Warner Bros. Discovery (NASDAQ:WBD) Given New $15.00 Price Target at Morgan Stanley

Warner Bros. Discovery (NASDAQ:WBD) had its price target boosted by Morgan Stanley from $13.00 to $15.00 in a research report report published on Thursday morning, Marketbeat reports. They currently have an equal weight rating on the stock.

Several other research firms have also commented on WBD. Guggenheim reaffirmed a “buy” rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. KeyCorp decreased 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 report on Friday, August 8th. Citigroup decreased their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, May 29th. Wells Fargo & Company lifted their price target on shares of Warner Bros. Discovery from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.07.

Warner Bros. Discovery Price Performance

WBD opened at $19.78 on Thursday. The company has a 50-day moving average of $13.71 and a 200-day moving average of $11.16. The company has a market capitalization of $48.97 billion, a P/E ratio of 65.94, a PEG ratio of 2.64 and a beta of 1.59. Warner Bros. Discovery has a 1-year low of $7.25 and a 1-year high of $20.24. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04.

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

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Bruce Campbell sold 289,322 shares of the business’s stock in a transaction dated 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 $6,632,606.72. The trade was a 41.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anton J. Levy bought 250,000 shares of Warner Bros. Discovery stock in a transaction on Monday, August 11th. The shares were purchased at an average cost of $10.90 per share, with a total value of $2,725,000.00. Following the completion of the purchase, the director directly owned 874,000 shares in the company, valued at $9,526,600. This trade represents a 40.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 970,115 shares of company stock valued at $17,818,490 in the last ninety days. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Warner Bros. Discovery

A number of hedge funds and other institutional investors have recently made changes to their positions in WBD. WPG Advisers LLC bought a new stake in shares of Warner Bros. Discovery during the 1st quarter worth about $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Warner Bros. Discovery during the first quarter valued at approximately $27,000. North Capital Inc. acquired a new stake in Warner Bros. Discovery during the first quarter valued at approximately $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in Warner Bros. Discovery during the first quarter valued at approximately $29,000. Finally, Financial Gravity Companies Inc. acquired a new stake in Warner Bros. Discovery during the second quarter valued at approximately $29,000. 59.95% of the stock is currently owned by institutional investors.

About Warner Bros. Discovery

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.