Moffett Nathanson Forecasts Strong Price Appreciation for Warner Bros. Discovery (NASDAQ:WBD) Stock

Warner Bros. Discovery (NASDAQ:WBD) had its target price lifted by analysts at Moffett Nathanson from $23.00 to $26.00 in a report issued on Friday,MarketScreener reports. The brokerage currently has a “buy” rating on the stock. Moffett Nathanson’s target price would suggest a potential upside of 14.69% from the company’s current price.

Several other research analysts also recently weighed in on the company. Rothschild Redb upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. The Goldman Sachs Group upped their target price on Warner Bros. Discovery from $11.50 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, September 30th. TD Cowen reiterated a “hold” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a research report on Tuesday, September 16th. Weiss Ratings raised Warner Bros. Discovery from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Finally, Cowen cut Warner Bros. Discovery from a “buy” rating to a “hold” rating in a report on Tuesday, September 16th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.57.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $22.67 on Friday. Warner Bros. Discovery has a 12-month low of $7.52 and a 12-month high of $23.06. The firm has a market cap of $56.13 billion, a price-to-earnings ratio of 75.57, a price-to-earnings-growth ratio of 2.56 and a beta of 1.74. The company’s 50-day moving average is $18.44 and its two-hundred day moving average is $13.47. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $9.05 billion during the quarter, compared to analyst estimates of $9.17 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The business’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. Research analysts expect that Warner Bros. Discovery will post -4.33 EPS for the current year.

Insider Activity at Warner Bros. Discovery

In related news, insider Bruce Campbell sold 289,322 shares of the company’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 sale, the insider directly owned 402,464 shares of the company’s stock, valued at approximately $6,632,606.72. This represents a 41.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anton J. Levy purchased 250,000 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was bought at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the completion of the acquisition, the director owned 874,000 shares in the company, valued at $9,526,600. This represents a 40.06% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have sold 1,192,325 shares of company stock worth $22,818,215. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Warner Bros. Discovery

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Voya Investment Management LLC lifted its stake in Warner Bros. Discovery by 34.9% in the 1st quarter. Voya Investment Management LLC now owns 7,035,842 shares of the company’s stock worth $75,495,000 after acquiring an additional 1,820,249 shares in the last quarter. Bfsg LLC increased its holdings in shares of Warner Bros. Discovery by 11.2% in the 2nd quarter. Bfsg LLC now owns 156,906 shares of the company’s stock valued at $1,798,000 after purchasing an additional 15,786 shares during the period. Country Club Bank increased its holdings in shares of Warner Bros. Discovery by 54.3% in the 2nd quarter. Country Club Bank now owns 502,878 shares of the company’s stock valued at $5,683,000 after purchasing an additional 176,994 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Warner Bros. Discovery in the second quarter worth approximately $4,089,000. Finally, Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Warner Bros. Discovery by 4.3% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 878,600 shares of the company’s stock worth $10,069,000 after purchasing an additional 36,100 shares during the period. 59.95% of the stock is owned by hedge funds and other 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.