Warner Bros. Discovery, Inc. (NASDAQ:WBD) Receives $19.91 Consensus Target Price from Brokerages

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) have received a consensus recommendation of “Moderate Buy” from the twenty-eight ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $21.7841.

Several brokerages have commented on WBD. Singular Research upgraded shares of Warner Bros. Discovery to a “moderate buy” rating in a research note on Wednesday, October 22nd. The Goldman Sachs Group lifted their target price on Warner Bros. Discovery from $13.00 to $14.75 and gave the stock a “buy” rating in a report on Friday, November 7th. Wells Fargo & Company increased their price target on Warner Bros. Discovery from $21.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Weiss Ratings downgraded Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Finally, Arete Research raised Warner Bros. Discovery to a “strong-buy” rating in a report on Tuesday, October 28th.

Insiders Place Their Bets

In other news, CFO Gunnar Wiedenfels sold 222,210 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $22.50, for a total transaction of $4,999,725.00. Following the sale, the chief financial officer directly owned 918,940 shares in the company, valued at approximately $20,676,150. This represents a 19.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruce Campbell sold 150,000 shares of Warner Bros. Discovery stock in a transaction dated 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 completion of the transaction, the insider owned 252,464 shares of the company’s stock, valued at approximately $4,544,352. This represents a 37.27% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,192,325 shares of company stock worth $22,818,215. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Warner Bros. Discovery

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WPG Advisers LLC purchased a new position in shares of Warner Bros. Discovery in the 1st quarter worth approximately $26,000. Concord Wealth Partners lifted 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 buying an additional 440 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in Warner Bros. Discovery during the first quarter worth $27,000. Physician Wealth Advisors Inc. boosted its stake in Warner Bros. Discovery by 152.1% during the third 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. Finally, Financial Gravity Companies Inc. bought a new position in Warner Bros. Discovery during the second quarter valued at $29,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Up 0.3%

Shares of WBD opened at $23.05 on Friday. The business’s 50 day moving average is $18.90 and its 200 day moving average is $13.70. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery has a 12-month low of $7.52 and a 12-month high of $23.19. The company has a market capitalization of $57.07 billion, a PE ratio of 76.84, a price-to-earnings-growth ratio of 2.56 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The company had revenue of $9.05 billion for the quarter, compared to the consensus estimate of $9.17 billion. During the same quarter in the previous year, the business earned $0.05 EPS. The company’s quarterly revenue was down 6.0% on a year-over-year basis. Research analysts expect that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

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.