Warner Bros. Discovery (NASDAQ:WBD) Given New $7.00 Price Target at Barclays

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) had its target price dropped by stock analysts at Barclays from $12.00 to $7.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price objective indicates a potential downside of 12.17% from the company's current price.

A number of other equities research analysts have also weighed in on WBD. JPMorgan Chase & Co. raised their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Barrington Research restated an "outperform" rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. Raymond James decreased their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, April 4th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and upped their target price for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Finally, Bank of America reiterated a "buy" rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $11.71.

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Warner Bros. Discovery Trading Down 1.6 %

WBD traded down $0.13 on Tuesday, reaching $7.97. 36,401,826 shares of the company's stock were exchanged, compared to its average volume of 32,419,461. The company has a market cap of $19.56 billion, a price-to-earnings ratio of -1.74, a PEG ratio of 8.64 and a beta of 1.43. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. Warner Bros. Discovery has a twelve month low of $6.64 and a twelve month high of $12.70. The company's 50 day moving average is $10.21 and its 200-day moving average is $9.76.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.30). The business had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Equities analysts predict that Warner Bros. Discovery will post -4.33 earnings per share for the current year.

Insider Activity at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the business's stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the transaction, the director now directly owns 159,932 shares of the company's stock, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Warner Bros. Discovery

A number of hedge funds and other institutional investors have recently modified their holdings of WBD. Norges Bank acquired a new position in Warner Bros. Discovery during the fourth quarter worth about $362,210,000. Contrarius Group Holdings Ltd bought a new position in shares of Warner Bros. Discovery during the 4th quarter valued at about $168,930,000. FMR LLC grew its stake in shares of Warner Bros. Discovery by 478.5% in the 4th quarter. FMR LLC now owns 14,278,600 shares of the company's stock worth $150,925,000 after purchasing an additional 11,810,191 shares during the last quarter. Slate Path Capital LP grew its stake in shares of Warner Bros. Discovery by 36.6% in the 4th quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock worth $251,577,000 after purchasing an additional 6,381,000 shares during the last quarter. Finally, Sachem Head Capital Management LP bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth approximately $64,847,000. Institutional investors own 59.95% of the company's stock.

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.