Wells Fargo & Company Forecasts Strong Price Appreciation for Warner Bros. Discovery (NASDAQ:WBD) Stock

Warner Bros. Discovery (NASDAQ:WBD) had its target price increased by equities researchers at Wells Fargo & Company from $21.00 to $25.00 in a note issued to investors on Friday,MarketScreener reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 10.44% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. Moffett Nathanson increased their target price on shares of Warner Bros. Discovery from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Friday. Bank of America boosted their price target on Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Weiss Ratings upgraded shares of Warner Bros. Discovery from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Singular Research raised shares of Warner Bros. Discovery to a “moderate buy” rating in a report on Wednesday, October 22nd. Finally, Cowen downgraded shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.35.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD traded up $0.22 during trading hours on Friday, reaching $22.64. 2,601,048 shares of the stock were exchanged, compared to its average volume of 48,567,199. The firm has a market capitalization of $56.04 billion, a price-to-earnings ratio of 74.95, a P/E/G ratio of 2.56 and a beta of 1.73. The stock’s fifty day simple moving average is $18.22 and its 200 day simple moving average is $13.32. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. Warner Bros. Discovery has a 52 week low of $7.52 and a 52 week high of $23.06.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The company had revenue of $9.05 billion during the quarter, compared to analyst estimates of $9.17 billion. During the same period in the prior year, the firm earned $0.05 earnings per share. Warner Bros. Discovery’s revenue was down 6.0% on a year-over-year basis. Sell-side analysts predict that Warner Bros. Discovery will post -4.33 EPS for the current year.

Insider Activity

In other Warner Bros. Discovery news, Director Anton J. Levy bought 75,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average price of $11.00 per share, with a total value of $825,000.00. Following the acquisition, the director owned 949,000 shares in the company, valued at approximately $10,439,000. This trade represents a 8.58% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bruce Campbell sold 150,000 shares of Warner Bros. Discovery stock in a transaction on Friday, September 12th. The shares were sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the completion of the sale, the insider owned 252,464 shares in the company, valued at approximately $4,544,352. This trade represents a 37.27% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,192,325 shares of company stock worth $22,818,215. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Warner Bros. Discovery

Several institutional investors have recently added to or reduced their stakes in WBD. WPG Advisers LLC bought a new position in Warner Bros. Discovery in the first quarter valued at about $26,000. Concord Wealth Partners lifted its stake in Warner Bros. Discovery by 49.9% in the third quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after acquiring an additional 440 shares during the period. Financial Gravity Asset Management Inc. bought a new position in shares of Warner Bros. Discovery during the 1st quarter worth approximately $27,000. Physician Wealth Advisors Inc. raised its stake in shares of Warner Bros. Discovery by 152.1% in the third quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after purchasing an additional 847 shares during the last quarter. Finally, Financial Gravity Companies Inc. purchased a new position in Warner Bros. Discovery in the second quarter valued at $29,000. 59.95% of the stock is currently 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.