Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $26.00

Warner Bros. Discovery (NASDAQ:WBD) had its price target raised by Deutsche Bank Aktiengesellschaft from $23.00 to $26.00 in a research note released on Thursday,MarketScreener reports. They currently have a buy rating on the stock.

A number of other analysts have also commented on the company. Seaport Global Securities lifted their price target on Warner Bros. Discovery from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Rothschild Redb raised shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. Argus set a $27.00 price target on shares of Warner Bros. Discovery in a research report on Tuesday, October 28th. Guggenheim lifted their price target on shares of Warner Bros. Discovery from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Finally, TD Cowen increased their price objective on Warner Bros. Discovery from $14.00 to $22.00 in a report on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.92.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $23.03 on Thursday. The company’s 50 day moving average price is $19.53 and its two-hundred day moving average price is $13.96. The firm has a market capitalization of $57.02 billion, a P/E ratio of 76.77, a P/E/G ratio of 2.56 and a beta of 1.74. Warner Bros. Discovery has a fifty-two week low of $7.52 and a fifty-two week high of $23.19. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $9.17 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The firm’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 earnings per share. On average, equities analysts forecast that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Warner Bros. Discovery news, insider Bruce Campbell sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $18.00, for a total value of $2,700,000.00. Following the transaction, the insider directly owned 252,464 shares of the company’s stock, valued at approximately $4,544,352. The trade was a 37.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gunnar Wiedenfels sold 222,210 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $22.50, for a total value of $4,999,725.00. Following the transaction, the chief financial officer owned 918,940 shares in the company, valued at $20,676,150. The trade was a 19.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,192,325 shares of company stock valued at $22,818,215. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Warner Bros. Discovery by 7.1% in the third quarter. Vanguard Group Inc. now owns 281,214,155 shares of the company’s stock valued at $5,492,112,000 after purchasing an additional 18,736,600 shares during the last quarter. Geode Capital Management LLC grew its position in Warner Bros. Discovery by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 60,091,463 shares of the company’s stock worth $685,798,000 after purchasing an additional 551,548 shares in the last quarter. Invesco Ltd. increased its stake in Warner Bros. Discovery by 2.8% in the 2nd quarter. Invesco Ltd. now owns 44,574,492 shares of the company’s stock valued at $510,824,000 after buying an additional 1,233,195 shares during the last quarter. Sessa Capital IM L.P. lifted its position in shares of Warner Bros. Discovery by 4.0% during the 1st quarter. Sessa Capital IM L.P. now owns 29,555,277 shares of the company’s stock worth $317,128,000 after buying an additional 1,144,849 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Warner Bros. Discovery in the 2nd quarter worth approximately $306,848,000. 59.95% of the stock is currently owned by institutional investors.

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.