TD Cowen Issues Positive Forecast for Warner Bros. Discovery (NASDAQ:WBD) Stock Price

Warner Bros. Discovery (NASDAQ:WBD) had its target price increased by TD Cowen from $14.00 to $22.00 in a research note issued to investors on Friday morning,MarketScreener reports.

Several other equities research analysts have also recently weighed in on WBD. Rothschild Redb upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. UBS Group upped their price objective on shares of Warner Bros. Discovery from $10.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Cowen cut shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating in a report on Tuesday, September 16th. Morgan Stanley raised their target price on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, September 25th. Finally, Singular Research raised shares of Warner Bros. Discovery to a “moderate buy” rating in a research report on Wednesday, October 22nd. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and a consensus target price of $21.57.

Warner Bros. Discovery Trading Up 1.1%

WBD traded up $0.25 on Friday, reaching $22.67. 30,888,063 shares of the company traded hands, compared to its average volume of 48,709,063. The company has a market cap of $56.13 billion, a P/E ratio of 75.57, a price-to-earnings-growth ratio of 2.56 and a beta of 1.74. 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 has a one year low of $7.52 and a one year high of $23.06. The firm has a fifty day simple moving average of $18.44 and a two-hundred day simple moving average of $13.43.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $9.17 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The business’s revenue was down 6.0% compared to the same quarter last year. During the same period last year, the business posted $0.05 earnings per share. As a group, equities research analysts expect that Warner Bros. Discovery will post -4.33 earnings per share for the current year.

Insider Buying and Selling at Warner Bros. Discovery

In other news, insider Bruce Campbell sold 150,000 shares of the stock in a transaction on 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 completion of the sale, the insider owned 252,464 shares in the company, valued at approximately $4,544,352. This represents a 37.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Gunnar Wiedenfels sold 222,210 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $22.50, for a total value of $4,999,725.00. Following the transaction, the chief financial officer owned 918,940 shares in the company, valued at approximately $20,676,150. This trade represents a 19.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,192,325 shares of company stock worth $22,818,215 over the last three months. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Warner Bros. Discovery

Institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in shares of Warner Bros. Discovery by 304.9% during the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock valued at $729,000 after acquiring an additional 51,920 shares in the last quarter. Brown Advisory Inc. grew its position in Warner Bros. Discovery by 10.5% during the 1st quarter. Brown Advisory Inc. now owns 64,832 shares of the company’s stock worth $696,000 after purchasing an additional 6,165 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Warner Bros. Discovery by 1.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 621,162 shares of the company’s stock valued at $6,321,000 after purchasing an additional 6,772 shares in the last quarter. Greenleaf Trust raised its holdings in shares of Warner Bros. Discovery by 14.4% in the first quarter. Greenleaf Trust now owns 27,168 shares of the company’s stock worth $292,000 after buying an additional 3,420 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Warner Bros. Discovery by 22.9% during the first quarter. Nisa Investment Advisors LLC now owns 196,335 shares of the company’s stock worth $2,107,000 after buying an additional 36,568 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

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.