Finally, Tsfg LLC bought a new stake in shares of Warner Bros. Warner Bros. A few minutes after, Warner Bros. Discoverys shares were up 1.8 percent at $16.01. Discovery this year as 'Hogwarts: Legacy' sales boom, Australias Foxtel Inks Multi-Year Deal to Retain Warner Bros. 326 E 8th St #105, Sioux Falls, SD 57103 Computershare With the close of the pending WarnerMedia transaction expected in April, the AT&T board of directors today also declared a second quarter dividend of $0.2775 per share on the companys common stock. You can unsubscribe from any of the investor alerts you are subscribed to at any time by visiting the Unsubscribe from Email Alerts section below. You should consult your tax advisor for a full understanding of the tax consequences of the Transactions to you, in light of your own particular circumstances, As of the Closing Date, Discovery issued approximately 1.7 billion shares of WBD common stock to AT&T stockholders and 695 million shares to Discovery stockholders, Based upon the reported closing price of $24.43 per share for Discovery Series A common stock on the Nasdaq Global Select Market on the last trading date prior to the Closing Date, the market capitalization for WBD is $59.3 billion, Please refer to our board of directors here: Warner Bros. However, many companies still have a long road to recovery after a challenging year. Learn More. Since then, WBD shares have increased by 60.9% and is now trading at $15.25. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. Heres What to Know. Discovery have? How many employees does Warner Bros. By providing your email address below, you are providing consent to Warner Bros. Discovery's stock price today? Already a member? We use cookies to understand how you use our site and to improve your experience. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. All rights reserved. During the two-way trading period, an AT&T shareholder also has the option of selling the right to receive shares of WBD common stock while retaining shares of AT&T common stock. Forward-looking statements include, without limitation, statements regarding future financial and operating results, the Companys plans, objectives, expectations and intentions, and other statements that are not historical facts. Discovery (starting from April 11, 2022), Warner Bros. completeness, timeliness, or correct sequencing of any of the Information on with AT&T shareholders Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. 20 analysts have issued 1 year target prices for Warner Bros. Discovery Now Sees $4 Billion In Post-Merger Cost Savings, Up From $3.5 Billion Who are Warner Bros. Discovery (NASDAQ: WBD) when the stock went public last April. The company is scheduled to release its next quarterly earnings announcement on Tuesday, April 25th 2023. Discovery in connection with the completion of the transactions (the Transactions) to acquire the WarnerMedia business from AT&T Inc. (AT&T). Discovery revealed in its fourth-quarter 2022 earnings call that engagement with Wizarding World Digital, responsible for e-commerce and online news concerning Harry Potter, skyrocketed 300% in the first 10 days of February. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Warner Bros. Discovery has received a consensus rating of Buy. The company's average rating score is 2.50, and is based on 10 buy ratings, 7 hold ratings, and 1 sell rating. According to analysts' consensus price target of $22.83, Warner Bros. Discovery has a forecasted upside of 140.9% from its current price of $9.48. The eligible owners of T stock will have the right to receive 0.24 shares of WBD stock for each share of AT&T that they own. Discovery does not currently pay a dividend. 2023 CNBC LLC. Non-personalized content is influenced by things like the content youre currently viewing, activity in your active Search session, and your location. We also use cookies and data to tailor the experience to be age-appropriate, if relevant. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. We have been chosen as the exclusive connectivity provider for Lucid's full line of electric vehicles (EVs) shipped in the U.S., Canada and Mexico. You can unsubscribe from any of the investor Within each Score, stocks are graded into five groups: A, B, C, D and F. As you might remember from your school days, an A, is better than a B; a B is better than a C; a C is better than a D; and a D is better than an F. As an investor, you want to buy stocks with the highest probability of success. AT&T has been advised by the New York Stock Exchange (the NYSE) that beginning on the trading day immediately prior to the April 5 record date for the spin-off distribution (currently April 4) and continuing through the close of trading on the business day before the closing date of the merger,1 there will be two markets in AT&T common stock on the NYSE: a "regular way" market and an "ex-distribution" market. Discovery? Discovery posted fourth-quarter revenue slightly below expectations. Delayed quotes by FIS. Discovery, Inc. (WBD) NasdaqGS - NasdaqGS Real Time Price. Additionally, the board of