Public Employees Retirement System of Ohio Reduces Stake in Warner Bros. Discovery, Inc.
**Summary:** Public Employees Retirement System of Ohio decreased its holdings in Warner Bros. Discovery, Inc. during the third quarter, selling 99,483 shares. Analysts have set new price targets for the company, with varying ratings from different firms.
Summary: Public Employees Retirement System of Ohio decreased its holdings in Warner Bros. Discovery, Inc. during the third quarter, selling 99,483 shares. Analysts have set new price targets for the company, with varying ratings from different firms.
Public Employees Retirement System of Ohio recently made a move in its investment portfolio by cutting its holdings in Warner Bros. Discovery, Inc. The institutional investor sold 99,483 shares during the third quarter, reducing its stake by 10.0%. At the end of the reporting period, the pension fund owned 898,000 shares of Warner Bros. Discovery, valued at $9,752,000.
Analysts Weigh In
Several analysts have provided their insights into Warner Bros. Discovery, Inc. Morgan Stanley and Wells Fargo & Company have lowered their target prices on the stock, while Benchmark has reiterated a "buy" rating with a target price of $20.00. The stock currently holds an average rating of "Moderate Buy" with a consensus target price of $14.39.
Stock Performance
Warner Bros. Discovery stock opened at $8.54 on Friday, with a market capitalization of $20.83 billion. The stock has a P/E ratio of -6.67 and a beta of 1.51. Despite a 52-week range of $8.02 to $15.56, analysts anticipate a negative EPS for the current year.
Quarterly Earnings
In its most recent quarterly earnings report, Warner Bros. Discovery reported a loss per share of ($0.16), missing analysts' estimates. The company's revenue for the quarter was below expectations, with a negative return on equity and net margin. Analysts predict further challenges for the company in the coming year.
Company Profile
Warner Bros. Discovery, Inc. operates as a global media and entertainment company, with segments in Studios, Network, and DTC. The company produces and distributes feature films, television programs, and streaming services, catering to various entertainment channels.
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