Warner Bros. Discovery, Inc. (NASDAQ:WBD) Receives $11.44 Average PT from Analysts

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) have earned an average rating of “Hold” from the twenty-one analysts that are covering the stock, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $11.46.

A number of equities research analysts have commented on the stock. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Guggenheim raised their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. KeyCorp upped their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group raised their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, Rosenblatt Securities upped their target price on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th.

Insider Activity 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 on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the sale, the insider now directly owns 599,317 shares in the company, valued at $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Warner Bros. Discovery

Several large investors have recently added to or reduced their stakes in WBD. State Street Corp grew its position in shares of Warner Bros. Discovery by 4.1% in the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after purchasing an additional 5,898,611 shares in the last quarter. Sessa Capital IM L.P. grew its holdings in Warner Bros. Discovery by 24.7% during the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after buying an additional 5,625,545 shares in the last quarter. EdgePoint Investment Group Inc. increased its position in shares of Warner Bros. Discovery by 2.6% during the third quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock valued at $176,523,000 after buying an additional 541,192 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Warner Bros. Discovery by 1.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock worth $172,338,000 after buying an additional 329,620 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Warner Bros. Discovery by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock valued at $129,405,000 after acquiring an additional 687,612 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 1.4 %

Shares of NASDAQ WBD opened at $9.84 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $24.14 billion, a P/E ratio of -2.15 and a beta of 1.52. The company’s 50 day moving average price is $10.26 and its 200-day moving average price is $8.65. Warner Bros. Discovery has a 52-week low of $6.64 and a 52-week high of $12.70.

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

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.