Guggenheim Issues Positive Forecast for Warner Bros. Discovery (NASDAQ:WBD) Stock Price

Warner Bros. Discovery (NASDAQ:WBD) had its price target upped by Guggenheim from $22.00 to $25.00 in a report published on Friday,MarketScreener reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently commented on WBD. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, September 12th. KeyCorp reissued a “sector weight” rating on shares of Warner Bros. Discovery in a report on Friday, September 26th. Morgan Stanley upped their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, September 25th. Moffett Nathanson lifted their target price on Warner Bros. Discovery from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Friday. Finally, Cowen cut Warner Bros. Discovery from a “buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.70.

Warner Bros. Discovery Trading Up 1.1%

NASDAQ WBD traded up $0.25 on Friday, reaching $22.67. The company had a trading volume of 30,888,063 shares, compared to its average volume of 48,709,063. Warner Bros. Discovery has a 52 week low of $7.52 and a 52 week high of $23.06. The stock’s 50 day moving average is $18.44 and its 200-day moving average is $13.47. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. The stock has a market cap of $56.13 billion, a price-to-earnings ratio of 75.57, a PEG ratio of 2.56 and a beta of 1.74.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $9.05 billion for the quarter, compared to the consensus estimate of $9.17 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.Warner Bros. Discovery’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the business posted $0.05 EPS. Equities analysts predict 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 news, Director Anton J. Levy purchased 75,000 shares of Warner Bros. Discovery stock in a transaction on Tuesday, August 12th. The stock was purchased at an average price of $11.00 per share, with a total value of $825,000.00. Following the transaction, the director directly owned 949,000 shares in the company, valued at $10,439,000. The trade was a 8.58% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Bruce Campbell sold 150,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the completion of the sale, the insider owned 252,464 shares in the company, valued at $4,544,352. This trade represents a 37.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,192,325 shares of company stock worth $22,818,215. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Warner Bros. Discovery by 7.1% in the third quarter. Vanguard Group Inc. now owns 281,214,155 shares of the company’s stock valued at $5,492,112,000 after acquiring an additional 18,736,600 shares during the last quarter. Geode Capital Management LLC grew its stake in Warner Bros. Discovery by 0.9% in the second 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 position in shares of Warner Bros. Discovery by 2.8% during the 2nd quarter. Invesco Ltd. now owns 44,574,492 shares of the company’s stock worth $510,824,000 after purchasing an additional 1,233,195 shares during the last quarter. Sessa Capital IM L.P. raised its stake in shares of Warner Bros. Discovery by 4.0% during the 1st quarter. Sessa Capital IM L.P. now owns 29,555,277 shares of the company’s stock worth $317,128,000 after purchasing an additional 1,144,849 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Warner Bros. Discovery in the 2nd quarter valued at approximately $306,848,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

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.