Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $30.00

Warner Bros. Discovery (NASDAQ:WBD) had its price objective hoisted by Arete from $24.00 to $30.00 in a report issued on Tuesday,MarketScreener reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently commented on WBD. Singular Research raised Warner Bros. Discovery to a “moderate buy” rating in a research note on Wednesday, October 22nd. TD Cowen reiterated a “hold” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a report on Tuesday, September 16th. Cowen downgraded Warner Bros. Discovery from a “buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Moffett Nathanson upped their price target on Warner Bros. Discovery from $14.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Finally, UBS Group upped their price target on Warner Bros. Discovery from $10.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.91.

Warner Bros. Discovery Trading Up 1.3%

Warner Bros. Discovery stock opened at $21.62 on Tuesday. The company’s fifty day simple moving average is $17.17 and its 200-day simple moving average is $12.82. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery has a 12 month low of $7.52 and a 12 month high of $21.84. The stock has a market cap of $53.53 billion, a P/E ratio of 72.07, a P/E/G ratio of 2.56 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD) last issued its 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. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter in the previous year, the company posted ($4.07) earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Bruce Campbell sold 150,000 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $18.00, for a total value of $2,700,000.00. Following the completion of the sale, the insider directly owned 252,464 shares of the company’s stock, valued at $4,544,352. This represents a 37.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the completion of the sale, the chief financial officer owned 1,141,150 shares of the company’s stock, valued at approximately $22,252,425. The trade was a 31.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 970,115 shares of company stock valued at $17,818,490 in the last ninety days. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Warner Bros. Discovery

A number of hedge funds have recently modified their holdings of the company. Parkside Financial Bank & Trust lifted its position in shares of Warner Bros. Discovery by 9.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 8,922 shares of the company’s stock worth $174,000 after acquiring an additional 758 shares during the period. iA Global Asset Management Inc. lifted its position in Warner Bros. Discovery by 4.6% in the third quarter. iA Global Asset Management Inc. now owns 286,664 shares of the company’s stock worth $5,599,000 after purchasing an additional 12,668 shares during the period. Rakuten Investment Management Inc. bought a new position in Warner Bros. Discovery in the third quarter worth $718,000. Sage Mountain Advisors LLC bought a new position in Warner Bros. Discovery in the third quarter worth $268,000. Finally, Root Financial Partners LLC bought a new position in Warner Bros. Discovery in the third quarter worth $48,000. Institutional investors own 59.95% of the company’s stock.

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.