Warner Bros. Discovery (NASDAQ:WBD) Rating Increased to Moderate Buy at Singular Research

Singular Research upgraded shares of Warner Bros. Discovery (NASDAQ:WBD) to a moderate buy rating in a research report report published on Wednesday,Zacks.com reports.

Several other equities analysts have also recently issued reports on the company. UBS Group lifted their price objective on Warner Bros. Discovery from $10.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. TD Cowen restated a “hold” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday, September 16th. Barclays set a $20.00 target price on Warner Bros. Discovery in a research note on Wednesday, October 8th. Seaport Global Securities boosted their target price on Warner Bros. Discovery from $15.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Finally, Guggenheim boosted their target price on Warner Bros. Discovery from $14.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Hold” and a consensus price target of $17.68.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $21.25 on Wednesday. The company has a market cap of $52.61 billion, a P/E ratio of 70.84, a P/E/G ratio of 2.49 and a beta of 1.73. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a 50-day moving average of $16.22 and a two-hundred day moving average of $12.35. Warner Bros. Discovery has a 1-year low of $7.35 and a 1-year high of $21.56.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.79. The company 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 revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($4.07) EPS. As a group, analysts anticipate that Warner Bros. Discovery will post -4.33 EPS for the current year.

Insiders Place Their Bets

In other news, Director Anton J. Levy bought 75,000 shares of the firm’s stock in a transaction on Tuesday, August 12th. The shares were bought at an average cost of $11.00 per share, for a total transaction of $825,000.00. Following the completion of the transaction, the director owned 949,000 shares in the company, valued at $10,439,000. This trade represents a 8.58% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bruce Campbell sold 150,000 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $18.00, for a total value of $2,700,000.00. Following the sale, the insider owned 252,464 shares in the company, valued at approximately $4,544,352. The trade was a 37.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 970,115 shares of company stock worth $17,818,490. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Warner Bros. Discovery

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new stake in shares of Warner Bros. Discovery in the first quarter valued at about $26,000. Financial Gravity Asset Management Inc. acquired a new position in Warner Bros. Discovery in the first quarter valued at approximately $27,000. North Capital Inc. bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth approximately $28,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of Warner Bros. Discovery during the first quarter valued at $29,000. Finally, Financial Gravity Companies Inc. acquired a new position in shares of Warner Bros. Discovery during the second quarter valued at $29,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Company Profile

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.