directors declared quarterly dividends on the companys 5.000% Perpetual Preferred Stock, Series A, and the companys 4.750% Perpetual Preferred Stock, Series C. The Series A dividend is $312.50 per preferred share, or $0.3125 per depositary share. Discovery Full Year 2022 Earnings: Misses Expectations, Warner Bros. However, its focus on producing engaging and quality content from now on could take it far, whether in gaming, streaming, or at the box office. It all happens at the free AI Super Summit. Zacks Ranks stocks can, and often do, change throughout the month. If the transaction is not completed, all trades made under these temporary symbols will be cancelled. Fourth-quarter revenue came in at $11.1 billion well short of the $11.36 billion estimates while quarterly losses came in at a total of $2.1 billion, or 86 cents per share. Discovery, Inc., formerly Discovery, Inc., is a global media and entertainment company. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. We will webcast a fireside chat with Jeff McElfresh, chief operating officer, on Wednesday, March 8, 2023. What was the record date for the distribution and when did the distribution occur? publicly available sources. Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, Copyright, Trademark and Patent Information. AWS holds the biggest market share in cloud computing at 34%, with the industry expected to grow at a CAGR of 14.1% through 2030. WebGet the latest Warner Bros Discovery Inc (WBD) real-time quote, historical performance, charts, and other financial information to help you make more informed trading and AT&T expects to close the transaction in April,second quarter dividend on common stock, payable in May,has been set according to previously announced updated dividend policy. Source: Ingus Kruklitis / Shutterstock.com. The board of directors also declared an annual dividend on the companys Fixed Rate Reset Perpetual Preferred Stock, Series B, of 2,875.00 per preferred share. Beat Bobby Flay - Food Network. WebWeeks after reports emerged of financial troubles plaguing Diamond Sports Group the largest operator of regional sports networks in the US Warner Bros. The next key catalyst for the stock will be a company event on April 12 to unveil its redesigned streaming service. You can also visit g.co/privacytools at any time. Discovery's stock was battered in 2022 after taking on $43 billion in debt from the merger of WarnerMedia and Discovery. Mr. Zaslav is responsible for the strategic direction of WBD, including its overall operations and performance, Gunnar Wiedenfels serves as Chief Financial Officer of WBD, Please refer to our senior leadership team here: Warner Bros. Nasdaq Shares of WBD stock can be purchased through any online brokerage account. All rights reserved. The scores are based on the trading styles of Value, Growth, and Momentum. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Discovery shares are the better buy right now, and a bargain at their current price. Warner Bros. Warner Bros. Discovery does not currently pay a dividend and does not currently have a direct stock purchase program, As of the Closing Date, AT&T stockholders received, on a tax-free basis, approximately 0.241917 shares of WBD common stock for each share of AT&T common stock held as of the record date, Cash was delivered to AT&T stockholders in lieu of fractional shares of WBD common stock, The exact number of shares of WBD common stock received by AT&T stockholders for each share of AT&T common stock was determined based on the number of shares of AT&T common stock outstanding and the number of shares of Discovery common stock outstanding, on a fully diluted, as-converted and as-exercised basis, immediately prior to the effective time of the Transactions, The number of shares of AT&T common stock you held was not affected by the closing of the Transactions, Discovery stockholders did not directly receive any consideration in the Transactions, Prior to the effective time of the Transactions, all shares of Discovery Series A common stock, Discovery Series B common stock, Discovery Series C common stock, Discovery Series A-1 preferred stock and Discovery Series C-1 preferred stock issued and outstanding or held by Discovery as treasury stock immediately prior to the effective time of the Transactions were reclassified and automatically converted into WBD common stock, All shares of WBD common stock issued in the reclassification were issued in book-entry form, Immediately after the Transactions, Discovery stockholders owned shares in WBD, which includes the WarnerMedia business, The distribution record date for AT&T stockholders was April 5, 2022, and ownership was determined as of 5:00pm New York City time, on that date, No distribution record date was established for Discovery stockholders as existing shares of Discovery capital stock were reclassified and automatically converted into shares of WBD common stock on the Closing Date, For AT&T stockholders: The distribution and the merger were a Reverse Morris Trust-type transaction and are expected to be tax-free to AT&T stockholders for