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

Warner Bros. Discovery (NASDAQ:WBD) had its price objective upped by Citigroup from $13.00 to $15.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also weighed in on the stock. Bank of America reiterated a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Guggenheim increased their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Barrington Research reiterated an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a report on Wednesday. Finally, Barclays increased their target price on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.91.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $11.43 on Wednesday. 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 company has a market capitalization of $28.04 billion, a PE ratio of -2.50, a P/E/G ratio of 8.64 and a beta of 1.49. The firm has a fifty day simple moving average of $10.36 and a two-hundred day simple moving average of $9.34. Warner Bros. Discovery has a twelve month low of $6.64 and a twelve month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.30). The business had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Research analysts expect that Warner Bros. Discovery will post -4.33 EPS for the current year.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the transaction, the insider now owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now directly owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Warner Bros. Discovery

Institutional investors and hedge funds have recently made changes to their positions in the company. Colonial Trust Advisors increased its position in shares of Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after acquiring an additional 996 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. increased its position in shares of Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after acquiring an additional 1,940 shares in the last quarter. Graney & King LLC bought a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $28,000. Finally, Ethos Financial Group LLC bought a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $29,000. 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.