Cowen Upgrades Warner Bros. Discovery (NASDAQ:WBD) to Outperform

Warner Bros. Discovery (NASDAQ:WBDGet Rating) was upgraded by Cowen from a “market perform” rating to an “outperform” rating in a research note issued on Thursday, Briefing.com reports. The brokerage currently has a $24.00 price objective on the stock, down from their prior price objective of $31.00. Cowen’s target price points to a potential upside of 44.40% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Rosenblatt Securities started coverage on shares of Warner Bros. Discovery in a report on Tuesday, April 19th. They issued a “sell” rating for the company. Evercore ISI upgraded shares of Warner Bros. Discovery from an “in-line” rating to an “outperform” rating and set a $40.00 price target for the company in a report on Monday, April 11th. Atlantic Securities upgraded shares of Warner Bros. Discovery from a “neutral” rating to an “overweight” rating and set a $40.00 price target for the company in a report on Monday, April 11th. Bank of America started coverage on shares of Warner Bros. Discovery in a report on Wednesday, April 13th. They issued a “buy” rating and a $45.00 price target for the company. Finally, Barclays assumed coverage on shares of Warner Bros. Discovery in a report on Wednesday, April 27th. They issued an “equal weight” rating and a $24.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Buy” and a consensus price target of $34.60.

NASDAQ:WBD opened at $16.62 on Thursday. Warner Bros. Discovery has a twelve month low of $16.59 and a twelve month high of $27.50. The firm has a market cap of $40.33 billion, a PE ratio of 8.23, a price-to-earnings-growth ratio of 0.75 and a beta of 1.25. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBDGet Rating) last announced its quarterly earnings results on Tuesday, April 26th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.04 by $0.65. Warner Bros. Discovery had a return on equity of 10.38% and a net margin of 10.53%. On average, sell-side analysts anticipate that Warner Bros. Discovery will post 2.37 earnings per share for the current year.

In related news, CFO Gunnar Wiedenfels purchased 25,000 shares of the business’s stock in a transaction on Wednesday, April 27th. The shares were acquired at an average price of $19.95 per share, for a total transaction of $498,750.00. Following the purchase, the chief financial officer now owns 481,527 shares of the company’s stock, valued at approximately $9,606,463.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Leavy acquired 6,866 shares of the company’s stock in a transaction dated Thursday, April 28th. The stock was acquired at an average cost of $18.33 per share, for a total transaction of $125,853.78. Following the completion of the acquisition, the insider now directly owns 167,176 shares in the company, valued at $3,064,336.08. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 206,862 shares of company stock valued at $3,959,897. 6.07% of the stock is currently owned by company insiders.

Warner Bros. Discovery Company Profile (Get Rating)

Warner Bros. Discovery, Inc, a media company, provides content across various distribution platforms in approximately 50 languages worldwide. It also produces, develops, and distributes feature films, television, gaming, and other content in various physical and digital formats through basic networks, direct-to-consumer or theatrical, TV content, and games licensing.

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Analyst Recommendations for Warner Bros. Discovery (NASDAQ:WBD)

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