Warner Bros. Discovery, Inc. (NASDAQ:WBD) Given Average Recommendation of “Hold” by Analysts

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) have received a consensus recommendation of “Hold” from the twenty-one research firms that are presently covering the company, MarketBeat reports. Eleven equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $11.56.

A number of equities analysts have weighed in on the stock. Bank of America reissued a “buy” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. KeyCorp raised their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Raymond James upped their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Guggenheim lifted their price target on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th.

Warner Bros. Discovery Price Performance

WBD stock opened at $9.79 on Friday. The stock has a 50-day simple moving average of $10.36 and a 200-day simple moving average of $8.69. The firm has a market cap of $24.02 billion, a P/E ratio of -2.14 and a beta of 1.50. 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 has a 1 year low of $6.64 and a 1 year high of $12.70.

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

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the transaction, 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 transaction 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 Investors Weigh In On Warner Bros. Discovery

Large investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new position in Warner Bros. Discovery in the 3rd quarter worth approximately $41,000. Larson Financial Group LLC grew its stake in shares of Warner Bros. Discovery by 54.1% in the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after purchasing an additional 1,754 shares in the last quarter. Quarry LP increased its holdings in shares of Warner Bros. Discovery by 2,185.1% during the second quarter. Quarry LP now owns 6,307 shares of the company’s stock valued at $47,000 after purchasing an additional 6,031 shares during the period. Rosenberg Matthew Hamilton raised its stake in shares of Warner Bros. Discovery by 448.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after purchasing an additional 3,743 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Warner Bros. Discovery in the third quarter worth about $51,000. 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.