Warner Bros. Discovery, Inc. (NASDAQ:WBD) Receives Average Rating of “Hold” from Analysts

Warner Bros. Discovery, Inc. (NASDAQ:WBD) has earned an average rating of “Hold” from the twenty-one ratings firms that are currently covering the firm, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $11.56.

A number of research analysts recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Raymond James lifted their price objective on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Barrington Research reissued an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a report on Friday, December 13th. KeyCorp lifted their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group upped their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th.

Insider Activity at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of the stock in a transaction 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 of the company’s stock, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Warner Bros. Discovery

Large investors have recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in Warner Bros. Discovery by 3.1% during the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after purchasing an additional 78,653 shares in the last quarter. Hauser Brothers GmbH increased its position in Warner Bros. Discovery by 56.1% during the 3rd quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock worth $10,106,000 after purchasing an additional 440,000 shares during the period. Private Management Group Inc. raised its stake in shares of Warner Bros. Discovery by 37.7% during the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after buying an additional 1,886,868 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Warner Bros. Discovery in the 3rd quarter valued at approximately $1,474,000. Finally, Blueshift Asset Management LLC purchased a new stake in shares of Warner Bros. Discovery in the third quarter valued at approximately $588,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 0.5 %

Warner Bros. Discovery stock opened at $9.52 on Friday. The firm has a market capitalization of $23.35 billion, a P/E ratio of -2.08, a P/E/G ratio of 9.12 and a beta of 1.50. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery has a twelve month low of $6.64 and a twelve month high of $12.70. The stock’s fifty day simple moving average is $10.37 and its 200-day simple moving average is $8.72.

Warner Bros. Discovery (NASDAQ:WBD) last posted 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. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter last year, the company earned ($0.17) EPS. Warner Bros. Discovery’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities analysts expect that Warner Bros. Discovery will post -4.36 earnings per share for the current fiscal year.

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.