Warner Bros. Discovery (NASDAQ:WBD) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo & Company raised Warner Bros. Discovery's price target from $11.00 to $13.00, implying a potential upside of 15.71% from its previous close.
• Other analysts, including KeyCorp and UBS Group, have varied price targets for the stock, with ratings ranging from "overweight" to "neutral".
• Warner Bros. Discovery recently reported a $0.63 EPS for the quarter, significantly exceeding the consensus estimate of ($0.16), showing a year-over-year revenue increase of 1.0%.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) had its target price boosted by stock analysts at Wells Fargo & Company from $11.00 to $13.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 15.71% from the stock's previous close.

Other research analysts also recently issued reports about the stock. KeyCorp decreased their price target on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating on the stock in a research report on Friday. UBS Group lifted their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Morgan Stanley upped their price target on Warner Bros. Discovery from $10.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Huber Research raised Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research note on Monday, June 9th. Finally, Barclays boosted their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Twelve investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $12.81.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock traded down $0.63 during mid-day trading on Friday, reaching $11.24. 26,605,364 shares of the stock traded hands, compared to its average volume of 46,815,398. Warner Bros. Discovery has a 12-month low of $6.64 and a 12-month high of $13.86. The business's 50-day moving average is $11.50 and its 200-day moving average is $10.32. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $27.58 billion, a PE ratio of -2.56 and a beta of 1.57.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.79. Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The firm 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 earned ($4.07) EPS. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

Institutional Trading of Warner Bros. Discovery

A number of large investors have recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Warner Bros. Discovery by 304.9% during the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock valued at $729,000 after purchasing an additional 51,920 shares during the last quarter. Federated Hermes Inc. increased its position in Warner Bros. Discovery by 5.2% during the fourth quarter. Federated Hermes Inc. now owns 32,118 shares of the company's stock valued at $339,000 after acquiring an additional 1,598 shares during the last quarter. FMR LLC raised its stake in shares of Warner Bros. Discovery by 478.5% in the fourth quarter. FMR LLC now owns 14,278,600 shares of the company's stock valued at $150,925,000 after acquiring an additional 11,810,191 shares during the period. Cerity Partners LLC lifted its holdings in shares of Warner Bros. Discovery by 17.2% in the 4th quarter. Cerity Partners LLC now owns 246,205 shares of the company's stock worth $2,602,000 after acquiring an additional 36,101 shares during the last quarter. Finally, Bank of Nova Scotia lifted its holdings in shares of Warner Bros. Discovery by 3.5% in the 4th quarter. Bank of Nova Scotia now owns 301,335 shares of the company's stock worth $3,185,000 after acquiring an additional 10,315 shares during the last quarter. Institutional investors own 59.95% of the company's stock.

About Warner Bros. Discovery

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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