U.S. federal income tax purposes, except to the extent that cash was paid to AT&T stockholders in lieu of fractional shares in the merger. Discovery+ will remain as a niche stand-alone service, he said. Discovery (WBD) (Real Time Quote from BATS) $15.74 USD -0.20 (-1.26%) Updated Feb 28, 2023 11:58 AM ET Add to portfolio Zacks Rank: 2-Buy 2 In Q4 2022, Warner Bros. Jack in the Box Pops On Tasty Results, Robust Outlook, Wendys Price Firms After Sizzling Quarter And Juicy Outlook, Terran Orbitals New $2.4 Billion Contract is a Game Changer, From Betty Crocker to Blue Buffalo, General Mills Looks Strong, Cracker Barrel Stock: Range Bound, but High Yield For 2023, This Small Company Is Set To Drive Future Of Lithium Batteries, What Are Blue Chip Stocks? Discovery's stock. Discovery posted fourth-quarter revenue slightly below expectations. Discovery without a stock price target. Personalized content and ads can also include more relevant results, recommendations, and tailored ads based on past activity from this browser, like previous Google searches. DTC losses of $217 million versus our $580 million and Streets $534 million (estimates) were the clear highlight of the fourth quarter, he argued. What are the U.S. federal income tax consequences of the Transactions for AT&T and Discovery stockholders? The company can be reached via phone at (240) 662-2000, via email at investor_relations@discovery.com, or via fax at 240-662-1868. The Series C dividend is $296.875 per preferred share, or $0.296875 per depositary share. Discovery stock just cleared that benchmark with an upgrade from 79 to 82. Discovery and raised his stock price target by $1.50 to $18. Discovery? The Companys actual results could differ materially from those stated or implied due to risks and uncertainties associated with its business, which include the risk factors disclosed in the Company's filings with the U.S. Securities and Exchange Commission, including but not limited to the Companys most recent Annual Report on Form 10-K and reports on Form 10-Q and Form 8-K. WBD will have paid down $7 billion in debt since the Discovery-WarnerMedia merger closed, but its still got a heavy load. In-depth profiles and analysis for 20,000 public companies. Discovery listed on? Article printed from InvestorPlace Media, https://investorplace.com/2022/04/warner-bros-discovery-wbd-stock-is-coming-heres-what-to-know/. Warner Bros. Real time prices by BATS. How can I contact Warner Bros. Copyright Warner Bros. However, the company has said that with its restructuring largely complete, 2023 is a year of rebuilding. Which Dollar Store, If Any, is Worth Your Investment Dollars? Discovery does not have a long track record of dividend growth. WBD Stock Overview. Prior to Discoverys 2022 merger with Warner Bros., WarnerMedia, then owned by AT&T, agreed to pay nearly $1.7 million for exclusive streaming rights for each The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. On the closing date of the transaction, anticipated to be in April, AT&T shareholders will receive, on a tax-free basis, an estimated 0.24 shares of stock in A Division of NBCUniversal. Information Providers, or gathered by Zacks Investment Research, Inc. from John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Two-Way Trading for AT&T Stock Expected to Begin on April 4. There are currently 1 sell rating, 7 hold ratings and 12 buy ratings for the stock. What is the market capitalization of Warner Bros. Discovery's stock is owned by a number of retail and institutional investors. You should consult your tax advisor as to the consequences of the Transactions to you, including the applicability and effect of any U.S. federal, state, and local tax laws, as well as foreign tax laws, which may result in the Transactions being taxable, For Discovery stockholders: Neither Discovery nor Discovery stockholders are expected to recognize gain or loss for U.S. federal income tax purposes upon the completion of the Transactions. Discovery, Inc. Series A Common Stock (WBD) at Nasdaq.com. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. Discovery's revenue totaled $11.01 billion, down 9% year over year, which it mainly attributed to macroeconomic headwinds that advertising. Warner Bros. Warner Bros. DALLAS, March 25, 2022 Today AT&T Inc.* (NYSE:T) announced that it has declared a stock dividend to effect the spin-off of 100% of AT&Ts interest in WarnerMedia to AT&Ts shareholders. Forward-looking statements include statements regarding the Companys expectations, beliefs, intentions or strategies regarding the future, and can be identified by forward-looking words such as anticipate, believe, could, continue, estimate, expect, intend, may, should, will and would or similar words. Warner Bros. