Warner Bros. Discovery (NASDAQ:WBD) Given New $14.00 Price Target at Wells Fargo & Company

Warner Bros. Discovery (NASDAQ:WBD) had its price objective boosted by Wells Fargo & Company from $13.00 to $14.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

WBD has been the subject of several other research reports. KeyCorp decreased their target price on Warner Bros. Discovery from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Citigroup cut their price target on 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. Barclays upped their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 9th. Finally, UBS Group upped their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $13.20.

Warner Bros. Discovery Trading Up 28.9%

WBD opened at $16.17 on Thursday. The business has a 50 day simple moving average of $12.24 and a two-hundred day simple moving average of $10.60. The firm has a market capitalization of $40.03 billion, a price-to-earnings ratio of 53.90, a PEG ratio of 1.67 and a beta of 1.59. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. Warner Bros. Discovery has a one year low of $7.08 and a one year high of $17.24.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.79. The business had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.Warner Bros. Discovery’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($4.07) EPS. 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 Anton J. Levy purchased 250,000 shares of the stock in a transaction dated Monday, August 11th. The shares were purchased at an average cost of $10.90 per share, with a total value of $2,725,000.00. Following the acquisition, the director directly owned 874,000 shares of the company’s stock, valued at $9,526,600. This represents a 40.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Warner Bros. Discovery

Hedge funds and other institutional investors have recently modified their holdings of the company. WPG Advisers LLC bought a new position in shares of Warner Bros. Discovery during the 1st quarter valued at $26,000. Financial Gravity Asset Management Inc. bought a new position in shares of Warner Bros. Discovery during the 1st quarter valued at $27,000. Financial Gravity Companies Inc. bought a new position in shares of Warner Bros. Discovery during the 2nd quarter valued at $29,000. North Capital Inc. bought a new position in shares of Warner Bros. Discovery during the 1st quarter valued at $28,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in shares of Warner Bros. Discovery during the 1st quarter valued at $29,000. 59.95% of the stock is owned by institutional investors.

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.