Wells Fargo & Company Issues Positive Forecast for Warner Bros. Discovery (NASDAQ:WBD) Stock Price

Warner Bros. Discovery (NASDAQ:WBD) had its price target raised by stock analysts at Wells Fargo & Company from $21.00 to $25.00 in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 10.43% from the company’s previous close.

Several other brokerages also recently issued reports on WBD. Arete upped their price objective on Warner Bros. Discovery from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Sanford C. Bernstein upped their target price on shares of Warner Bros. Discovery from $13.00 to $16.00 and gave the company a “market perform” rating in a report on Monday, September 22nd. Rothschild & Co Redburn raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Thursday, October 30th. Rothschild Redb raised shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Finally, The Goldman Sachs Group raised their target price on shares of Warner Bros. Discovery from $11.50 to $13.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 30th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.35.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD traded up $0.22 on Friday, hitting $22.64. The company’s stock had a trading volume of 19,073,411 shares, compared to its average volume of 48,640,691. The stock has a 50 day moving average of $18.22 and a 200-day moving average of $13.32. The company has a market capitalization of $56.05 billion, a price-to-earnings ratio of 75.29, a price-to-earnings-growth ratio of 2.56 and a beta of 1.73. Warner Bros. Discovery has a 12-month low of $7.52 and a 12-month high of $23.06. 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 (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The company had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same quarter in the prior year, the firm earned $0.05 earnings per share. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, research analysts predict that Warner Bros. Discovery will post -4.33 EPS for the current year.

Insider Buying and Selling at Warner Bros. Discovery

In related news, Director Anton J. Levy acquired 250,000 shares of the business’s stock in a transaction on Monday, August 11th. The shares were bought at an average cost of $10.90 per share, with a total value of $2,725,000.00. Following the completion of the transaction, the director directly owned 874,000 shares of the company’s stock, valued at $9,526,600. This trade represents a 40.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruce Campbell sold 289,322 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $16.48, for a total value of $4,768,026.56. Following the completion of the sale, the insider directly owned 402,464 shares of the company’s stock, valued at $6,632,606.72. The trade was a 41.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,192,325 shares of company stock valued at $22,818,215 over the last three months. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WBD. Concord Wealth Partners raised its position in shares of 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 during the period. Physician Wealth Advisors Inc. grew its stake in Warner Bros. Discovery by 152.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after buying an additional 847 shares during the last quarter. Grove Bank & Trust increased its position in Warner Bros. Discovery by 66.5% in the third quarter. Grove Bank & Trust now owns 1,690 shares of the company’s stock worth $33,000 after buying an additional 675 shares during the period. Crews Bank & Trust lifted its stake in Warner Bros. Discovery by 1,242.2% in the third quarter. Crews Bank & Trust now owns 1,718 shares of the company’s stock valued at $34,000 after buying an additional 1,590 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in Warner Bros. Discovery by 183.9% in the third quarter. Meeder Asset Management Inc. now owns 1,891 shares of the company’s stock valued at $37,000 after buying an additional 1,225 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other 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.