Wells Fargo & Company Cuts Warner Bros. Discovery (NASDAQ:WBD) Price Target to $9.00

Warner Bros. Discovery (NASDAQ:WBD) had its price target lowered by Wells Fargo & Company from $11.00 to $9.00 in a research report sent to investors on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other research analysts have also recently weighed in on WBD. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Raymond James lowered their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, April 4th. The Goldman Sachs Group boosted their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Barclays cut their price objective on Warner Bros. Discovery from $12.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Finally, Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.76.

Warner Bros. Discovery Stock Up 2.4 %

Warner Bros. Discovery stock opened at $8.11 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm’s fifty day moving average price is $10.01 and its two-hundred day moving average price is $9.75. The firm has a market capitalization of $19.91 billion, a price-to-earnings ratio of -1.77, a price-to-earnings-growth ratio of 8.64 and a beta of 1.43. Warner Bros. Discovery has a 1-year low of $6.64 and a 1-year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. On average, equities research analysts predict that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Insider Activity at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now directly owns 159,932 shares in the company, valued at $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Warner Bros. Discovery

Hedge funds have recently added to or reduced their stakes in the company. Colonial Trust Advisors raised its stake in Warner Bros. Discovery by 71.8% during the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after buying an additional 996 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Warner Bros. Discovery in the fourth quarter worth about $26,000. SRS Capital Advisors Inc. raised its position in shares of Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after buying an additional 1,940 shares during the last quarter. Graney & King LLC bought a new position in shares of Warner Bros. Discovery during the 4th quarter valued at about $28,000. Finally, Ethos Financial Group LLC purchased a new position in Warner Bros. Discovery during the 4th quarter valued at approximately $29,000. 59.95% of the stock is currently 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.