Warner Bros. Discovery (NASDAQ:WBD) Given New $10.75 Price Target at The Goldman Sachs Group

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

WBD has been the subject of a number of other research reports. Macquarie boosted their target price on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Bank of America restated a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Finally, KeyCorp lifted their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $11.44.

Warner Bros. Discovery Trading Down 1.3 %

Shares of NASDAQ:WBD opened at $10.49 on Thursday. Warner Bros. Discovery has a 12-month low of $6.64 and a 12-month high of $12.70. The business has a 50 day moving average of $9.38 and a 200-day moving average of $8.32. 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 stock has a market cap of $25.73 billion, a PE ratio of -2.29 and a beta of 1.52.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same period last year, the firm posted ($0.17) EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities research analysts forecast that Warner Bros. Discovery will post -4.37 earnings per share 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 stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the transaction, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. This trade represents a 22.04 % 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. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WBD. Family Firm Inc. acquired a new stake in Warner Bros. Discovery during the 2nd quarter worth approximately $26,000. Larson Financial Group LLC lifted its holdings in shares of Warner Bros. Discovery by 54.1% during the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after purchasing an additional 1,754 shares during the period. Future Financial Wealth Managment LLC acquired a new position in shares of Warner Bros. Discovery during the third quarter worth $41,000. Brooklyn Investment Group bought a new stake in shares of Warner Bros. Discovery in the third quarter worth $51,000. Finally, Quarry LP increased its holdings in Warner Bros. Discovery by 2,185.1% in the second quarter. Quarry LP now owns 6,307 shares of the company’s stock valued at $47,000 after purchasing an additional 6,031 shares during the period. Institutional investors and hedge funds 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.