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

Warner Bros. Discovery (NASDAQ:WBD) had its price objective upped by stock analysts at The Goldman Sachs Group from $9.50 to $10.75 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 2.28% from the stock’s current price.

Several other equities research analysts also recently issued reports on WBD. Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Rosenblatt Securities upped their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Bank of America reiterated a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Barclays raised their price objective on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Finally, Macquarie raised their price target on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Twelve investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.44.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock traded down $0.12 during mid-day trading on Thursday, hitting $10.51. 5,408,952 shares of the company’s stock traded hands, compared to its average volume of 29,581,549. The firm has a 50 day moving average price of $9.32 and a 200 day moving average price of $8.31. The company has a market cap of $25.78 billion, a PE ratio of -2.29 and a beta of 1.52. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery has a one year low of $6.64 and a one year high of $12.70.

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

Insider Buying and Selling at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the transaction, the insider now owns 599,317 shares in the company, valued at approximately $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 can be accessed through this link. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Warner Bros. Discovery

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates grew its position in Warner Bros. Discovery by 0.3% in the 2nd quarter. Raymond James & Associates now owns 1,466,922 shares of the company’s stock valued at $10,914,000 after acquiring an additional 4,554 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Warner Bros. Discovery by 12.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 156,820 shares of the company’s stock valued at $1,167,000 after acquiring an additional 16,905 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Warner Bros. Discovery during the second quarter worth about $140,000. JB Capital LLC purchased a new stake in Warner Bros. Discovery in the second quarter valued at $99,000. Finally, Premier Path Wealth Partners LLC increased its holdings in shares of Warner Bros. Discovery by 8.7% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 144,970 shares of the company’s stock valued at $1,079,000 after purchasing an additional 11,631 shares in the last quarter. 59.95% of the stock is owned by institutional investors.

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.