Warner Bros. Discovery (NASDAQ:WBD) Releases Quarterly Earnings Results, Misses Estimates By $0.16 EPS

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

Warner Bros. Discovery Stock Up 0.9 %

Shares of NASDAQ:WBD traded up $0.07 during trading on Friday, hitting $8.11. The company’s stock had a trading volume of 23,686,013 shares, compared to its average volume of 27,640,947. The business has a 50 day moving average price of $8.39 and a two-hundred day moving average price of $9.80. The company has a market capitalization of $19.79 billion, a PE ratio of -6.47 and a beta of 1.51. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93. Warner Bros. Discovery has a fifty-two week low of $7.34 and a fifty-two week high of $14.76.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Macquarie cut their price target on Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, January 22nd. KeyCorp upgraded Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price objective for the company in a report on Friday. Barrington Research restated an “outperform” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a report on Thursday. Benchmark reiterated a “buy” rating and set a $20.00 price target on shares of Warner Bros. Discovery in a research note on Monday, March 4th. Finally, Rosenblatt Securities upgraded shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and increased 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.32.

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.