Citigroup Forecasts Strong Price Appreciation for Warner Bros. Discovery (NASDAQ:WBD) Stock

Warner Bros. Discovery (NASDAQ:WBD) had its price objective raised by research analysts at Citigroup from $13.00 to $15.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 40.19% from the stock’s previous close.

Several other research firms have also recently commented on WBD. 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 research note on Tuesday, January 14th. Guggenheim boosted their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Rosenblatt Securities upped their target price on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. 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, KeyCorp increased their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.91.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $10.70 on Wednesday. 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 company has a market capitalization of $26.25 billion, a price-to-earnings ratio of -2.34, a price-to-earnings-growth ratio of 8.64 and a beta of 1.49. The company’s 50 day simple moving average is $10.38 and its 200-day simple moving average is $9.35. Warner Bros. Discovery has a 1 year low of $6.64 and a 1 year high of $12.70.

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

Insider Buying and Selling at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $11.41 per share, with a total value of $197,917.86. Following the completion of the purchase, the director now owns 159,932 shares in the company, valued at $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of WBD. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Warner Bros. Discovery in the 4th quarter valued at $14,547,000. Polar Asset Management Partners Inc. purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $3,022,000. Ameriflex Group Inc. acquired a new position in shares of Warner Bros. Discovery during the fourth quarter worth about $30,000. Forum Financial Management LP raised its holdings in Warner Bros. Discovery by 201.5% during the fourth quarter. Forum Financial Management LP now owns 43,203 shares of the company’s stock worth $457,000 after purchasing an additional 28,874 shares in the last quarter. Finally, Michels Family Financial LLC acquired a new stake in Warner Bros. Discovery in the fourth quarter valued at about $497,000. Institutional investors and hedge funds 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.