Warner Bros. Discovery (NASDAQ:WBD) Given New $9.00 Price Target at Wells Fargo & Company

Warner Bros. Discovery (NASDAQ:WBD) had its target price dropped by analysts at Wells Fargo & Company from $11.00 to $9.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 10.77% from the stock’s current price.

A number of other equities research analysts also recently commented on WBD. KeyCorp cut their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday. The Goldman Sachs Group upped their price objective on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. upped their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Barrington Research reiterated an “outperform” rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. Finally, Citigroup lifted their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.76.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock traded up $0.21 during midday trading on Thursday, reaching $8.13. 12,041,411 shares of the stock traded hands, compared to its average volume of 32,505,267. The firm has a fifty day moving average price of $10.08 and a two-hundred day moving average price of $9.74. The firm has a market cap of $19.94 billion, a price-to-earnings ratio of -1.77, a PEG ratio of 8.64 and a beta of 1.43. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. On average, equities research analysts forecast that Warner Bros. Discovery will post -4.33 earnings per share for the current year.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the acquisition, the director now owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Orion Portfolio Solutions LLC grew its position in shares of Warner Bros. Discovery by 13.4% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 24,644 shares of the company’s stock worth $203,000 after purchasing an additional 2,905 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at $1,545,000. Tidal Investments LLC lifted its position in shares of Warner Bros. Discovery by 89.5% during the 3rd quarter. Tidal Investments LLC now owns 142,649 shares of the company’s stock worth $1,177,000 after buying an additional 67,355 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of Warner Bros. Discovery by 17.3% in the 3rd quarter. Synovus Financial Corp now owns 69,192 shares of the company’s stock valued at $571,000 after purchasing an additional 10,199 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Warner Bros. Discovery by 111.0% during the third quarter. Franklin Resources Inc. now owns 375,462 shares of the company’s stock worth $2,831,000 after buying an additional 197,528 shares during the last quarter. 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.