport Res Ptn

Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) - Analysts at Seaport Res Ptn dropped their Q3 2024 EPS estimates for shares of Warner Bros. Discovery in a report released on Tuesday, October 1st. Seaport Res Ptn analyst D. Joyce now expects that the company will post earnings per share of ($0.16) for the quarter, down from their prior estimate of ($0.09). The consensus estimate for Warner Bros. Discovery's current full-year earnings is ($4.17) per share. Seaport Res Ptn also issued estimates for Warner Bros. Discovery's Q4 2024 earnings at $0.01 EPS, FY2024 earnings at ($4.62) EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at ($0.21) EPS, Q3 2025 earnings at ($0.13) EPS, Q4 2025 earnings at $0.08 EPS and FY2025 earnings at ($0.39) EPS.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($3.89). 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 $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. During the same quarter last year, the firm earned ($0.51) EPS. The business's revenue was down 6.2% on a year-over-year basis.

A number of other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a "neutral" rating for the company in a research report on Friday, August 9th. Barrington Research reaffirmed an "outperform" rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a report on Tuesday, July 23rd. Sanford C. Bernstein downgraded shares of Warner Bros. Discovery from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $10.00 to $8.00 in a research report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft dropped their price objective on Warner Bros. Discovery from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Finally, TD Cowen reduced their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $10.93.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock traded down $0.04 during trading hours on Friday, hitting $7.70. 14,643,316 shares of the company were exchanged, compared to its average volume of 29,433,309. 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 business has a 50-day moving average of $7.84 and a 200-day moving average of $7.95. Warner Bros. Discovery has a 1 year low of $6.64 and a 1 year high of $12.70. The stock has a market capitalization of $18.87 billion, a price-to-earnings ratio of -6.24 and a beta of 1.48.

Hedge Funds Weigh In On Warner Bros. Discovery

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sessa Capital IM L.P. grew its stake in shares of Warner Bros. Discovery by 28.8% during the second quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company's stock valued at $169,520,000 after acquiring an additional 5,100,000 shares in the last quarter. Retirement Systems of Alabama boosted its position in Warner Bros. Discovery by 781.3% during the 2nd quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company's stock valued at $32,115,000 after purchasing an additional 3,826,715 shares during the period. Mackenzie Financial Corp grew its stake in Warner Bros. Discovery by 1,216.7% during the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company's stock worth $22,391,000 after buying an additional 2,780,986 shares during the last quarter. EdgePoint Investment Group Inc. increased its position in Warner Bros. Discovery by 14.6% in the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company's stock worth $180,016,000 after buying an additional 2,621,582 shares during the period. Finally, Drexel Morgan & Co. lifted its stake in Warner Bros. Discovery by 97.6% in the first quarter. Drexel Morgan & Co. now owns 4,600,463 shares of the company's stock valued at $40,162,000 after buying an additional 2,272,245 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

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.