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

Warner Bros. Discovery (NASDAQ:WBD) had its target price boosted by equities researchers at The Goldman Sachs Group from $9.50 to $10.75 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 2.28% from the company’s current price.

WBD has been the subject of a number of other research reports. Benchmark restated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Barclays upped their target price on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Bank of America reissued a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. KeyCorp lifted their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Finally, Rosenblatt Securities upped their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Twelve research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.44.

Warner Bros. Discovery Stock Down 1.1 %

Shares of NASDAQ:WBD traded down $0.12 during trading on Thursday, hitting $10.51. The company’s stock had a trading volume of 5,408,952 shares, compared to its average volume of 29,581,549. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. Warner Bros. Discovery has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The company has a market capitalization of $25.78 billion, a PE ratio of -2.29 and a beta of 1.52. The business has a 50 day moving average price of $9.32 and a two-hundred day moving average price of $8.31.

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

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the transaction, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Trading of Warner Bros. Discovery

A number of institutional investors have recently bought and sold shares of WBD. Franklin Resources Inc. grew its stake in Warner Bros. Discovery by 111.0% during the third quarter. Franklin Resources Inc. now owns 375,462 shares of the company’s stock worth $2,831,000 after buying an additional 197,528 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of Warner Bros. Discovery by 17.3% during the third quarter. Synovus Financial Corp now owns 69,192 shares of the company’s stock worth $571,000 after purchasing an additional 10,199 shares during the last quarter. Tidal Investments LLC grew its holdings in Warner Bros. Discovery by 89.5% during the 3rd quarter. Tidal Investments LLC now owns 142,649 shares of the company’s stock worth $1,177,000 after acquiring an additional 67,355 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Warner Bros. Discovery during the third quarter worth $1,545,000. Finally, Coldstream Capital Management Inc. lifted its holdings in Warner Bros. Discovery by 18.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 26,307 shares of the company’s stock worth $219,000 after buying an additional 4,176 shares during the period. Institutional investors own 59.95% of the company’s stock.

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.