Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $32.00

Warner Bros. Discovery (NASDAQ:WBD) had its price objective raised by Argus from $28.00 to $32.00 in a research report report published on Tuesday,MarketScreener reports. The brokerage currently has a buy rating on the stock.

WBD has been the topic of a number of other reports. Sanford C. Bernstein lifted their price objective on Warner Bros. Discovery from $16.00 to $23.50 in a research report on Friday, November 7th. Weiss Ratings raised shares of Warner Bros. Discovery from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 20th. TD Cowen increased their price objective on shares of Warner Bros. Discovery from $14.00 to $22.00 in a research note on Friday, November 7th. Seaport Research Partners lifted their target price on shares of Warner Bros. Discovery from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Finally, Benchmark increased their price target on Warner Bros. Discovery from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.85.

Warner Bros. Discovery Trading Down 1.4%

Shares of Warner Bros. Discovery stock opened at $27.60 on Tuesday. Warner Bros. Discovery has a 1-year low of $7.52 and a 1-year high of $30.00. The company’s fifty day simple moving average is $27.60 and its 200-day simple moving average is $20.41. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $68.39 billion, a PE ratio of 145.27 and a beta of 1.56.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.The company had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $9.17 billion. During the same period in the prior year, the business posted $0.05 earnings per share. Warner Bros. Discovery’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that Warner Bros. Discovery will post -4.33 earnings per share for the current year.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 242,994 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total transaction of $7,168,323.00. Following the completion of the transaction, the chief financial officer owned 918,940 shares of the company’s stock, valued at $27,108,730. This represents a 20.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lori C. Locke sold 4,122 shares of Warner Bros. Discovery stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $28.92, for a total value of $119,208.24. Following the completion of the sale, the chief accounting officer directly owned 100,962 shares in the company, valued at $2,919,821.04. This trade represents a 3.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 267,116 shares of company stock worth $7,781,731. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WBD. JFS Wealth Advisors LLC raised its stake in Warner Bros. Discovery by 12.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 3,425 shares of the company’s stock valued at $99,000 after purchasing an additional 378 shares in the last quarter. Salomon & Ludwin LLC increased its holdings in shares of Warner Bros. Discovery by 20.2% in the 4th quarter. Salomon & Ludwin LLC now owns 2,494 shares of the company’s stock worth $71,000 after buying an additional 419 shares during the last quarter. Optas LLC raised its position in shares of Warner Bros. Discovery by 3.0% during the 4th quarter. Optas LLC now owns 15,120 shares of the company’s stock valued at $436,000 after buying an additional 435 shares in the last quarter. Armstrong Advisory Group Inc. lifted its holdings in shares of Warner Bros. Discovery by 7.7% in the 4th quarter. Armstrong Advisory Group Inc. now owns 6,095 shares of the company’s stock valued at $176,000 after acquiring an additional 436 shares during the last quarter. Finally, Concord Wealth Partners grew its position in Warner Bros. Discovery by 49.9% in the third quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after acquiring an additional 440 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.