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.
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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
(
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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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