Wells Fargo & Company Issues Positive Forecast for Warner Bros. Discovery (NASDAQ:WBD) Stock Price

Warner Bros. Discovery (NASDAQ:WBD) had its price objective upped by Wells Fargo & Company from $10.00 to $11.00 in a report issued on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other research firms have also commented on WBD. Raymond James Financial decreased their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, April 4th. Citigroup cut their target price on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. 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. Finally, Bank of America boosted their price objective on Warner Bros. Discovery from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and a consensus target price of $12.33.

Warner Bros. Discovery Trading Up 1.6%

NASDAQ:WBD opened at $11.12 on Wednesday. The company has a market cap of $27.30 billion, a PE ratio of -2.53 and a beta of 1.54. The business’s 50 day moving average is $9.68 and its two-hundred day moving average is $9.94. 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 52 week low of $6.64 and a 52 week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The firm had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.40) earnings per share. On average, analysts predict that Warner Bros. Discovery will post -4.33 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in Warner Bros. Discovery in the fourth quarter worth about $362,210,000. Contrarius Group Holdings Ltd acquired a new position in shares of Warner Bros. Discovery in the 4th quarter worth approximately $168,930,000. Independent Franchise Partners LLP acquired a new position in shares of Warner Bros. Discovery in the 1st quarter worth approximately $140,224,000. FMR LLC lifted its stake in Warner Bros. Discovery by 478.5% during the fourth quarter. FMR LLC now owns 14,278,600 shares of the company’s stock valued at $150,925,000 after purchasing an additional 11,810,191 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Warner Bros. Discovery during the first quarter worth approximately $96,971,000. Institutional investors and hedge funds 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.