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

Warner Bros. Discovery (NASDAQ:WBD) had its target price increased by equities researchers at JPMorgan Chase & Co. from $9.00 to $10.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 2.15% from the stock’s previous close.

Several other research analysts have also issued reports on the company. Raymond James increased their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Barrington Research restated an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research report on Friday, December 13th. KeyCorp raised their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Finally, Guggenheim boosted their target price on 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 assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $11.56.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $9.79 on Tuesday. The company has a market capitalization of $24.02 billion, a price-to-earnings ratio of -2.14 and a beta of 1.50. The company has a 50-day moving average of $10.36 and a 200-day moving average of $8.69. Warner Bros. Discovery has a 52 week low of $6.64 and a 52 week 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.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly 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 firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter last year, the company earned ($0.17) earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Warner Bros. Discovery will post -4.37 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the transaction, the insider now owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This represents a 22.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rosenberg Matthew Hamilton boosted its holdings in Warner Bros. Discovery by 448.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock worth $48,000 after buying an additional 3,743 shares during the last quarter. Larson Financial Group LLC boosted its stake in Warner Bros. Discovery by 54.1% during the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after acquiring an additional 1,754 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in Warner Bros. Discovery in the third quarter valued at approximately $41,000. Tompkins Financial Corp raised its holdings in Warner Bros. Discovery by 50.8% in the fourth quarter. Tompkins Financial Corp now owns 5,285 shares of the company’s stock worth $56,000 after purchasing an additional 1,780 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of Warner Bros. Discovery during the third quarter worth $51,000. 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.