Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) had its price objective dropped by stock analysts at Wells Fargo & Company from $11.00 to $9.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 10.97% from the stock's current price.
Other research analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Barrington Research reaffirmed an "outperform" rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Moffett Nathanson upgraded Warner Bros. Discovery from a "neutral" rating to a "buy" rating and boosted their price target for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. Barclays reduced their price objective on Warner Bros. Discovery from $12.00 to $7.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Finally, KeyCorp lowered their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $11.76.
Read Our Latest Stock Report on WBD
Warner Bros. Discovery Trading Up 2.4 %
NASDAQ:WBD traded up $0.19 during midday trading on Thursday, hitting $8.11. 31,292,791 shares of the company traded hands, compared to its average volume of 32,696,824. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery has a 12-month low of $6.64 and a 12-month high of $12.70. The firm has a market capitalization of $19.91 billion, a P/E ratio of -1.77, a P/E/G ratio of 8.64 and a beta of 1.43. The firm's fifty day moving average is $10.01 and its 200-day moving average is $9.75.
Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.30). The business had revenue of $10.03 billion during the quarter, compared to analysts' expectations of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. On average, sell-side analysts predict that Warner Bros. Discovery will post -4.33 EPS for the current year.
Insider Buying and Selling
In related news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now directly owns 159,932 shares of the company's stock, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Colonial Trust Advisors increased its stake in shares of Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock worth $25,000 after acquiring an additional 996 shares during the period. Stonebridge Financial Group LLC acquired a new stake in Warner Bros. Discovery during the 4th quarter worth about $26,000. SRS Capital Advisors Inc. raised its stake in shares of Warner Bros. Discovery by 313.4% during the 4th 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 acquired a new position in shares of Warner Bros. Discovery in the 4th quarter valued at about $28,000. Finally, Ethos Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter worth about $29,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.
About Warner Bros. Discovery
(
Get Free Report)
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.
See Also
Before you consider Warner Bros. Discovery, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Warner Bros. Discovery wasn't on the list.
While Warner Bros. Discovery currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