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. They're lower by about 3.6% after the company reported fourth-quarter earnings that missed on both the top and bottom lines. Also noting WBDs guidance that it will be near streaming break-even in the first quarter before marketing costs for the combined HBO/Discovery+ service for the U.S. and Latin America hit in the second quarter, Cahall concluded: Management has increased conviction around DTC targets., But the biggest takeaway from the latest earnings report and conference call was guidance for 2023 adjusted operating income before depreciation and amortization (OIBDA) in the low to mid-$11 billion range, compared with the Wall Street expectation of $11.3 billion, continued strong free cash flow and a focus on debt reduction. What did I receive in the Transactions? Discovery announced what seemed to be coming: they were planning on exiting the regional sports network business. All rights reserved. Discovery started the new year at a disadvantage, with both their businesses hit hard in 2022. Larry began writing columns for InvestorPlace in 2015. Discovery is listed on the Nasdaq Global Select Market exchange, Warner Bros. Discoverys CUSIP is 934423104, WBD will only have one share class with each share having the same economic interest and voting power, Each share of WBD common stock will have one vote, Warner Bros. ZacksTrade and Zacks.com are separate companies. The industry with the best average Zacks Rank would be considered the top industry (1 out of 265), which would place it in the top 1% of Zacks Ranked Industries. WebWarner Bros. The Motley Fool has positions in and recommends Amazon.com, Microsoft, and Warner Bros. To make the world smarter, happier, and richer. However, the media merger has thus far been a disappointment. Dividends on the common stock and Series A and Series C preferred stock are payable on May 2, 2022, to shareholders of record of the respective shares at the close of business on April 14, 2022. All of those trades will technically settle following the closing of the merger between Warner Media and Discovery, AT&T explained. Discovery and raised his stock price target by $1.50 to $18. View institutional ownership trends. Warner Bros. February 28, 2023|americanbankingnews.com, February 27, 2023|markets.businessinsider.com. All rights reserved. Immediately following this spin-off, the WarnerMedia Spinco shares will be exchanged for stock representing approximately 71% of the new WBD on a fully diluted basis. Information set forth in this communication, including any financial estimates and statements as to the expected timing, completion and effects of the proposed transaction between AT&T, Spinco, and Discovery constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. I owned shares of AT&T common stock prior to the Closing Date. The Large Cap Rally Is Largely About These 3 Stocks (WBD), Seth Klarman's Baupost fund has likely scored a $190 million gain on Warner Bros. AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc. Additional information is available at about.att.com. Zacks Rank Education - Learn about the Zacks Rank, Zacks Rank Home - Zacks Rank resources in one place, Zacks Premium - The only way to fully access the Zacks Rank. You can unsubscribe from any of the investor alerts you are subscribed to at any time by visiting the Unsubscribe from Email Alerts section below. Amazon and Warner Bros. Warner Bros Discovery Inc does not currently pay a dividend. MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. Warner Bros. Inflation peaked at 9.1% in June 2022, leading to a stock market sell-off that sent shares in numerous consumer-reliant companies tumbling. Tolkien's books, Damn, Warner Bros. On Feb. 10, Warner Bros. Non-GAAP Financial MeasuresThis communication may contain certain non-GAAP financial measures. AT&T will get $43 billion in cash and other compensation while its shareholders (like me, a modest investor) will get stock representing 71 percent of Warner Bros. The company ended the quarter with $49.5 billion in gross debt and $3.9 billion in cash on hand. Discovery and how many votes do I get for each share? P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities. quotes delayed at least 15 minutes, all others at least 20 minutes. According to analysts' consensus price target of $21.98, Warner Bros. On the closing date of the transaction, anticipated to be in April, AT&T shareholders will receive, on a tax-free basis, an estimated 0.24 shares of stock in Warner Bros. Investors had high hopes for Warner Bros. Theres no doubt the worst is behind WBD following a challenging merger integration period.. Who serves on the WBD board of directors? contact@marketbeat.com Statement Concerning Forward-Looking Statements. Inflation has eased every month since, with the same figure at 6.4% in January 2023. Warner Bros. Discovery as a Result of the WarnerMedia Separation. Identify stocks that meet your criteria using seven unique stock screeners. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. As of April 8, 2022 (the Closing Date), Discovery, Inc. (Discovery) was renamed Warner Bros. Warner Bros. Discovery has received a consensus rating of Buy. The company's average rating score is 2.50, and is based on 10 buy ratings, 7 hold ratings, and 1 sell rating. According to analysts' consensus price target of $22.83, Warner Bros. Discovery has a forecasted upside of 140.9% from its current price of $9.48. NASDAQ data is at least 15 minutes delayed. WebWarner Bros. Sign up for free newsletters and get more CNBC delivered to your inbox. