Sanford C. Bernstein Forecasts Strong Price Appreciation for Warner Bros. Discovery (NASDAQ:WBD) Stock

Warner Bros. Discovery (NASDAQ:WBD) had its price objective raised by research analysts at Sanford C. Bernstein from $16.00 to $23.50 in a research report issued on Friday,MarketScreener reports. Sanford C. Bernstein’s price target points to a potential upside of 3.66% from the stock’s current price.

WBD has been the topic of several other research reports. Redburn Partners set a $28.00 target price on shares of Warner Bros. Discovery in a report on Thursday, October 30th. Arete lifted their price target on shares of Warner Bros. Discovery from $24.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, September 12th. Rothschild & Co Redburn upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Thursday, October 30th. Finally, The Goldman Sachs Group lifted their target price on Warner Bros. Discovery from $11.50 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday, September 30th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.57.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $22.67 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery has a twelve month low of $7.52 and a twelve month high of $23.06. The business has a 50-day moving average price of $18.44 and a 200-day moving average price of $13.47. 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.

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

Insider Activity

In other news, CFO Gunnar Wiedenfels sold 222,210 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $22.50, for a total value of $4,999,725.00. Following the completion of the sale, the chief financial officer owned 918,940 shares in the company, valued at approximately $20,676,150. This trade represents a 19.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruce Campbell sold 150,000 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the transaction, the insider owned 252,464 shares in the company, valued at $4,544,352. The trade was a 37.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,192,325 shares of company stock valued at $22,818,215. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Warner Bros. Discovery

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