Analysts Set Warner Bros. Discovery, Inc. (NASDAQ:WBD) Price Target at $16.61

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) have been assigned an average rating of “Hold” from the twenty-four brokerages that are covering the firm, Marketbeat reports. Sixteen analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $16.6111.

A number of equities analysts recently issued reports on the company. Raymond James Financial increased their price objective on Warner Bros. Discovery from $13.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, October 2nd. Guggenheim increased their price objective on Warner Bros. Discovery from $14.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Sanford C. Bernstein increased their price objective on Warner Bros. Discovery from $13.00 to $16.00 and gave the stock a “market perform” rating in a report on Monday, September 22nd. Bank of America increased their price objective on Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Finally, Wells Fargo & Company increased their price objective on Warner Bros. Discovery from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, September 11th.

Warner Bros. Discovery Stock Up 2.6%

NASDAQ:WBD opened at $18.45 on Monday. The firm has a market capitalization of $45.68 billion, a PE ratio of 61.50, a price-to-earnings-growth ratio of 2.20 and a beta of 1.73. The stock has a 50 day moving average of $15.25 and a 200-day moving average of $11.93. Warner Bros. Discovery has a 52 week low of $7.25 and a 52 week high of $20.24. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.79. The company had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($4.07) earnings per share. Analysts predict that Warner Bros. Discovery will post -4.33 EPS for the current year.

Insider Buying and Selling

In other news, Director Anton J. Levy purchased 250,000 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was purchased at an average cost of $10.90 per share, with a total value of $2,725,000.00. Following the purchase, the director owned 874,000 shares in the company, valued at $9,526,600. This trade represents a 40.06% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $19.50, for a total value of $10,350,463.50. Following the transaction, the chief financial officer directly owned 1,141,150 shares of the company’s stock, valued at approximately $22,252,425. The trade was a 31.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 970,115 shares of company stock valued at $17,818,490 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Grove Bank & Trust boosted its stake in Warner Bros. Discovery by 66.5% during the 3rd quarter. Grove Bank & Trust now owns 1,690 shares of the company’s stock valued at $33,000 after purchasing an additional 675 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in Warner Bros. Discovery by 0.8% during the 1st quarter. Summit Investment Advisors Inc. now owns 101,522 shares of the company’s stock valued at $1,089,000 after purchasing an additional 795 shares in the last quarter. Cranbrook Wealth Management LLC boosted its stake in Warner Bros. Discovery by 73.8% during the 3rd quarter. Cranbrook Wealth Management LLC now owns 1,929 shares of the company’s stock valued at $38,000 after purchasing an additional 819 shares in the last quarter. Optas LLC boosted its stake in Warner Bros. Discovery by 6.1% during the 3rd quarter. Optas LLC now owns 14,685 shares of the company’s stock valued at $287,000 after purchasing an additional 844 shares in the last quarter. Finally, Premier Path Wealth Partners LLC boosted its stake in Warner Bros. Discovery by 0.6% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 134,943 shares of the company’s stock valued at $1,546,000 after purchasing an additional 857 shares in the last quarter. 59.95% of the stock is owned by institutional investors.

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.