Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $10.00

Warner Bros. Discovery (NASDAQ:WBD) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $9.00 to $10.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 1.52% from the stock’s current price.

WBD has been the subject of a number of other reports. KeyCorp upped their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Raymond James lifted their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Rosenblatt Securities raised their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Finally, Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $11.56.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD traded up $0.01 during midday trading on Tuesday, hitting $9.85. 7,974,894 shares of the stock traded hands, compared to its average volume of 25,846,848. The firm has a market capitalization of $24.16 billion, a P/E ratio of -2.15 and a beta of 1.52. Warner Bros. Discovery has a one year low of $6.64 and a one year high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a 50-day moving average of $10.30 and a two-hundred day moving average of $8.67.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same period last year, the firm posted ($0.17) earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities analysts forecast that Warner Bros. Discovery will post -4.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the transaction, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its stake in shares of Warner Bros. Discovery by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after purchasing an additional 78,653 shares during the last quarter. Hauser Brothers GmbH lifted its position in Warner Bros. Discovery by 56.1% in the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock worth $10,106,000 after buying an additional 440,000 shares during the last quarter. Private Management Group Inc. boosted its stake in Warner Bros. Discovery by 37.7% during the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after buying an additional 1,886,868 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of Warner Bros. Discovery in the third quarter valued at $1,474,000. Finally, Blueshift Asset Management LLC bought a new stake in shares of Warner Bros. Discovery in the 3rd quarter worth about $588,000. Hedge funds and other 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.