Needham & Company LLC reissued their hold rating on shares of Warner Bros. Discovery (NASDAQ:WBD – Free Report) in a report published on Friday,Benzinga reports.
Several other analysts also recently issued reports on the stock. Bank of America raised their price objective on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, July 1st. Benchmark reissued a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Raymond James Financial decreased their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Argus raised shares of Warner Bros. Discovery to a “hold” rating in a research note on Tuesday, May 27th. Finally, Barrington Research reissued an “outperform” rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.20.
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Warner Bros. Discovery Stock Up 16.7%
Shares of NASDAQ:WBD opened at $18.87 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery has a 12 month low of $7.25 and a 12 month high of $19.33. The company has a 50-day moving average price of $12.40 and a 200 day moving average price of $10.66. The company has a market cap of $46.72 billion, a price-to-earnings ratio of 62.90, a PEG ratio of 2.51 and a beta of 1.59.
Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.79. The firm had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($4.07) EPS. As a group, equities research analysts predict that Warner Bros. Discovery will post -4.33 earnings per share for the current year.
Insider Buying and Selling
In other Warner Bros. Discovery news, Director Anton J. Levy acquired 250,000 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The shares were bought at an average cost of $10.90 per share, with a total value of $2,725,000.00. Following the completion of the acquisition, the director directly owned 874,000 shares in the company, valued at $9,526,600. This represents a 40.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruce Campbell sold 289,322 shares of Warner Bros. Discovery stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $16.48, for a total transaction of $4,768,026.56. Following the transaction, the insider directly owned 402,464 shares in the company, valued at approximately $6,632,606.72. The trade was a 41.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
Hedge Funds Weigh In On Warner Bros. Discovery
Several institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. increased its holdings in Warner Bros. Discovery by 90.7% during the second quarter. Osaic Holdings Inc. now owns 640,286 shares of the company’s stock valued at $7,335,000 after buying an additional 304,575 shares during the period. Orion Porfolio Solutions LLC increased its holdings in Warner Bros. Discovery by 8.9% during the second quarter. Orion Porfolio Solutions LLC now owns 30,988 shares of the company’s stock valued at $355,000 after buying an additional 2,526 shares during the period. Thrivent Financial for Lutherans increased its holdings in Warner Bros. Discovery by 52.8% during the second quarter. Thrivent Financial for Lutherans now owns 6,963,870 shares of the company’s stock valued at $79,805,000 after buying an additional 2,407,202 shares during the period. Marex Group plc purchased a new position in Warner Bros. Discovery during the second quarter valued at approximately $235,000. Finally, State of Wyoming purchased a new position in Warner Bros. Discovery during the second quarter valued at approximately $2,365,000. 59.95% of the stock is owned by hedge funds and other institutional investors.
Warner Bros. Discovery Company Profile
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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.
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