Warner Bros. Discovery (NASDAQ:WBD) Given New $10.00 Price Target at JPMorgan Chase & Co.

Warner Bros. Discovery (NASDAQ:WBD) had its price target raised by JPMorgan Chase & Co. from $9.00 to $10.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group increased their price target on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Macquarie increased their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Raymond James boosted their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Finally, Barclays boosted their price objective on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $11.56.

Warner Bros. Discovery Trading Down 3.3 %

NASDAQ WBD opened at $9.47 on Tuesday. 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. The stock’s 50 day moving average price is $10.36 and its two-hundred day moving average price is $8.70. The stock has a market capitalization of $23.23 billion, a price-to-earnings ratio of -2.07, a PEG ratio of 9.12 and a beta of 1.50.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $9.79 billion. During the same period in the previous year, the business earned ($0.17) EPS. The company’s revenue was down 3.6% compared to the same quarter last year. As a group, analysts anticipate that Warner Bros. Discovery will post -4.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Savalle Sims sold 169,436 shares of the business’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 value of $2,094,228.96. Following the completion of the sale, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of hedge funds have recently added to or reduced their stakes in WBD. Sugar Maple Asset Management LLC acquired a new stake in shares of Warner Bros. Discovery during the 4th quarter worth $33,000. Future Financial Wealth Managment LLC acquired a new position in Warner Bros. Discovery in the third quarter valued at about $41,000. Larson Financial Group LLC lifted its position in Warner Bros. Discovery by 54.1% during the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after purchasing an additional 1,754 shares during the period. Quarry LP increased its holdings in Warner Bros. Discovery by 2,185.1% in the 2nd quarter. Quarry LP now owns 6,307 shares of the company’s stock valued at $47,000 after buying an additional 6,031 shares during the period. Finally, Rosenberg Matthew Hamilton raised its position in shares of Warner Bros. Discovery by 448.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after buying an additional 3,743 shares in the last quarter. 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.