The Goldman Sachs Group Issues Positive Forecast for Warner Bros. Discovery (NASDAQ:WBD) Stock Price

Warner Bros. Discovery (NASDAQ:WBD) had its price objective boosted by The Goldman Sachs Group from $9.50 to $10.75 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Rosenblatt Securities lifted 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 note on Friday, December 13th. Raymond James increased their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Benchmark reaffirmed a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Finally, Guggenheim increased their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Twelve analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus price target of $11.44.

Warner Bros. Discovery Stock Down 1.3 %

Shares of NASDAQ WBD opened at $10.49 on Thursday. The company’s 50 day moving average price is $9.38 and its 200-day moving average price is $8.32. 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 52-week low of $6.64 and a 52-week high of $12.70. The company has a market capitalization of $25.73 billion, a P/E ratio of -2.29 and a beta of 1.52.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the previous year, the business earned ($0.17) earnings per share. Warner Bros. Discovery’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts forecast that Warner Bros. Discovery will post -4.37 earnings per share for the current year.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the sale, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Warner Bros. Discovery

Several institutional investors have recently modified their holdings of WBD. State Street Corp lifted its holdings in Warner Bros. Discovery by 4.1% during the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after acquiring an additional 5,898,611 shares during the period. Sessa Capital IM L.P. raised its stake in shares of Warner Bros. Discovery by 24.7% during the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after purchasing an additional 5,625,545 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of Warner Bros. Discovery by 781.3% in the 2nd quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock worth $32,115,000 after buying an additional 3,826,715 shares during the last quarter. Mackenzie Financial Corp grew its position in Warner Bros. Discovery by 1,216.7% during the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after buying an additional 2,780,986 shares during the period. Finally, Drexel Morgan & Co. increased its holdings in Warner Bros. Discovery by 43.5% during the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock worth $54,454,000 after buying an additional 2,000,000 shares during the last quarter. 59.95% of the stock is owned by institutional investors.

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.