Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $12.00

Warner Bros. Discovery (NASDAQ:WBD) had its price objective lifted by research analysts at Barclays from $10.00 to $12.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 4.71% from the stock’s current price.

Several other equities analysts have also issued reports on WBD. JPMorgan Chase & Co. increased their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Raymond James upped their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Guggenheim raised their price target on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday. Finally, The Goldman Sachs Group lifted their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.86.

Warner Bros. Discovery Trading Up 4.2 %

Shares of WBD traded up $0.46 during trading hours on Friday, reaching $11.46. 74,117,761 shares of the company traded hands, compared to its average volume of 31,469,412. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a market cap of $28.11 billion, a price-to-earnings ratio of -2.50, a PEG ratio of 8.64 and a beta of 1.49. The stock’s fifty day moving average price is $10.32 and its 200 day moving average price is $9.22. Warner Bros. Discovery has a 12-month low of $6.64 and a 12-month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. Sell-side analysts forecast that Warner Bros. Discovery will post -4.33 earnings per share for the current year.

Insider Activity

In related news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the sale, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Warner Bros. Discovery

Large investors have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its holdings in Warner Bros. Discovery by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after purchasing an additional 78,653 shares during the last quarter. Hauser Brothers GmbH grew its position in Warner Bros. Discovery by 56.1% in the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock worth $10,106,000 after acquiring an additional 440,000 shares during the period. Private Management Group Inc. increased its stake in Warner Bros. Discovery by 37.7% during the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after acquiring an additional 1,886,868 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Warner Bros. Discovery in the third quarter valued at $1,474,000. Finally, Blueshift Asset Management LLC acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at $588,000. Hedge funds and other institutional investors 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.