Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $16.00

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) had its target price increased by stock analysts at Bank of America from $14.00 to $16.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's target price suggests a potential upside of 46.25% from the stock's current price.

WBD has been the subject of a number of other research reports. Raymond James Financial lowered their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Argus upgraded shares of Warner Bros. Discovery to a "hold" rating in a report on Tuesday, May 27th. Morgan Stanley lowered their price target on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Citigroup decreased their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Finally, Huber Research upgraded shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Warner Bros. Discovery has an average rating of "Moderate Buy" and a consensus target price of $12.28.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD traded down $0.52 during trading hours on Tuesday, reaching $10.94. 87,998,015 shares of the stock traded hands, compared to its average volume of 36,188,375. The company's 50-day simple moving average is $9.57 and its two-hundred day simple moving average is $9.93. Warner Bros. Discovery has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.84 and a current ratio of 0.84.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share 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 during the quarter, compared to the consensus estimate of $9.66 billion. During the same quarter in the previous year, the firm posted ($0.40) earnings per share. The company's revenue was down 9.8% compared to the same quarter last year. Equities analysts predict that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

Institutional Trading of Warner Bros. Discovery

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Colonial Trust Advisors boosted its holdings in 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 in the last quarter. WPG Advisers LLC bought a new position in shares of Warner Bros. Discovery during the first quarter valued at $26,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Warner Bros. Discovery in the 1st quarter worth about $27,000. SRS Capital Advisors Inc. raised its holdings in Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock worth $27,000 after buying an additional 1,940 shares during the last quarter. Finally, North Capital Inc. bought a new position in shares of Warner Bros. Discovery in the first quarter worth approximately $28,000. Hedge funds and other institutional investors own 59.95% of the company's stock.

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.