Warner Bros. Discovery, Inc. (NASDAQ:WBD) Receives $26.36 Consensus Target Price from Brokerages

Warner Bros. Discovery, Inc. (NASDAQ:WBD) has been assigned a consensus rating of “Hold” from the twenty-three ratings firms that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $27.0417.

Several research firms recently weighed in on WBD. Rothschild & Co Redburn set a $31.00 price objective on shares of Warner Bros. Discovery and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft lowered shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating and increased their price objective for the stock from $29.50 to $31.00 in a research note on Friday, February 27th. Wells Fargo & Company began coverage on shares of Warner Bros. Discovery in a research note on Monday, March 9th. They set an “equal weight” rating and a $31.00 price objective on the stock. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Sunday, March 8th. Finally, Weiss Ratings lowered shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $27.01 on Tuesday. The firm has a market cap of $67.72 billion, a PE ratio of -38.59 and a beta of 1.57. The firm’s 50-day simple moving average is $27.22 and its 200-day simple moving average is $27.25. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. Warner Bros. Discovery has a 1 year low of $9.11 and a 1 year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). The company had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.18) EPS. Equities analysts forecast that Warner Bros. Discovery will post -0.71 earnings per share for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Bruce Campbell sold 1,580,331 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $28.00, for a total value of $44,249,268.00. Following the completion of the transaction, the insider owned 690,028 shares in the company, valued at approximately $19,320,784. This represents a 69.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David Zaslav sold 4,004,149 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $28.26, for a total transaction of $113,157,250.74. Following the completion of the transaction, the chief executive officer owned 7,200,627 shares of the company’s stock, valued at $203,489,719.02. This trade represents a 35.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 8,206,827 shares of company stock worth $230,674,025 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Asset Dedication LLC boosted its holdings in Warner Bros. Discovery by 118.0% during the first quarter. Asset Dedication LLC now owns 1,249 shares of the company’s stock worth $34,000 after buying an additional 676 shares in the last quarter. Carlson Capital L.P. boosted its holdings in Warner Bros. Discovery by 140.0% during the first quarter. Carlson Capital L.P. now owns 96,000 shares of the company’s stock worth $2,636,000 after buying an additional 56,000 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in Warner Bros. Discovery by 2.8% during the first quarter. Glenmede Trust Co. NA now owns 54,180 shares of the company’s stock worth $1,488,000 after buying an additional 1,468 shares in the last quarter. Axiom Investment Management LLC bought a new stake in Warner Bros. Discovery during the first quarter worth approximately $39,000. Finally, Groupama Asset Managment bought a new stake in Warner Bros. Discovery during the first quarter worth approximately $366,000. 59.95% of the stock is currently owned by institutional investors.

About Warner Bros. Discovery

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.