KeyCorp Forecasts Strong Price Appreciation for Warner Bros. Discovery (NASDAQ:WBD) Stock

Warner Bros. Discovery (NASDAQ:WBD) had its price objective upped by analysts at KeyCorp from $11.00 to $14.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target indicates a potential upside of 28.21% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. Sanford C. Bernstein cut shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $10.00 to $8.00 in a research note on Tuesday, August 13th. Macquarie increased their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Barrington Research reissued an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, November 7th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $9.00 target price on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and an average target price of $10.71.

Warner Bros. Discovery Stock Performance

Shares of WBD traded up $0.36 during trading hours on Tuesday, hitting $10.92. The company’s stock had a trading volume of 7,341,228 shares, compared to its average volume of 29,305,184. The company has a market cap of $26.79 billion, a price-to-earnings ratio of -2.38 and a beta of 1.51. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50 day simple moving average of $8.82 and a two-hundred day simple moving average of $8.14. 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 posted 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 firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the prior year, the business posted ($0.17) earnings per share. The business’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities analysts expect that Warner Bros. Discovery will post -4.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Warner Bros. Discovery

Several large investors have recently added to or reduced their stakes in WBD. OFI Invest Asset Management lifted its stake in Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after acquiring an additional 1,221 shares during the period. Commerce Bank raised its stake in Warner Bros. Discovery by 2.4% in the 3rd quarter. Commerce Bank now owns 55,963 shares of the company’s stock worth $462,000 after acquiring an additional 1,286 shares during the last quarter. GAM Holding AG lifted its position in Warner Bros. Discovery by 0.3% during the 3rd quarter. GAM Holding AG now owns 457,685 shares of the company’s stock worth $3,776,000 after acquiring an additional 1,437 shares during the period. Waldron Private Wealth LLC raised its stake in shares of Warner Bros. Discovery by 5.4% in the third quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock worth $234,000 after purchasing an additional 1,461 shares during the last quarter. Finally, PFG Investments LLC increased its holdings in Warner Bros. Discovery by 1.4% in the 3rd quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock worth $927,000 after buying an additional 1,517 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

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.