Warner Bros. Discovery, Inc. (NASDAQ:WBD) Receives $16.61 Average PT from Analysts

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) have earned a consensus recommendation of “Hold” from the twenty-four analysts that are presently covering the stock, MarketBeat Ratings reports. Sixteen analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $17.00.

WBD has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on Warner Bros. Discovery from $14.00 to $21.00 and gave the company an “equal weight” rating in a report on Thursday. Barclays set a $20.00 price target on Warner Bros. Discovery in a report on Wednesday, October 8th. The Goldman Sachs Group increased their price target on Warner Bros. Discovery from $11.50 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday, September 30th. Morgan Stanley increased their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, September 25th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Warner Bros. Discovery in a report on Friday, September 26th.

Insiders Place Their Bets

In related news, Director Anton J. Levy acquired 75,000 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were bought at an average price of $11.00 per share, with a total value of $825,000.00. Following the transaction, the director directly owned 949,000 shares of the company’s stock, valued at $10,439,000. This trade represents a 8.58% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bruce Campbell sold 150,000 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the transaction, the insider directly owned 252,464 shares in the company, valued at $4,544,352. This trade represents a 37.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 970,115 shares of company stock worth $17,818,490. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of institutional investors and hedge funds have recently made changes to their positions in WBD. Brighton Jones LLC boosted its position in shares of Warner Bros. Discovery by 304.9% during the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after purchasing an additional 51,920 shares in the last quarter. Park Avenue Securities LLC boosted its position in shares of Warner Bros. Discovery by 10.1% during the 1st quarter. Park Avenue Securities LLC now owns 50,446 shares of the company’s stock worth $541,000 after purchasing an additional 4,625 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Warner Bros. Discovery by 17.0% during the 1st quarter. Farther Finance Advisors LLC now owns 11,853 shares of the company’s stock worth $121,000 after purchasing an additional 1,720 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Warner Bros. Discovery by 16.1% during the 1st quarter. GAMMA Investing LLC now owns 45,942 shares of the company’s stock worth $493,000 after purchasing an additional 6,354 shares in the last quarter. Finally, CX Institutional boosted its position in shares of Warner Bros. Discovery by 5.7% during the 1st quarter. CX Institutional now owns 27,324 shares of the company’s stock worth $293,000 after purchasing an additional 1,465 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $18.19 on Monday. The company has a market capitalization of $45.03 billion, a price-to-earnings ratio of 60.64, a PEG ratio of 2.23 and a beta of 1.73. Warner Bros. Discovery has a twelve month low of $7.25 and a twelve month high of $20.24. The stock has a fifty day simple moving average of $15.52 and a 200 day simple moving average of $12.04. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.79. The business had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.Warner Bros. Discovery’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted ($4.07) earnings per share. Sell-side analysts expect that Warner Bros. Discovery will post -4.33 EPS for the current year.

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.