Today Reuters is reporting: "Nov 30 ( Reuters ) - Warner Bros Discovery-owned ( WBD.O ) CNN's top boss Chris Licht informed employees in an all-staff memo on Wednesday that layoffs are underway, according to a CNN reporter's tweet. A representative for CNN did not immediately respond to a Reuters request for comment." For full coverage click here. Shares of the large-cap Communication Services company have not moved much on the news as of the afternoon trading session, and are currently trading at $11.04.
Warner Bros. Discovery, Inc. The company belongs to the Communication Services sector, which has an average price to earnings (P/E) ratio of 18.65 and an average price to book (P/B) ratio of 2.62. In contrast, Warner Bros. Discovery has a trailing 12 month P/E ratio of 6.1 and a P/B ratio of 0.6.
Warner Bros. Discovery has moved -50.0% over the last year compared to -12.3% for the S&P 500 -- a difference of -37.6%. Warner Bros. Discovery has a 52 week high of $31.55 and a 52 week low of $9.52. At today's price of $11.04 per share, Warner Bros. Discovery is -46.9% away from its target price of $20.8, and on average, analysts give the stock a rating of buy.3.9% of the company's shares are linked to short positions, and 56.3% of the shares are owned by institutional investors.
