Deutsche Bank Aktiengesellschaft Issues Positive Forecast for Warner Bros. Discovery (NASDAQ:WBD) Stock Price

Key Points

• Deutsche Bank raised its target price for Warner Bros. Discovery (NASDAQ:WBD) from $19.00 to $23.00, indicating a potential upside of 11.32% from the stock's previous close.
• Other analysts have also increased their target prices, with Bank of America setting it at $24.00 and Raymond James at $22.00, both maintaining "buy" ratings.
• Warner Bros. Discovery reported earnings per share of $0.63 for the latest quarter, exceeding expectations and reflecting a 1.0% increase in year-over-year revenue.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) had its target price raised by research analysts at Deutsche Bank Aktiengesellschaft from $19.00 to $23.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The firm presently has a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft's target price would indicate a potential upside of 11.32% from the stock's previous close.

A number of other analysts have also recently weighed in on WBD. Bank of America raised their target price on shares of Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Raymond James Financial upped their target price on Warner Bros. Discovery from $13.00 to $22.00 and gave the company an "outperform" rating in a report on Thursday, October 2nd. Wells Fargo & Company boosted their price objective on Warner Bros. Discovery from $14.00 to $21.00 and gave the stock an "equal weight" rating in a report on Thursday, October 16th. Benchmark raised their target price on shares of Warner Bros. Discovery from $18.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, KeyCorp reissued a "sector weight" rating on shares of Warner Bros. Discovery in a research report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $17.68.

Warner Bros. Discovery Price Performance

NASDAQ WBD traded up $0.33 on Wednesday, reaching $20.66. 8,030,418 shares of the stock traded hands, compared to its average volume of 49,242,254. Warner Bros. Discovery has a 12 month low of $7.25 and a 12 month high of $21.22. The company has a market cap of $51.15 billion, a price-to-earnings ratio of 69.11, a P/E/G ratio of 2.24 and a beta of 1.73. The firm's fifty day simple moving average is $15.86 and its 200 day simple moving average is $12.20. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.79. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The business had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same quarter in the prior year, the firm posted ($4.07) earnings per share. The company's revenue was up 1.0% on a year-over-year basis. As a group, research analysts predict that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

Insider Activity

In other Warner Bros. Discovery news, 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 transaction, the insider directly owned 402,464 shares of the company's stock, valued at $6,632,606.72. This represents a 41.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anton J. Levy purchased 250,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were purchased at an average cost of $10.90 per share, with a total value of $2,725,000.00. Following the completion of the purchase, the director directly owned 874,000 shares in the company, valued at approximately $9,526,600. This represents a 40.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 970,115 shares of company stock worth $17,818,490 in the last ninety days. Corporate insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Warner Bros. Discovery

Several large investors have recently made changes to their positions in WBD. Brighton Jones LLC grew its stake in shares of Warner Bros. Discovery by 304.9% in the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock valued at $729,000 after buying an additional 51,920 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Warner Bros. Discovery by 16.1% in the 1st quarter. GAMMA Investing LLC now owns 45,942 shares of the company's stock valued at $493,000 after buying an additional 6,354 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Warner Bros. Discovery by 10.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 221,774 shares of the company's stock valued at $2,380,000 after buying an additional 21,147 shares in the last quarter. QRG Capital Management Inc. grew its stake in shares of Warner Bros. Discovery by 70.8% in the 1st quarter. QRG Capital Management Inc. now owns 19,500 shares of the company's stock valued at $209,000 after buying an additional 8,083 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Warner Bros. Discovery in the 1st quarter valued at approximately $757,000. 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.

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