Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stock Has Average Price Target of $28.34

Warner Bros. Discovery, Inc. (NASDAQ:WBD) has been given an average rating of “Hold” by the twenty-two analysts that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $28.61.

A number of analysts have recently weighed in on WBD shares. Freedom Capital upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Seaport Research Partners downgraded shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a report on Monday, July 27th. Morgan Stanley lifted their price target on Warner Bros. Discovery from $29.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 22nd. Barclays began coverage on Warner Bros. Discovery in a research note on Thursday, September 17th. They set an “equal weight” rating and a $29.00 price objective on the stock. Finally, Argus restated a “sell” rating on shares of Warner Bros. Discovery in a research report on Tuesday.

Insider Transactions at Warner Bros. Discovery

In other news, Director Kenneth Lowe sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $28.23, for a total transaction of $5,646,000.00. Following the transaction, the director owned 590,108 shares of the company’s stock, valued at approximately $16,658,748.84. The trade was a 25.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Amy Girdwood sold 262,285 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $27.98, for a total value of $7,338,734.30. Following the sale, the insider owned 539,374 shares in the company, valued at $15,091,684.52. The trade was a 32.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 2,782,149 shares of company stock worth $77,455,972. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Warner Bros. Discovery

Several hedge funds and other institutional investors have recently made changes to their positions in WBD. Harbor Investment Advisory LLC increased its stake in shares of Warner Bros. Discovery by 111.2% during the second quarter. Harbor Investment Advisory LLC now owns 942 shares of the company’s stock valued at $25,000 after buying an additional 496 shares during the period. Field & Main Bank purchased a new stake in Warner Bros. Discovery in the second quarter worth about $26,000. Fideuram Asset Management Ireland dac purchased a new stake in Warner Bros. Discovery in the fourth quarter worth about $29,000. Elevation Wealth Partners LLC grew its holdings in Warner Bros. Discovery by 64.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,009 shares of the company’s stock worth $27,000 after acquiring an additional 395 shares in the last quarter. Finally, Archer Investment Corp purchased a new position in Warner Bros. Discovery during the 2nd quarter valued at about $27,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Trending Headlines about Warner Bros. Discovery

Here are the key news stories impacting Warner Bros. Discovery this week:

• Positive Sentiment: Merger closing is now highly likely: Regulatory clearance and the announced October 6 closing date remove a major source of uncertainty. The combined company is expected to generate approximately $6 billion in cost savings, supporting the investment case if management can execute. Paramount-Warner Bros. Deal Cleared Despite Merger Opposition
• Positive Sentiment: Financing and operating plans are advancing: Paramount has priced substantial debt financing for the transaction, while shareholders are reportedly set to receive stock warrants. Management also highlighted that most expected cost savings should come from efficiencies rather than layoffs, which could reduce execution concerns. Paramount Shareholders to Get Stock Warrants in Warner Acquisition
• Positive Sentiment: Content opportunities could improve scale: Warner Bros. Discovery has signed a major programming agreement with ITV, and the enlarged company will combine extensive film, television, streaming, news and gaming assets. Warner Bros. Discovery Strikes Content Deal With ITV
• Neutral Sentiment: Combined company will be named Skydance: Paramount and Warner Bros. Discovery are expected to operate under the Skydance name after closing. The rebranding may help establish a unified corporate identity, but it also removes the Warner Bros. Discovery name from the public company. Paramount and Warner Bros. Discovery to Become Skydance
• Negative Sentiment: Leverage and transition risks remain: The acquisition financing includes tens of billions of dollars in secured notes and term loans, increasing interest obligations for the combined business. Warner Bros. studio executives Michael De Luca and Pamela Abdy are expected to depart, while WBD will leave the Nasdaq and major stock indexes after the merger, potentially creating technical selling pressure. Warner Bros. Stock Is About to Leave the Nasdaq

Warner Bros. Discovery Stock Down 0.0%

NASDAQ WBD opened at $30.94 on Monday. The stock has a 50 day moving average price of $28.27 and a 200-day moving average price of $27.43. Warner Bros. Discovery has a one year low of $17.08 and a one year high of $30.97. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $77.68 billion, a P/E ratio of -24.36 and a beta of 1.53.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.20. Warner Bros. Discovery had a negative net margin of 8.77% and a negative return on equity of 8.91%. The company had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the previous year, the business posted $0.63 earnings per share. Warner Bros. Discovery’s quarterly revenue was down 11.2% on a year-over-year basis. As a group, equities analysts predict that Warner Bros. Discovery will post -1.08 EPS for the current fiscal year.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery, Inc is a global media and entertainment company that creates, distributes and licenses television, film and digital content. Its portfolio includes Warner Bros. film and television studios, HBO and Max, CNN, Discovery, HGTV, Food Network, TLC, TNT Sports and other well-known entertainment, news, lifestyle and sports brands.

The company serves audiences through streaming platforms, cable and broadcast networks, theatrical releases, consumer products and content licensing.