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Jim Cramer on Warner Bros Discovery's disappointing quarterly results, President, Chief Executive Officer, Director, Executive Vice President, General Counsel. For the new combined HBO/Max (name TBD), we think WBD is trying to solve for higher engagement to either reduce churn or drive more ad impressions with lean-back content beyond HBOs originals. Discovery? Reconciliations between the non-GAAP financial measures and the closest GAAP financial measures are available on Warner Bros. The P/E ratio of Warner Bros. The Zacks Rank has been called the Billion Dollar Secret. Theres even room for more lines. What exchange is Warner Bros. You must click the activation link in order to complete your subscription. The U.S. invoked the Defense Production Act to jumpstart domestic mining and production of critical minerals such as cobalt, lithium, and rare earths, which the U.S. desperately needs for its military and green tech. Computershare Trust Company, N.A. WebInformation for Stockholders Receiving Shares of Warner Bros. Amazon likely has a lucrative long-term future once economic headwinds subside. All Rights Reserved. Our concern over the course of the combination of the company was how to present the new service at an attractive price point without cannibalizing the economics of the existing offerings.. 2023 will be a year of building and off we go. Discovery fell over 50% in 2022. Cowen analyst Doug Creutz underlined the improving financial trends in Warner Bros. Discoverys streaming business though, maintaining his buy rating and $17 stock price target. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities. AT&T, the Globe logo and other marks are trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies. The company is headquartered in New York, NY. Amazon has a lot of work to do to get its e-commerce business back to profitability. Its shares fell in after-hours trading. WebWarner Bros. Discovery as of the date hereof. Cost basis and return based on previous market day close. NYSE and AMEX data is at least 20 minutes delayed. Discovery, Inc. All trademarks are the property of their respective owners. Earnings for Warner Bros. Warner Bros. The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%. The Stock Is Falling. In other words, to receive the shares of WBD stock through their AT&T stock, investors must own AT&Ts shares when the market closes today. Cautionary Statement Concerning Forward-Looking StatementsInformation set forth in this communication contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Additional details about the WarnerMedia-Discovery transaction may be found in the Form 10 registration statement, which includes an information statement, filed as Exhibit 99.1, by the WarnerMedia Spinco entity, Magallanes, Inc., which is available athttp://www.sec.gov. Toll free phone within the U.S. and Canada: +1 877-453-1510, Direct dial outside the U.S. and Canada: +1 781-575-4236. The company's average rating score is 2.55, and is based on 12 buy ratings, 7 hold ratings, and 1 sell rating. Pascal Desroches, senior executive vice president and chief financial officer, provided an update to shareholders, continuing focus on 5G and fiber services. Let's assess. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Stock Ratings Reports After close, investors should expect that AT&Ts share price will adjust to reflect the transfer of the WarnerMedia business to the newly formed Warner Bros. Seth Klarman's Baupost has likely made a $190 million gain on Warner Bros. Discovery is getting out of the RSN business, looks to transfer ownership and media rights to teams, Warner Bros Discovery's shares fall as ad market recovery looks uncertain, Warner Bros. In the theme of rebuilding, the entertainment giant has started 2023 with massive success in video games. State of the Union - CNN. Got a confidential news tip? View the best growth stocks for 2023 here. But he lauded significant direct-to-consumer progress. After all, WBDs quarterly streaming losses of $217 million narrowed significantly compared with the more than $600 million recorded in the third quarter. Discovery (NASDAQ:WBD) has a market capitalization of $37.76 billion and generates $33.82 billion in revenue each year. Discovery posted fourth-quarter revenue slightly below expectations. Export data to Excel for your own analysis. Discovery trades on the NASDAQ under the ticker symbol "WBD.". 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Settle following the Closing of the Transactions for at & T Common prior... Its restructuring largely complete, 2023 is a global media and discovery stockholders US Warner Bros at $ 15.25 regional... You are being directed to ZacksTrade, a division of LBMZ Securities and licensed.! Has been called the billion Dollar Secret cookies to understand how you use our site to! Damn, Warner Bros year 2022 earnings: Misses Expectations, Warner Bros. on Feb. 10, Bros....