Brokerages Set Warner Bros. Discovery, Inc. (NASDAQ:WBD) PT at $19.91

Warner Bros. Discovery, Inc. (NASDAQ:WBD) has received an average recommendation of “Moderate Buy” from the twenty-nine brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, twelve have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $21.7045.

Several analysts recently issued reports on WBD shares. Deutsche Bank Aktiengesellschaft boosted their price target on Warner Bros. Discovery from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Cowen downgraded Warner Bros. Discovery from a “buy” rating to a “hold” rating in a report on Tuesday, September 16th. UBS Group boosted their target price on shares of Warner Bros. Discovery from $10.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Rothschild Redb upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Finally, Bank of America lifted their price objective on shares of Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th.

Warner Bros. Discovery Stock Up 1.1%

Shares of WBD opened at $22.67 on Friday. The firm 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 debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. Warner Bros. Discovery has a 52 week low of $7.52 and a 52 week high of $23.06. The firm’s 50-day simple moving average is $18.44 and its 200 day simple moving average is $13.50.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The firm had revenue of $9.05 billion for the quarter, compared to the consensus estimate of $9.17 billion. During the same quarter in the prior year, the firm earned $0.05 EPS. The company’s revenue was down 6.0% on a year-over-year basis. On average, analysts forecast that Warner Bros. Discovery will post -4.33 earnings per share for the current year.

Insider Activity

In related news, insider Bruce Campbell sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $18.00, for a total value of $2,700,000.00. Following the completion of the sale, the insider directly owned 252,464 shares in the company, valued at approximately $4,544,352. The trade was a 37.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Gunnar Wiedenfels sold 222,210 shares of the stock in a transaction that occurred 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 sale, the chief financial officer directly owned 918,940 shares in the company, valued at $20,676,150. This represents a 19.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,192,325 shares of company stock worth $22,818,215. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of Warner Bros. Discovery

Several large investors have recently bought and sold shares of WBD. Compass Wealth Management LLC bought a new stake in shares of Warner Bros. Discovery during the 3rd quarter valued at approximately $1,857,000. Syon Capital LLC boosted its stake in shares of Warner Bros. Discovery by 10.5% in the 3rd quarter. Syon Capital LLC now owns 17,164 shares of the company’s stock valued at $335,000 after purchasing an additional 1,635 shares during the last quarter. NEOS Investment Management LLC raised its position in shares of Warner Bros. Discovery by 69.7% in the 3rd quarter. NEOS Investment Management LLC now owns 1,127,770 shares of the company’s stock worth $22,025,000 after acquiring an additional 463,199 shares in the last quarter. Merit Financial Group LLC boosted its holdings in shares of Warner Bros. Discovery by 14.1% during the 3rd quarter. Merit Financial Group LLC now owns 32,165 shares of the company’s stock worth $628,000 after buying an additional 3,968 shares in the last quarter. Finally, Zions Bancorporation National Association UT boosted its position in shares of Warner Bros. Discovery by 525.9% during the 3rd quarter. Zions Bancorporation National Association UT now owns 10,408 shares of the company’s stock worth $203,000 after purchasing an additional 8,745 shares in the last quarter. 59.95% of the stock is 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.