Warner Bros. Discovery, Inc. (NASDAQ:WBD) Receives Average Recommendation of “Hold” from Brokerages

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) have received an average rating of “Hold” from the twenty-four ratings firms that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $26.3553.

A number of analysts have commented on the stock. KeyCorp reaffirmed an “overweight” rating on shares of Warner Bros. Discovery in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft lowered shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating and upped their price objective for the company from $29.50 to $31.00 in a research note on Friday, February 27th. TD Cowen upped their price objective on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, February 27th. Wells Fargo & Company assumed coverage on shares of Warner Bros. Discovery in a research note on Monday, March 9th. They set an “equal weight” rating and a $31.00 price objective for the company. Finally, UBS Group upped their price objective on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th.

Warner Bros. Discovery Price Performance

WBD stock opened at $27.03 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery has a one year low of $8.84 and a one year high of $30.00. The firm has a market capitalization of $67.77 billion, a PE ratio of -38.61 and a beta of 1.57. The firm has a 50-day moving average of $27.25 and a two-hundred day moving average of $27.16.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The firm had revenue of $8.89 billion for the quarter, compared to analysts’ expectations of $8.89 billion. During the same period in the prior year, the company posted ($0.18) earnings per share. Warner Bros. Discovery’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, analysts forecast that Warner Bros. Discovery will post -0.71 earnings per share for the current year.

Insider Activity at Warner Bros. Discovery

In other news, Director Fazal F. Merchant sold 35,000 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $27.48, for a total value of $961,800.00. Following the completion of the sale, the director directly owned 95,539 shares of the company’s stock, valued at $2,625,411.72. This represents a 26.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul A. Gould sold 600,000 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the completion of the sale, the director directly owned 244,357 shares of the company’s stock, valued at $6,683,163.95. This trade represents a 71.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 8,206,827 shares of company stock valued at $230,674,025. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of Warner Bros. Discovery

Hedge funds have recently made changes to their positions in the stock. Swiss RE Ltd. purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $26,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $29,000. MV Capital Management Inc. purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $30,000. Rakuten Securities Inc. lifted its position in shares of Warner Bros. Discovery by 81.5% in the fourth quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock worth $33,000 after purchasing an additional 521 shares in the last quarter. Finally, TOWER TRUST & INVESTMENT Co lifted its position in shares of Warner Bros. Discovery by 4,730.8% in the fourth quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company’s stock worth $36,000 after purchasing an additional 1,230 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.