Warner Bros. Discovery (NASDAQ:WBD) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Warner Bros. Discovery (NASDAQ:WBD) had its price objective raised by analysts at Wells Fargo & Company from $9.00 to $10.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 10.62% from the company’s current price.

Several other analysts have also weighed in on WBD. KeyCorp decreased their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. lifted their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. Benchmark restated a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Finally, Citigroup increased their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and an average target price of $12.22.

Warner Bros. Discovery Stock Up 0.3 %

Warner Bros. Discovery stock opened at $9.04 on Friday. Warner Bros. Discovery has a one year low of $6.64 and a one year high of $12.70. The stock has a fifty day moving average of $9.35 and a 200 day moving average of $9.84. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $22.19 billion, a PE ratio of -1.97, a price-to-earnings-growth ratio of 8.64 and a beta of 1.46.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $9.66 billion. During the same period in the previous year, the firm earned ($0.40) EPS. The company’s revenue was down 9.8% on a year-over-year basis. As a group, sell-side analysts predict that Warner Bros. Discovery will post -4.33 EPS for the current year.

Insider Buying and Selling at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the transaction, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of WBD. Franklin Resources Inc. boosted its position in shares of Warner Bros. Discovery by 111.0% in the third quarter. Franklin Resources Inc. now owns 375,462 shares of the company’s stock valued at $2,831,000 after acquiring an additional 197,528 shares during the period. Principal Financial Group Inc. boosted its holdings in Warner Bros. Discovery by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after purchasing an additional 78,653 shares during the period. Nordea Investment Management AB grew its position in Warner Bros. Discovery by 5.1% in the 4th quarter. Nordea Investment Management AB now owns 183,888 shares of the company’s stock worth $1,958,000 after purchasing an additional 8,875 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Warner Bros. Discovery by 0.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 183,462 shares of the company’s stock worth $1,939,000 after purchasing an additional 1,387 shares during the period. Finally, Czech National Bank raised its position in shares of Warner Bros. Discovery by 6.5% during the fourth quarter. Czech National Bank now owns 484,024 shares of the company’s stock valued at $5,116,000 after buying an additional 29,498 shares during the last quarter. Institutional investors and hedge funds 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.