Warner Bros. Discovery, Inc. (NASDAQ:WBD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Warner Bros. Discovery, Inc. (NASDAQ:WBD) has been assigned a consensus rating of “Moderate Buy” from the twenty-one analysts that are covering the company, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $11.76.

A number of brokerages have recently commented on WBD. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Rosenblatt Securities boosted their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Guggenheim increased their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research report on Friday, December 13th. Finally, The Goldman Sachs Group increased their price target on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research report on Thursday, December 19th.

Warner Bros. Discovery Trading Down 1.0 %

WBD opened at $10.06 on Wednesday. The stock has a market capitalization of $24.68 billion, a P/E ratio of -2.20, a P/E/G ratio of 6.36 and a beta of 1.49. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery has a 12 month low of $6.64 and a 12 month high of $12.70. The firm’s fifty day simple moving average is $10.47 and its 200 day simple moving average is $8.95.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.17) earnings per share. As a group, research analysts anticipate that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

Insider Activity

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its stake in Warner Bros. Discovery by 8.3% during the second quarter. Cetera Investment Advisers now owns 540,002 shares of the company’s stock worth $4,018,000 after acquiring an additional 41,457 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Warner Bros. Discovery during the 2nd quarter worth approximately $1,297,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Warner Bros. Discovery during the 2nd quarter worth approximately $1,674,000. AMF Tjanstepension AB bought a new position in Warner Bros. Discovery in the 3rd quarter valued at approximately $1,031,000. Finally, Czech National Bank boosted its position in Warner Bros. Discovery by 7.0% in the third quarter. Czech National Bank now owns 454,526 shares of the company’s stock valued at $3,750,000 after buying an additional 29,620 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

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.