Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $10.75

Warner Bros. Discovery (NASDAQ:WBD) had its target price hoisted by analysts at The Goldman Sachs Group from $9.50 to $10.75 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 0.56% from the stock’s previous close.

WBD has been the subject of several other research reports. Benchmark reissued a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a report on Friday, September 13th. Bank of America reiterated a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Guggenheim raised their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Barclays boosted their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.44.

Warner Bros. Discovery Stock Performance

WBD stock opened at $10.69 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a market cap of $26.22 billion, a PE ratio of -2.33 and a beta of 1.52. The business has a 50 day moving average of $9.44 and a 200-day moving average of $8.34. Warner Bros. Discovery has a 12-month low of $6.64 and a 12-month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter in the previous year, the firm posted ($0.17) EPS. Warner Bros. Discovery’s revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts expect that Warner Bros. Discovery will post -4.37 earnings per share for the current year.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the transaction, the insider now owns 599,317 shares of the company’s stock, valued at $7,407,558.12. The trade was a 22.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is owned by insiders.

Institutional Trading of Warner Bros. Discovery

A number of hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its position in Warner Bros. Discovery by 3.1% during the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after purchasing an additional 78,653 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Warner Bros. Discovery by 111.0% during the 3rd quarter. Franklin Resources Inc. now owns 375,462 shares of the company’s stock valued at $2,831,000 after buying an additional 197,528 shares in the last quarter. Synovus Financial Corp lifted its position in Warner Bros. Discovery by 17.3% in the 3rd quarter. Synovus Financial Corp now owns 69,192 shares of the company’s stock worth $571,000 after buying an additional 10,199 shares during the last quarter. Tidal Investments LLC boosted its stake in Warner Bros. Discovery by 89.5% in the third quarter. Tidal Investments LLC now owns 142,649 shares of the company’s stock worth $1,177,000 after buying an additional 67,355 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Warner Bros. Discovery during the third quarter valued at approximately $1,545,000. 59.95% of the stock is owned by institutional investors.

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.