TD Cowen Forecasts Strong Price Appreciation for Warner Bros. Discovery (NASDAQ:WBD) Stock

Warner Bros. Discovery (NASDAQ:WBD) had its target price raised by equities research analysts at TD Cowen from $14.00 to $22.00 in a report issued on Friday,MarketScreener reports. TD Cowen’s price objective suggests a potential downside of 2.96% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Sanford C. Bernstein raised their target price on shares of Warner Bros. Discovery from $13.00 to $16.00 and gave the company a “market perform” rating in a research note on Monday, September 22nd. Barclays set a $20.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, October 8th. Benchmark upped their target price on shares of Warner Bros. Discovery from $18.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Singular Research raised Warner Bros. Discovery to a “moderate buy” rating in a research note on Wednesday, October 22nd. Finally, Argus set a $27.00 price target on Warner Bros. Discovery in a research note on Tuesday, October 28th. Three investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.57.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $22.67 on Friday. The stock has a market cap of $56.13 billion, a price-to-earnings ratio of 75.57, a PEG ratio of 2.56 and a beta of 1.74. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. The business has a 50-day simple moving average of $18.44 and a 200 day simple moving average of $13.47. Warner Bros. Discovery has a 52 week low of $7.52 and a 52 week high of $23.06.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The business had revenue of $9.05 billion during the quarter, compared to analysts’ expectations 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 revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 EPS. On average, research analysts forecast that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Bruce Campbell sold 289,322 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $16.48, for a total value of $4,768,026.56. Following the completion of the sale, the insider owned 402,464 shares in the company, valued at approximately $6,632,606.72. The trade was a 41.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anton J. Levy bought 250,000 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was purchased at an average price of $10.90 per share, for a total transaction of $2,725,000.00. Following the acquisition, the director directly owned 874,000 shares of the company’s stock, valued at approximately $9,526,600. The trade was a 40.06% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 1,192,325 shares of company stock valued at $22,818,215 in the last ninety days. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of hedge funds have recently modified their holdings of the company. WPG Advisers LLC purchased a new stake in shares of Warner Bros. Discovery during the first quarter worth about $26,000. Concord Wealth Partners increased its holdings in Warner Bros. Discovery by 49.9% during the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock valued at $26,000 after purchasing an additional 440 shares during the period. Financial Gravity Asset Management Inc. bought a new position in Warner Bros. Discovery during the 1st quarter valued at approximately $27,000. Physician Wealth Advisors Inc. lifted its holdings in Warner Bros. Discovery by 152.1% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after buying an additional 847 shares during the period. Finally, Financial Gravity Companies Inc. bought a new stake in shares of Warner Bros. Discovery in the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

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.