Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $13.00

Warner Bros. Discovery (NASDAQ:WBD) had its price target increased by The Goldman Sachs Group from $11.50 to $13.00 in a report issued on Tuesday, Marketbeat reports. The firm currently has a neutral rating on the stock.

Other research analysts have also issued reports about the stock. Guggenheim reiterated a “buy” rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Sanford C. Bernstein raised their target price on shares of Warner Bros. Discovery from $13.00 to $16.00 and gave the company a “market perform” rating in a research note on Monday, September 22nd. Wells Fargo & Company raised their target price on shares of Warner Bros. Discovery from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. UBS Group raised their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Finally, Barclays raised their target price on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $15.14.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $19.24 on Tuesday. The company’s fifty day moving average is $14.34 and its 200-day moving average is $11.48. Warner Bros. Discovery has a 12 month low of $7.25 and a 12 month high of $20.24. The firm has a market cap of $47.63 billion, a price-to-earnings ratio of 64.14, a price-to-earnings-growth ratio of 2.47 and a beta of 1.73. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.79. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same quarter in the prior year, the business posted ($4.07) EPS. Warner Bros. Discovery’s quarterly revenue was up 1.0% on a year-over-year basis. Equities analysts expect that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Anton J. Levy purchased 75,000 shares of the firm’s stock in a transaction on Tuesday, August 12th. The shares were bought at an average cost of $11.00 per share, for a total transaction of $825,000.00. Following the transaction, the director directly owned 949,000 shares of the company’s stock, valued at approximately $10,439,000. This trade represents a 8.58% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Bruce Campbell sold 150,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the transaction, the insider directly owned 252,464 shares of the company’s stock, valued at $4,544,352. The trade was a 37.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 970,115 shares of company stock worth $17,818,490 in the last ninety days. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Warner Bros. Discovery by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 262,477,555 shares of the company’s stock worth $3,007,993,000 after acquiring an additional 5,657,524 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Warner Bros. Discovery by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 60,091,463 shares of the company’s stock worth $685,798,000 after acquiring an additional 551,548 shares during the period. Invesco Ltd. lifted its holdings in shares of Warner Bros. Discovery by 2.8% during the 2nd quarter. Invesco Ltd. now owns 44,574,492 shares of the company’s stock worth $510,824,000 after acquiring an additional 1,233,195 shares during the period. Sessa Capital IM L.P. lifted its holdings in shares of Warner Bros. Discovery by 4.0% during the 1st quarter. Sessa Capital IM L.P. now owns 29,555,277 shares of the company’s stock worth $317,128,000 after acquiring an additional 1,144,849 shares during the period. Finally, Norges Bank bought a new position in shares of Warner Bros. Discovery during the 2nd quarter worth about $306,848,000. 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.