Wells Fargo & Company Boosts Warner Bros. Discovery (NASDAQ:WBD) Price Target to $25.00

Warner Bros. Discovery (NASDAQ:WBD) had its price objective upped by analysts at Wells Fargo & Company from $21.00 to $25.00 in a research note issued to investors on Friday, MarketBeat reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 10.28% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Argus set a $27.00 price target on Warner Bros. Discovery in a report on Tuesday, October 28th. KeyCorp reaffirmed a “sector weight” rating on shares of Warner Bros. Discovery in a research note on Friday, September 26th. UBS Group lifted their price target on shares of Warner Bros. Discovery from $10.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Rothschild Redb upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. Finally, Seaport Global Securities raised their price objective on shares of Warner Bros. Discovery from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $21.57.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $22.67 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a 50 day simple moving average of $18.44 and a 200 day simple moving average of $13.47. Warner Bros. Discovery has a fifty-two week low of $7.52 and a fifty-two week high of $23.06. The firm has a market cap of $56.13 billion, a P/E ratio of 75.57, a P/E/G ratio of 2.56 and a beta of 1.74.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $9.17 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.05 earnings per share. Sell-side analysts predict that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 222,210 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $22.50, for a total value of $4,999,725.00. Following the sale, the chief financial officer directly owned 918,940 shares in the company, valued at approximately $20,676,150. This trade represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bruce Campbell sold 150,000 shares of Warner Bros. Discovery stock in a transaction on Friday, September 12th. The stock was sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the transaction, the insider directly owned 252,464 shares in the company, valued at approximately $4,544,352. This represents a 37.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,192,325 shares of company stock valued at $22,818,215. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Warner Bros. Discovery

Several large investors have recently modified their holdings of the business. WPG Advisers LLC bought a new position in shares of Warner Bros. Discovery during the 1st quarter valued at about $26,000. Concord Wealth Partners increased its stake in Warner Bros. Discovery by 49.9% during the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after purchasing an additional 440 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in Warner Bros. Discovery during the 1st quarter worth approximately $27,000. Physician Wealth Advisors Inc. lifted its stake in Warner Bros. Discovery by 152.1% in the third quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock valued at $27,000 after buying an additional 847 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new position in shares of Warner Bros. Discovery in the second quarter valued at approximately $29,000. 59.95% of the stock is currently owned by 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.