Warner Bros. Discovery (NASDAQ:WBD) Given New $11.00 Price Target at Wells Fargo & Company

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) had its price objective raised by investment analysts at Wells Fargo & Company from $10.00 to $11.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price indicates a potential downside of 0.84% from the company's previous close.

Other equities research analysts have also issued reports about the stock. Morgan Stanley decreased their target price on shares of 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. Argus raised shares of Warner Bros. Discovery to a "hold" rating in a research note on Tuesday, May 27th. Raymond James Financial decreased their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a research report on Friday, April 4th. Citigroup reduced their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Finally, Barclays upped their target price on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Warner Bros. Discovery currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.33.

Warner Bros. Discovery Stock Performance

Shares of WBD stock traded up $0.15 during trading hours on Wednesday, hitting $11.09. The stock had a trading volume of 13,152,168 shares, compared to its average volume of 36,105,661. The stock's 50 day moving average is $9.63 and its 200 day moving average is $9.93. The firm has a market capitalization of $27.23 billion, a PE ratio of -2.52 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 debt-to-equity ratio of 0.99, a current ratio of 0.84 and a quick ratio of 0.84.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The business had revenue of $8.98 billion during the quarter, compared to analyst estimates of $9.66 billion. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. The company's revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, research analysts forecast that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Colonial Trust Advisors lifted its stake in Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after purchasing an additional 996 shares during the last quarter. WPG Advisers LLC purchased a new position in shares of Warner Bros. Discovery during the 1st quarter valued at $26,000. SRS Capital Advisors Inc. increased its position in Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock worth $27,000 after purchasing an additional 1,940 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in Warner Bros. Discovery in the first quarter valued at approximately $27,000. Finally, Graney & King LLC acquired a new position in Warner Bros. Discovery during the fourth quarter worth $28,000. 59.95% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.