Warner Bros. Discovery, Inc. (NASDAQ:WBD) Receives $11.75 Consensus Price Target from Brokerages

Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twenty-one analysts that are covering the stock, Marketbeat reports. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $11.91.

A number of research analysts recently commented on WBD shares. The Goldman Sachs Group increased their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a "neutral" rating in a research note on Thursday, December 19th. Rosenblatt Securities increased their target price on Warner Bros. Discovery from $9.00 to $13.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. Wolfe Research raised Warner Bros. Discovery from an "underperform" rating to a "peer perform" rating in a research note on Monday, November 11th. Benchmark reissued a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Finally, Barclays increased their target price on Warner Bros. Discovery from $10.00 to $12.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the firm's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the sale, the insider now directly owns 599,317 shares in the company, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Piazza Samuel A. Jr. Di acquired 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 acquisition, the director now directly owns 159,932 shares of the company's stock, valued at $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Warner Bros. Discovery

Several large investors have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $14,547,000. Polar Asset Management Partners Inc. purchased a new position in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $3,022,000. Ameriflex Group Inc. purchased a new position in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $30,000. Forum Financial Management LP lifted its holdings in shares of Warner Bros. Discovery by 201.5% during the fourth quarter. Forum Financial Management LP now owns 43,203 shares of the company's stock valued at $457,000 after purchasing an additional 28,874 shares during the last quarter. Finally, Michels Family Financial LLC purchased a new position in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $497,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock traded up $0.11 during trading on Friday, hitting $11.43. The stock had a trading volume of 40,442,219 shares, compared to its average volume of 30,004,672. The firm has a market cap of $28.04 billion, a price-to-earnings ratio of -2.50, a P/E/G ratio of 8.64 and a beta of 1.49. Warner Bros. Discovery has a 12 month low of $6.64 and a 12 month high of $12.70. The business's 50-day moving average is $10.36 and its 200 day moving average is $9.34. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

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 the consensus estimate of $0.10 by ($0.30). The firm had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. As a group, sell-side analysts anticipate that Warner Bros. Discovery will post -4.33 earnings per share for the current year.

Warner Bros. Discovery Company Profile

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.