Warner Bros. Discovery (NASDAQ:WBD) Stock Price Expected to Rise, Bank of America Analyst Says

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) had its target price raised by analysts at Bank of America from $14.00 to $16.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's price objective would suggest a potential upside of 42.79% from the company's current price.

Several other research firms have also commented on WBD. KeyCorp lowered their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Rosenblatt Securities restated a "neutral" rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Wells Fargo & Company raised their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Huber Research raised Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. Finally, Morgan Stanley lowered their price objective on Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Warner Bros. Discovery has a consensus rating of "Moderate Buy" and a consensus price target of $12.33.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock traded up $0.09 on Tuesday, reaching $11.21. 24,154,256 shares of the stock were exchanged, compared to its average volume of 36,327,678. The business has a 50 day moving average price of $9.79 and a two-hundred day moving average price of $9.94. The firm has a market capitalization of $27.51 billion, a price-to-earnings ratio of -2.55 and a beta of 1.54. Warner Bros. Discovery has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings results 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 return on equity of 30.56% and a negative net margin of 28.16%. The business had revenue of $8.98 billion for the quarter, compared to analysts' expectations of $9.66 billion. During the same period in the prior year, the business posted ($0.40) earnings per share. The business's quarterly revenue was down 9.8% compared to the same quarter last year. Analysts anticipate that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Brighton Jones LLC increased its stake in Warner Bros. Discovery by 304.9% during the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock worth $729,000 after buying an additional 51,920 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $794,000. QRG Capital Management Inc. purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter worth approximately $121,000. SVB Wealth LLC acquired a new position in Warner Bros. Discovery in the 4th quarter valued at $168,000. Finally, Metis Global Partners LLC raised its stake in Warner Bros. Discovery by 52.9% in the 4th quarter. Metis Global Partners LLC now owns 110,878 shares of the company's stock valued at $1,172,000 after purchasing an additional 38,384 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.