TD Cowen reaffirmed their hold rating on shares of Warner Bros. Discovery (NASDAQ:WBD – Free Report) in a research report report published on Tuesday, MarketBeat Ratings reports. They currently have a $14.00 price target on the stock.
WBD has been the subject of a number of other research reports. Morgan Stanley boosted their target price on Warner Bros. Discovery from $10.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, September 12th. Argus upgraded Warner Bros. Discovery to a “hold” rating in a research report on Tuesday, May 27th. Barclays upped their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company an “equal weight” rating in a report on Wednesday, July 9th. Finally, Guggenheim reiterated a “buy” rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $13.25.
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Warner Bros. Discovery Trading Down 6.2%
Shares of WBD opened at $18.25 on Tuesday. The firm has a market cap of $45.18 billion, a price-to-earnings ratio of 60.84, a PEG ratio of 2.59 and a beta of 1.59. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. Warner Bros. Discovery has a fifty-two week low of $7.25 and a fifty-two week high of $19.59. The firm has a 50 day moving average price of $12.70 and a 200-day moving average price of $10.76.
Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.79. The business 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% on a year-over-year basis. During the same period in the previous year, the firm posted ($4.07) earnings per share. As a group, equities research analysts forecast that Warner Bros. Discovery will post -4.33 earnings per share for the current year.
Insider Buying and Selling at Warner Bros. Discovery
In other Warner Bros. Discovery news, Director Anton J. Levy bought 250,000 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was acquired at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the completion of the purchase, the director owned 874,000 shares of the company’s stock, valued at approximately $9,526,600. This trade represents a 40.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $19.50, for a total value of $10,350,463.50. Following the transaction, the chief financial officer directly owned 1,141,150 shares of the company’s stock, valued at approximately $22,252,425. This trade represents a 31.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 970,115 shares of company stock valued at $17,818,490. Corporate insiders own 1.80% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in WBD. Vanguard Group Inc. increased its holdings in shares of Warner Bros. Discovery by 2.2% during the second quarter. Vanguard Group Inc. now owns 262,477,555 shares of the company’s stock valued at $3,007,993,000 after acquiring an additional 5,657,524 shares in the last quarter. Geode Capital Management LLC increased its stake in Warner Bros. Discovery by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 60,091,463 shares of the company’s stock valued at $685,798,000 after purchasing an additional 551,548 shares in the last quarter. Invesco Ltd. increased its stake in Warner Bros. Discovery by 2.8% during the 2nd quarter. Invesco Ltd. now owns 44,574,492 shares of the company’s stock valued at $510,824,000 after purchasing an additional 1,233,195 shares in the last quarter. Sessa Capital IM L.P. increased its position in shares of Warner Bros. Discovery by 4.0% during the first quarter. Sessa Capital IM L.P. now owns 29,555,277 shares of the company’s stock valued at $317,128,000 after acquiring an additional 1,144,849 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Warner Bros. Discovery during the second quarter valued at approximately $306,848,000. Institutional investors own 59.95% of the company’s stock.
About Warner Bros. Discovery
(Get Free Report)
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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