Warner Bros. Discovery’s (WBD) Hold Rating Reaffirmed at TD Cowen

TD Cowen reaffirmed their hold rating on shares of Warner Bros. Discovery (NASDAQ:WBD) in a report issued on Tuesday, MarketBeat Ratings reports. The firm currently has a $14.00 price objective on the stock.

A number of other brokerages also recently issued reports on WBD. Raymond James Financial reduced their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, September 12th. UBS Group upped their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Huber Research upgraded Warner Bros. Discovery from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, June 9th. Finally, KeyCorp reduced their price target on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $13.25.

Warner Bros. Discovery Trading Down 6.2%

Shares of Warner Bros. Discovery stock opened at $18.25 on Tuesday. Warner Bros. Discovery has a 12-month low of $7.25 and a 12-month high of $19.59. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $45.18 billion, a P/E ratio of 60.84, a price-to-earnings-growth ratio of 2.59 and a beta of 1.59. The stock has a fifty day simple moving average of $12.70 and a 200 day simple moving average of $10.76.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.79. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The firm had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same quarter in the prior year, the business posted ($4.07) EPS. The business’s revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Warner Bros. Discovery

In other news, Director Anton J. Levy purchased 250,000 shares of the business’s stock in a transaction on Monday, August 11th. The stock was purchased at an average cost of $10.90 per share, with a total value of $2,725,000.00. Following the acquisition, the director directly owned 874,000 shares in the company, valued at approximately $9,526,600. This trade represents a 40.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bruce Campbell sold 289,322 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $16.48, for a total transaction of $4,768,026.56. Following the completion of the transaction, the insider directly owned 402,464 shares of the company’s stock, valued at approximately $6,632,606.72. The trade was a 41.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 970,115 shares of company stock valued at $17,818,490 in the last three months. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Warner Bros. Discovery

Hedge funds have recently bought and sold shares of the stock. Summit Investment Advisors Inc. lifted its holdings in shares of Warner Bros. Discovery by 0.8% during the 1st quarter. Summit Investment Advisors Inc. now owns 101,522 shares of the company’s stock worth $1,089,000 after acquiring an additional 795 shares during the last quarter. Premier Path Wealth Partners LLC lifted its holdings in shares of Warner Bros. Discovery by 0.6% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 134,943 shares of the company’s stock worth $1,546,000 after acquiring an additional 857 shares during the last quarter. Eastern Bank lifted its stake in Warner Bros. Discovery by 11.6% during the second quarter. Eastern Bank now owns 8,452 shares of the company’s stock worth $97,000 after purchasing an additional 879 shares during the last quarter. Holistic Financial Partners lifted its stake in Warner Bros. Discovery by 5.2% during the second quarter. Holistic Financial Partners now owns 18,209 shares of the company’s stock worth $209,000 after purchasing an additional 898 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in Warner Bros. Discovery by 12.4% during the second quarter. Parkside Financial Bank & Trust now owns 8,164 shares of the company’s stock worth $94,000 after purchasing an additional 899 shares during the last quarter. 59.95% of the stock is currently 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.