Warner Bros. Discovery (NASDAQ:WBD) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

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

Several other equities analysts have also issued reports on the company. Barrington Research restated an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research report on Friday, December 13th. Raymond James lifted their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Macquarie increased their price target on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Barclays boosted their price objective on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Finally, Guggenheim increased their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.56.

Warner Bros. Discovery Price Performance

Shares of WBD stock traded up $0.01 during trading hours on Tuesday, hitting $9.85. 7,974,894 shares of the company’s stock were exchanged, compared to its average volume of 25,846,848. The company has a market capitalization of $24.16 billion, a PE ratio of -2.15 and a beta of 1.52. 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 12-month low of $6.64 and a 12-month high of $12.70. The business’s 50 day simple moving average is $10.30 and its 200-day simple moving average is $8.67.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. 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 $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter last year, the company earned ($0.17) EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that Warner Bros. Discovery will post -4.37 earnings per share for the current year.

Insider Activity at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was 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 of the company’s stock, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its position in shares of Warner Bros. Discovery by 275.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,317,246 shares of the company’s stock valued at $13,923,000 after acquiring an additional 966,444 shares in the last quarter. Oak Thistle LLC bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth $211,000. 180 Wealth Advisors LLC raised its stake in shares of Warner Bros. Discovery by 4.4% in the fourth quarter. 180 Wealth Advisors LLC now owns 76,605 shares of the company’s stock worth $810,000 after purchasing an additional 3,194 shares during the last quarter. Rosenberg Matthew Hamilton lifted its holdings in shares of Warner Bros. Discovery by 448.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after purchasing an additional 3,743 shares in the last quarter. Finally, Friedenthal Financial purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at $774,000. 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.