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

Warner Bros. Discovery (NASDAQ:WBD - Free Report) had its target price lifted by Wells Fargo & Company from $10.00 to $11.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research firms also recently weighed in on WBD. Bank of America upped their target price on Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Tuesday. KeyCorp dropped their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Guggenheim reiterated a "buy" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Barclays raised their price objective on Warner Bros. Discovery from $7.00 to $9.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Finally, Huber Research raised shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research report on Monday, June 9th. Eleven investment 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $12.33.

Warner Bros. Discovery Trading Up 0.8%

Warner Bros. Discovery stock traded up $0.09 during mid-day trading on Wednesday, hitting $11.21. The company's stock had a trading volume of 24,154,256 shares, compared to its average volume of 36,327,678. The business has a 50 day moving average price of $9.79 and a 200-day moving average price of $9.94. 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 has a 12 month low of $6.64 and a 12 month high of $12.70. The stock has a market cap of $27.51 billion, a price-to-earnings ratio of -2.55 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced 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 firm had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. During the same period last year, the business earned ($0.40) EPS. Warner Bros. Discovery's revenue was down 9.8% on a year-over-year basis. As a group, analysts forecast that Warner Bros. Discovery will post -4.33 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in Warner Bros. Discovery by 304.9% in the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock worth $729,000 after purchasing an additional 51,920 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Warner Bros. Discovery during the fourth quarter worth $794,000. QRG Capital Management Inc. bought a new position in shares of Warner Bros. Discovery during the fourth quarter worth $121,000. SVB Wealth LLC purchased a new position in Warner Bros. Discovery during the fourth quarter valued at $168,000. Finally, Smartleaf Asset Management LLC increased its holdings in Warner Bros. Discovery by 19.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 11,251 shares of the company's stock valued at $118,000 after acquiring an additional 1,865 shares during the last quarter. 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.