KeyCorp Reaffirms "Sector Weight" Rating for Warner Bros. Discovery (NASDAQ:WBD)

Key Points

• KeyCorp has reaffirmed a "sector weight" rating for Warner Bros. Discovery, indicating a neutral stance on the stock.
• Analysts have varying ratings and price targets for the stock, with estimates ranging from a "buy" rating with a target of $23.00 to a "hold" with a target of $14.07.
• Warner Bros. Discovery's recent quarterly earnings showed a notable EPS of $0.63, significantly exceeding expectations and reflecting a 1.0% increase in revenue year-over-year.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report)'s stock had its "sector weight" rating reissued by investment analysts at KeyCorp in a research note issued to investors on Friday, Marketbeat Ratings reports.

Other research analysts also recently issued reports about the stock. Sanford C. Bernstein lifted their target price on shares of Warner Bros. Discovery from $13.00 to $16.00 and gave the stock a "market perform" rating in a research note on Monday. Cowen downgraded shares of Warner Bros. Discovery from a "buy" rating to a "hold" rating in a research note on Tuesday, September 16th. Moffett Nathanson lifted their target price on shares of Warner Bros. Discovery from $14.00 to $23.00 and gave the stock a "buy" rating in a research note on Monday. Citigroup decreased their target price on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Finally, Bank of America lifted their target price on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of "Hold" and an average price target of $14.07.

Warner Bros. Discovery Trading Down 0.2%

WBD stock opened at $19.78 on Friday. The company has a market capitalization of $48.97 billion, a PE ratio of 65.94, a price-to-earnings-growth ratio of 2.64 and a beta of 1.59. Warner Bros. Discovery has a one year low of $7.25 and a one year high of $20.24. The company's 50 day moving average price is $13.71 and its two-hundred day moving average price is $11.16. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.79. The firm had revenue of $9.81 billion for 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 business's revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted ($4.07) earnings per share. As a group, analysts predict that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Gunnar Wiedenfels sold 530,793 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $19.50, for a total value of $10,350,463.50. Following the transaction, the chief financial officer owned 1,141,150 shares in the company, valued at $22,252,425. The trade was a 31.75% decrease in their position. The sale 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 the stock in a transaction on Monday, August 11th. The shares were bought at an average price of $10.90 per share, for a total transaction of $2,725,000.00. Following the purchase, 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 position. The disclosure for this purchase can be found here. Insiders have sold a total of 970,115 shares of company stock worth $17,818,490 in the last quarter. Corporate insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Warner Bros. Discovery

Hedge funds and other institutional investors have recently bought and sold shares of the stock. WPG Advisers LLC bought a new position in Warner Bros. Discovery during the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Warner Bros. Discovery during the 1st quarter valued at about $27,000. Financial Gravity Companies Inc. purchased a new stake in shares of Warner Bros. Discovery during the 2nd quarter valued at about $29,000. North Capital Inc. purchased a new stake in shares of Warner Bros. Discovery during the 1st quarter valued at about $28,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of Warner Bros. Discovery during the 1st quarter valued at about $29,000. Institutional investors own 59.95% of the company's stock.

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.

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