Warner Bros. Discovery (NASDAQ:WBD) Stock Price Expected to Rise, Citigroup Analyst Says

Warner Bros. Discovery (NASDAQ:WBD) had its price objective boosted by Citigroup from $13.00 to $15.00 in a research note released on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

WBD has been the topic of several other reports. JPMorgan Chase & Co. raised their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Barrington Research restated an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday. Bank of America restated a “buy” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Benchmark restated a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Finally, Barclays raised their price objective on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $11.91.

Warner Bros. Discovery Stock Up 3.5 %

WBD opened at $11.07 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a market capitalization of $27.16 billion, a PE ratio of -2.42, a PEG ratio of 8.64 and a beta of 1.48. The firm’s 50 day simple moving average is $10.38 and its two-hundred day simple moving average is $9.36.

Warner Bros. Discovery (NASDAQ:WBD) last released 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%. As a group, equities analysts forecast that Warner Bros. Discovery will post -4.33 EPS for the current year.

Insiders Place Their Bets

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now owns 159,932 shares of the company’s stock, valued at $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Warner Bros. Discovery by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company’s stock valued at $2,670,519,000 after buying an additional 1,658,415 shares in the last quarter. State Street Corp lifted its holdings in Warner Bros. Discovery by 4.1% during the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after buying an additional 5,898,611 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Warner Bros. Discovery by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company’s stock valued at $605,633,000 after buying an additional 1,991,441 shares in the last quarter. Norges Bank bought a new stake in Warner Bros. Discovery during the 4th quarter valued at about $362,210,000. Finally, Sessa Capital IM L.P. lifted its holdings in 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 valued at $234,386,000 after buying an additional 5,625,545 shares in the last quarter. 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.