Warner Bros. Discovery, Inc. (NASDAQ:WBD) Receives Consensus Recommendation of “Hold” from Brokerages

Warner Bros. Discovery, Inc. (NASDAQ:WBD) has been given an average rating of “Hold” by the twenty-two research firms that are currently covering the stock, MarketBeat.com reports. Twelve analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $11.44.

A number of analysts have issued reports on the company. Macquarie lifted their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Rosenblatt Securities upped their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. 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 note on Friday, November 8th. Guggenheim increased their price target on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Barclays lifted their price target on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery 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. The trade was a 22.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Warner Bros. Discovery

Hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its position in Warner Bros. Discovery by 4.1% during the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after acquiring an additional 5,898,611 shares in the last quarter. Sessa Capital IM L.P. boosted its position in Warner Bros. Discovery by 24.7% during the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after purchasing an additional 5,625,545 shares in the last quarter. Retirement Systems of Alabama grew its stake in Warner Bros. Discovery by 781.3% in the second quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock valued at $32,115,000 after purchasing an additional 3,826,715 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Warner Bros. Discovery by 1,216.7% in the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after purchasing an additional 2,780,986 shares in the last quarter. Finally, Drexel Morgan & Co. lifted its position in shares of Warner Bros. Discovery by 43.5% during the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock valued at $54,454,000 after buying an additional 2,000,000 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

WBD stock opened at $10.69 on Tuesday. The company has a market capitalization of $26.22 billion, a PE ratio of -2.33 and a beta of 1.52. The company’s fifty day moving average price is $9.44 and its 200-day moving average price is $8.34. Warner Bros. Discovery has a one year low of $6.64 and a one year high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the prior year, the firm earned ($0.17) EPS. The business’s revenue was down 3.6% on a year-over-year basis. On average, equities analysts anticipate that Warner Bros. Discovery will post -4.37 EPS 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.