Citigroup Boosts Warner Bros. Discovery (NASDAQ:WBD) Price Target to $15.00

Warner Bros. Discovery (NASDAQ:WBD) had its price objective upped by stock analysts at Citigroup from $13.00 to $15.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 36.24% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a report on Thursday, December 19th. Barclays increased their target price on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Bank of America reaffirmed a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price objective for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. boosted their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and an average target price of $11.91.

Warner Bros. Discovery Stock Down 2.7 %

WBD stock traded down $0.31 during mid-day trading on Wednesday, hitting $11.01. The stock had a trading volume of 10,731,755 shares, compared to its average volume of 29,907,536. Warner Bros. Discovery has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a fifty day moving average of $10.36 and a 200 day moving average of $9.34. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $27.01 billion, a price-to-earnings ratio of -2.41, a PEG ratio of 8.64 and a beta of 1.49.

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

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the transaction, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value 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 approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in shares of Warner Bros. Discovery by 3.1% during the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after purchasing an additional 78,653 shares in the last quarter. Hauser Brothers GmbH lifted its holdings in Warner Bros. Discovery by 56.1% during the 3rd quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock worth $10,106,000 after buying an additional 440,000 shares in the last quarter. Erste Asset Management GmbH bought a new position in Warner Bros. Discovery in the 3rd quarter valued at $1,474,000. Blueshift Asset Management LLC acquired a new stake in shares of Warner Bros. Discovery in the 3rd quarter valued at $588,000. Finally, Natixis Advisors LLC raised its position in shares of Warner Bros. Discovery by 22.7% during the third quarter. Natixis Advisors LLC now owns 280,982 shares of the company’s stock worth $2,318,000 after acquiring an additional 52,051 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

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.