Warner Bros. Discovery’s (WBD) Hold Rating Reiterated at TD Cowen

TD Cowen reissued their hold rating on shares of Warner Bros. Discovery (NASDAQ:WBD) in a research note issued to investors on Tuesday morning, Marketbeat.com reports. TD Cowen currently has a $14.00 target price on the stock.

WBD has been the subject of a number of other research reports. Raymond James Financial cut their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Morgan Stanley upped their price target on Warner Bros. Discovery from $10.00 to $13.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Argus upgraded Warner Bros. Discovery to a “hold” rating in a research report on Tuesday, May 27th. Bank of America boosted their price objective on Warner Bros. Discovery from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, July 1st. Finally, Barrington Research restated an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $13.25.

Warner Bros. Discovery Stock Up 3.9%

WBD opened at $18.70 on Tuesday. The business has a 50 day moving average of $12.97 and a 200-day moving average of $10.87. The stock has a market capitalization of $46.30 billion, a price-to-earnings ratio of 62.34, a P/E/G ratio of 2.40 and a beta of 1.59. 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 has a 1-year low of $7.25 and a 1-year high of $19.59.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.79. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same quarter in the previous year, the firm posted ($4.07) earnings per share. Warner Bros. Discovery’s revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Warner Bros. Discovery will post -4.33 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Bruce Campbell sold 150,000 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the sale, the insider owned 252,464 shares of the company’s stock, valued at approximately $4,544,352. This trade represents a 37.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the sale, the chief financial officer owned 1,141,150 shares in the company, valued at $22,252,425. This trade represents a 31.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 970,115 shares of company stock valued at $17,818,490. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. WPG Advisers LLC acquired a new stake in Warner Bros. Discovery during the 1st quarter valued at $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Warner Bros. Discovery during the first quarter worth approximately $27,000. North Capital Inc. acquired a new stake in shares of Warner Bros. Discovery during the 1st quarter worth $28,000. Smallwood Wealth Investment Management LLC bought a new position in Warner Bros. Discovery in the 1st quarter valued at about $29,000. Finally, Financial Gravity Companies Inc. bought a new position in Warner Bros. Discovery in the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

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.