Warner Bros. Discovery, Inc. (NASDAQ:WBD) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twenty-one brokerages that are presently covering the firm, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $12.01.

A number of research firms recently issued reports on WBD. Wells Fargo & Company dropped their price target on shares of Warner Bros. Discovery from $11.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Benchmark reiterated a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Rosenblatt Securities restated a "neutral" rating and set a $13.00 price target on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Barrington Research reiterated an "outperform" rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. increased their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock traded up $0.09 during trading hours on Monday, reaching $8.59. The stock had a trading volume of 24,510,405 shares, compared to its average volume of 32,999,193. Warner Bros. Discovery has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $21.09 billion, a PE ratio of -1.88, a PEG ratio of 8.64 and a beta of 1.43. The stock's 50 day moving average is $9.81 and its 200 day moving average is $9.77.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. Equities analysts expect that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the purchase, the director now directly owns 159,932 shares in the company, valued at $1,824,824.12. This represents a 12.17 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new stake in Warner Bros. Discovery in the third quarter valued at approximately $1,545,000. Tidal Investments LLC grew its stake in shares of Warner Bros. Discovery by 89.5% in the third quarter. Tidal Investments LLC now owns 142,649 shares of the company's stock valued at $1,177,000 after buying an additional 67,355 shares in the last quarter. Synovus Financial Corp raised its holdings in shares of Warner Bros. Discovery by 17.3% in the 3rd quarter. Synovus Financial Corp now owns 69,192 shares of the company's stock valued at $571,000 after buying an additional 10,199 shares during the period. Franklin Resources Inc. lifted its stake in Warner Bros. Discovery by 111.0% during the 3rd quarter. Franklin Resources Inc. now owns 375,462 shares of the company's stock worth $2,831,000 after acquiring an additional 197,528 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Warner Bros. Discovery by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company's stock valued at $21,281,000 after acquiring an additional 78,653 shares during the period. 59.95% of the stock is owned by hedge funds and other 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.