Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $11.00

Warner Bros. Discovery (NASDAQ:WBD) had its target price upped by investment analysts at Wells Fargo & Company from $10.00 to $11.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 1.83% from the company’s current price.

A number of other equities analysts also recently weighed in on WBD. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Bank of America lifted their price objective on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays lifted their price objective on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. 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. Finally, Morgan Stanley reduced their price objective on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.33.

Warner Bros. Discovery Price Performance

NASDAQ WBD opened at $11.21 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99. Warner Bros. Discovery has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a market capitalization of $27.51 billion, a PE ratio of -2.55 and a beta of 1.54. The firm’s 50 day moving average is $9.74 and its 200-day moving average is $9.94.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The firm had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. Warner Bros. Discovery’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.40) earnings per share. Equities research analysts anticipate that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Warner Bros. Discovery

Hedge funds and other institutional investors have recently modified their holdings of the stock. AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of Warner Bros. Discovery during the first quarter valued at approximately $988,000. Voya Investment Management LLC lifted its stake in Warner Bros. Discovery by 34.9% in the first quarter. Voya Investment Management LLC now owns 7,035,842 shares of the company’s stock worth $75,495,000 after acquiring an additional 1,820,249 shares during the period. Strs Ohio purchased a new stake in Warner Bros. Discovery in the first quarter worth $13,670,000. Geneos Wealth Management Inc. lifted its stake in Warner Bros. Discovery by 23.9% in the first quarter. Geneos Wealth Management Inc. now owns 14,090 shares of the company’s stock worth $151,000 after acquiring an additional 2,721 shares during the period. Finally, Focus Partners Wealth lifted its stake in Warner Bros. Discovery by 91.6% in the first quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock worth $1,254,000 after acquiring an additional 55,837 shares during the period. 59.95% of the stock is currently owned by institutional investors.

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.