Warner Bros. Discovery Inc (NASDAQ:WBD) price on Wednesday, October 23, fall -2.66% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $7.33.
A look at the stock’s price movement, the close in the last trading session was $7.53, moving within a range at $7.25 and $7.545. The beta value (5-Year monthly) was 1.487. Turning to its 52-week performance, $12.70 and $6.64 were the 52-week high and 52-week low respectively. Overall, WBD moved -11.90% over the past month.
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Warner Bros. Discovery Inc’s market cap currently stands at around $17.97 billion, with investors looking forward to this quarter’s earnings report slated for in November.
Analysts have a consensus estimate of 9.83B for the company’s revenue for the quarter, with a low and high estimate of 9.55B and 10.34B respectively. The average forecast suggests down to a -1.50% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 40.14B, representing a -2.90% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that WBD is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
20 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 6 analyst(s) rate the stock as a Hold, 13 recommend WBD as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
WBD’s current price about -6.00% and -5.92% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 38.39, while 7-day volatility ratio is 3.45% and 3.43% in the 30-day chart. Further, Warner Bros. Discovery Inc (WBD) has a beta value of 1.49, and an average true range (ATR) of 0.29. Analysts have given the company’s stock an average 52-week price target of $15, forecast between a low of $5 and high of $45. Looking at the price targets, the low is 31.79% off current price level while to achieve the yearly target high, price needs to move -513.92%. Nonetheless, investors will most likely welcome a -104.64% jump to $15 which is the analysts’ median price.
If we refocus on Warner Bros. Discovery Inc (NASDAQ:WBD), historical trading data shows that trading volumes averaged 22.31 over the past 10 days and 30.91 million over the past 3 months. The company’s latest data on shares outstanding shows there are 2.44 billion shares.
The 9.52% of Warner Bros. Discovery Inc’s shares are in the hands of company insiders while institutional holders own 61.48% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 99.24 million on 2024-09-30, giving us a short ratio of 3.01. The data shows that as of 2024-09-30 short interest in Warner Bros. Discovery Inc (WBD) stood at 456.00000000000006 of shares outstanding, with shares short falling to 114.38 million registered in 2024-08-30. Current price change has pushed the stock -35.59% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the WBD stock continues to rise going into the next quarter.
