Warner Bros. Discovery, Inc. (NASDAQ:WBD) Receives $11.33 Average PT from Brokerages

Warner Bros. Discovery, Inc. (NASDAQ:WBD) has been assigned a consensus rating of “Hold” from the twenty-two brokerages that are presently covering the company, MarketBeat reports. Twelve analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $11.44.

WBD has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their price target on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a report on Thursday. Rosenblatt Securities lifted their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Guggenheim boosted their price target on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. Bank of America restated a “buy” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Finally, KeyCorp increased their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th.

Warner Bros. Discovery Stock Up 1.9 %

Shares of WBD stock opened at $10.69 on Tuesday. The stock’s fifty day moving average price is $9.44 and its 200 day moving average price is $8.34. Warner Bros. Discovery has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a market cap of $26.22 billion, a price-to-earnings ratio of -2.33 and a beta of 1.52. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. On average, research analysts expect that Warner Bros. Discovery will post -4.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Warner Bros. Discovery

Several institutional investors have recently modified their holdings of WBD. Principal Financial Group Inc. lifted its stake in Warner Bros. Discovery by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after buying an additional 78,653 shares in the last quarter. Hauser Brothers GmbH lifted its position in shares of Warner Bros. Discovery by 56.1% in the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock valued at $10,106,000 after acquiring an additional 440,000 shares in the last quarter. Private Management Group Inc. boosted its stake in shares of Warner Bros. Discovery by 37.7% in the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after acquiring an additional 1,886,868 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Warner Bros. Discovery during the third quarter worth approximately $1,474,000. Finally, Blueshift Asset Management LLC acquired a new position in Warner Bros. Discovery in the 3rd quarter valued at $588,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

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.