Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Free Report) have earned a consensus rating of “Hold” from the twenty-three ratings firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $27.0417.
WBD has been the subject of a number of analyst reports. Moffett Nathanson raised Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Sunday, March 8th. Raymond James Financial reaffirmed an “underperform” rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. Wells Fargo & Company started coverage on Warner Bros. Discovery in a research report on Monday, March 9th. They issued an “equal weight” rating and a $31.00 price objective on the stock. Sanford C. Bernstein raised their price target on Warner Bros. Discovery from $23.50 to $27.75 and gave the company a “market perform” rating in a research report on Tuesday, February 24th. Finally, Guggenheim reissued a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th.
Read Our Latest Stock Analysis on WBD
Warner Bros. Discovery Price Performance
Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The company had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the previous year, the business earned ($0.18) earnings per share. Warner Bros. Discovery’s revenue was down 1.0% on a year-over-year basis. Analysts anticipate that Warner Bros. Discovery will post -0.71 earnings per share for the current year.
Insider Transactions at Warner Bros. Discovery
In related news, Director Paul A. Gould sold 600,000 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $27.35, for a total value of $16,410,000.00. Following the completion of the transaction, the director directly owned 244,357 shares in the company, valued at $6,683,163.95. The trade was a 71.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bruce Campbell sold 41,784 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $27.82, for a total transaction of $1,162,430.88. Following the completion of the transaction, the insider owned 604,666 shares of the company’s stock, valued at approximately $16,821,808.12. The trade was a 6.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 3,286,556 shares of company stock worth $91,638,563. Company insiders own 1.80% of the company’s stock.
Institutional Investors Weigh In On Warner Bros. Discovery
Hedge funds have recently modified their holdings of the business. Concord Wealth Partners boosted its holdings in Warner Bros. Discovery by 49.9% in the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after buying an additional 440 shares during the period. Swiss RE Ltd. bought a new position in Warner Bros. Discovery in the 4th quarter worth $26,000. Physician Wealth Advisors Inc. boosted its holdings in Warner Bros. Discovery by 152.1% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after buying an additional 847 shares during the period. Fideuram Asset Management Ireland dac bought a new position in Warner Bros. Discovery in the 4th quarter worth $29,000. Finally, MV Capital Management Inc. bought a new position in Warner Bros. Discovery in the 4th quarter worth $30,000. Institutional investors own 59.95% of the company’s stock.
About Warner Bros. Discovery
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.
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