Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $10.75

Warner Bros. Discovery (NASDAQ:WBD) had its price target increased by The Goldman Sachs Group from $9.50 to $10.75 in a research note released on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

WBD has been the subject of a number of other reports. Rosenblatt Securities increased their price target 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. Barclays increased their target price on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, December 13th. Finally, Benchmark reiterated a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus target price of $11.44.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $10.69 on Thursday. Warner Bros. Discovery has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock’s 50-day simple moving average is $9.44 and its 200 day simple moving average is $8.34. The firm has a market capitalization of $26.22 billion, a PE ratio of -2.33 and a beta of 1.52.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company posted ($0.17) EPS. On average, analysts anticipate that Warner Bros. Discovery will post -4.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction on 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 of the company’s stock, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Warner Bros. Discovery

Large investors have recently made changes to their positions in the company. Commerce Bank boosted its holdings in Warner Bros. Discovery by 2.4% in the third quarter. Commerce Bank now owns 55,963 shares of the company’s stock worth $462,000 after acquiring an additional 1,286 shares in the last quarter. GAM Holding AG lifted its holdings in shares of Warner Bros. Discovery by 0.3% in the 3rd quarter. GAM Holding AG now owns 457,685 shares of the company’s stock worth $3,776,000 after purchasing an additional 1,437 shares in the last quarter. Waldron Private Wealth LLC grew its position in Warner Bros. Discovery by 5.4% in the 3rd quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock valued at $234,000 after purchasing an additional 1,461 shares during the period. PFG Investments LLC increased its stake in Warner Bros. Discovery by 1.4% during the 3rd quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock valued at $927,000 after purchasing an additional 1,517 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC raised its holdings in Warner Bros. Discovery by 13.1% during the third quarter. Dynamic Advisor Solutions LLC now owns 13,476 shares of the company’s stock worth $111,000 after buying an additional 1,565 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

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.