Seaport Res Ptn Has Bearish Outlook for WBD FY2024 Earnings

Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) - Research analysts at Seaport Res Ptn reduced their FY2024 earnings estimates for Warner Bros. Discovery in a research note issued to investors on Monday, January 13th. Seaport Res Ptn analyst D. Joyce now forecasts that the company will post earnings per share of ($4.44) for the year, down from their prior forecast of ($4.40). The consensus estimate for Warner Bros. Discovery's current full-year earnings is ($4.36) per share. Seaport Res Ptn also issued estimates for Warner Bros. Discovery's Q4 2024 earnings at ($0.02) EPS, Q1 2025 earnings at ($0.15) EPS, Q2 2025 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.18) EPS, Q4 2025 earnings at $0.14 EPS, FY2025 earnings at ($0.39) EPS and FY2026 earnings at ($0.07) EPS.

A number of other brokerages also recently issued reports on WBD. Wolfe Research upgraded Warner Bros. Discovery from an "underperform" rating to a "peer perform" rating in a research report on Monday, November 11th. Bank of America reiterated a "buy" rating and set a $14.00 target price on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. JPMorgan Chase & Co. upped their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, Raymond James raised 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, November 8th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $11.56.

Warner Bros. Discovery Price Performance

Shares of WBD stock traded down $0.32 on Thursday, reaching $9.47. The company's stock had a trading volume of 20,721,925 shares, compared to its average volume of 27,583,895. The company has a market capitalization of $23.23 billion, a P/E ratio of -2.07, a PEG ratio of 9.12 and a beta of 1.50. Warner Bros. Discovery has a 12-month low of $6.64 and a 12-month high of $12.70. The stock's 50 day simple moving average is $10.36 and its 200-day simple moving average is $8.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. The business had revenue of $9.62 billion for the quarter, compared to analysts' expectations of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.17) EPS.

Insider Buying and Selling at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the sale, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC purchased a new stake in shares of Warner Bros. Discovery in the 2nd quarter worth about $535,000. Choreo LLC lifted its holdings in Warner Bros. Discovery by 63.2% in the second quarter. Choreo LLC now owns 35,049 shares of the company's stock worth $249,000 after buying an additional 13,577 shares during the period. American Century Companies Inc. boosted its position in Warner Bros. Discovery by 4.3% during the 2nd quarter. American Century Companies Inc. now owns 454,013 shares of the company's stock valued at $3,378,000 after acquiring an additional 18,888 shares in the last quarter. Wealthspire Advisors LLC raised its position in shares of Warner Bros. Discovery by 45.8% in the 2nd quarter. Wealthspire Advisors LLC now owns 27,884 shares of the company's stock worth $207,000 after acquiring an additional 8,763 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Warner Bros. Discovery by 10.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 296,371 shares of the company's stock valued at $2,205,000 after purchasing an additional 28,239 shares during the period. Institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Company Profile

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.