Warner Bros. Discovery (NASDAQ:WBD) Releases Earnings Results, Misses Estimates By $0.30 EPS

Warner Bros. Discovery (NASDAQ:WBD) announced its earnings results on Thursday. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30), Zacks reports. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%.

Warner Bros. Discovery Trading Up 4.8 %

Shares of Warner Bros. Discovery stock traded up $0.50 during mid-day trading on Thursday, hitting $11.00. 98,416,765 shares of the stock were exchanged, compared to its average volume of 30,346,641. Warner Bros. Discovery has a twelve month low of $6.64 and a twelve month high of $12.70. The stock has a market capitalization of $26.98 billion, a price-to-earnings ratio of -2.40, a price-to-earnings-growth ratio of 8.64 and a beta of 1.49. The company has a 50-day simple moving average of $10.31 and a 200 day simple moving average of $9.20. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

Insiders Place Their Bets

In related news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were 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 of the company’s stock, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WBD. KeyCorp lifted their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Barclays lifted their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Macquarie boosted their price objective on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Benchmark reissued a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday. Finally, Rosenblatt Securities boosted their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and a consensus target price of $11.76.

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.