Stay up to date with the latest information. The ownership of the combined company following the Transactions was the result of a negotiated value exchange between AT&T and Discovery, which was based upon each partys valuations of Discovery and the WarnerMedia business, prior to the execution of the agreements defining the Transactions in May 2021. Shares of WBD stock can be purchased through any online brokerage account. Inflation peaked at 9.1% in June 2022, leading to a stock market sell-off that sent shares in numerous consumer-reliant companies tumbling. Discovery secured the rights to J.R.R. WebInformation for Stockholders Receiving Shares of Warner Bros. Discovery posted fourth-quarter revenue slightly below expectations. The U.S. is dangerously lacking in critical minerals such as cobalt, lithium, and rare earths needed to maintain our national security. Non-personalized content is influenced by things like the content youre currently viewing, activity in your active Search session, and your location. Seth Klarman's Baupost has likely made a $190 million gain on 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. Dani Cook has no position in any of the stocks mentioned. Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. 20 analysts have issued 1 year target prices for Warner Bros. Warner Bros. The big question is whether the legacy Discovery content fits that bill., Barrington Researchs James Goss also emphasized the positives and the open questions in his Friday report, in which he maintained his market perform rating on Warner Bros. The timing of the spin-off is subject to the satisfaction or waiver of the closing conditions for the transaction. WebOur Series A common stock, par value $0.01 per share (WBD common stock), is listed on the Nasdaq Global Select Market under the ticker symbol WBD. Computershare Theres even room for more lines. Discovery? No cost, no obligation to buy anything ever. Its shares fell in after-hours trading. The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%. On the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article. Discovery? If you wish to go to ZacksTrade, click OK. It all happens at the free AI Super Summit. ZacksTrade and Zacks.com are separate companies. Warner's recent prioritization of quality over quantity in its content is promising for its future. Discovery. 55.18% of the stock is currently owned by institutional investors and hedge funds. Discovery's stock symbol? House of the Dragon - HBO. If you experience any issues with this process, please contact us for further assistance. Warner Bros. This suggests a possible upside of 44.1% from the stock's current price. Warner Bros. He sees increased clarity on the companys combined streaming offerings as key as management is set to unveil its plans in mid-April. Stock Ratings Reports AT&T shareholders as of the stock dividend record date will be entitled to receive shares of WarnerMedia Spinco common stock, representing 100% of AT&Ts interest in WarnerMedia. 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. After submitting your request, you will receive an activation email to the requested email address. Warner Bros. Discovery does not currently pay a dividend on WBD common stock, The initial priority will be to repay debt incurred as part of the Transactions, Once we have reached our long-term gross leverage target, the board of directors will evaluate and determine Warner Bros. Discoverys capital allocation priorities, Warner Bros. Discovery, Inc. to send you the requested investor email alerts. The close of the transaction births new company Warner Bros. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. Discovery have? the Web site, including, but not limited to Information originated by Zacks By creating a free account, you agree to our, Home Depot Stock Earnings Slide, Long Term Value Still There, AbbVie Stock Still a Solid Buy Despite Challenges, Executive Vice President & General Counsel. AT&T Latin America provides wireless services to consumers and businesses in Mexico. How High Can the Supreme Court Take SOFI Stock. Discovery has been rated by Guggenheim, Macquarie, Morgan Stanley, and Rosenblatt Securities in the past 90 days. Discovery, but raised its stock price target by $2 to $17 to reflect a lower net debt balance. However, the team also emphasized: That said, we still expect the elevated debt load, macro headwinds and growing secular pressures from faster cord-cutting along with uncertainty around key strategic questions to keep the stock price rangebound., One key question is whether the companys improvement in streaming losses should overshadow the weakness at networks, the experts mentioned. The media Pascal Desroches, senior executive vice president and chief financial officer, provided an update to shareholders, continuing focus on 5G and fiber services. Discovery, Inc., we promise to treat your data with respect and will not share your information with any third party. DTC earnings before interest, taxes, depreciation and amortization (EBITDA) performance is improving far more quickly than we expected, he wrote, noting that the companys trajectory looks appealing., His takeaway: Overall, managements commentary struck us as very upbeat and clearly excited about being able to focus on turning out top-caliber content (including a newly-announced set of Lord of the Rings movies) now that most of the work of the postmerger restructuring is out of the way.. Discovery released the Harry Potter-themedvideo gameHogwarts Legacy. Warner Bros. AT&T Communications provides more than 100 million U.S. consumers with communications and entertainment experiences across mobile and broadband. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Discovery's major shareholders? Source: Ingus Kruklitis / Shutterstock.com. Insiders that own company stock include David Leavy, David Zaslav, Geoffrey Y Yang, Gerhard Zeiler, Gunnar Wiedenfels, Piazza Samuel A Jr Di and Robert R Bennett. AT&T shareholders continue to hold the same number of shares of AT&T common stock they held immediately prior to close. Discussions of additional risks and uncertainties are contained in AT&Ts and Discoverys filings with the Securities and Exchange Commission. Warner Bros. Please log in to your account or sign up in order to add this asset to your watchlist. Discovery and raised his stock price target by $1.50 to $18. 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. View our WBD earnings forecast. AT&T shareholders would receive stock representing 71% of the new company, while Discovery shareholders would own 29%, it added. Discovery as a Result of the WarnerMedia Separation. WebFind the latest dividend history for Warner Bros. Warner Bros. Statement Concerning Forward-Looking Statements. (Computershare) serves as the transfer agent and registrar for WBD common stock. Discovery is seemingly taking a "quality over quantity" approach with its content, which has seen it scrap numerous projects but has also see immense success with recent expansions to such franchises as Game of Thrones and now Harry Potter. See Zacks' latest analysis free. Is Stellantis Stock a Value Investors Dream? 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. Investors were also concerned with some of the company's controversial and expensive restructuring moves. 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. But some also turned their attention to questions about the future. NYSE and AMEX data is at least 20 minutes delayed. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. Discovery's (WBD) Q4 Earnings, Ad Sales Drop Y/Y, Warner Bros. Warner Bros. Subscribe for full access to The Hollywood Reporter. A Division of NBCUniversal. Investors will pay close attention. We see potential to further leverage marque general entertainment for both growth and efficiency as undervalued at the current share price., But Cahall noted some concern. This release has been revised since it was originally published to update the NYSE symbol for AT&T common stock trading in the ex-distribution market. Turning the Corner? asked the MoffettNathanson team led by Robert Fishman and Michael Nathanson in a Friday report. 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. A focus on strong free cash flow, debt reduction and minimizing streaming losses had some Wall Street experts raising price targets. Sign up below to get this incredible offer! 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. Invest better with The Motley Fool. The scores are based on the trading styles of Value, Growth, and Momentum. Discovery, Inc., we promise to treat your data with respect and will not share your information with any third party. 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. Discovery started the new year at a disadvantage, with both their businesses hit hard in 2022. Discovery is -5.80, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. 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, Inc. (WBD) stock. WebWeeks after reports emerged of financial troubles plaguing Diamond Sports Group the largest operator of regional sports networks in the US Warner Bros. Out of the dark, but have they made it to the light? Cahall summarized the key question. 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. The eligible owners of AT&T's shares will have the right to receive WBD stock in a tax-free transaction. 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. View institutional ownership trends. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. A high-level overview of Warner Bros. 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. Discovery Content, Brokers Issue Forecasts for Warner Bros. Discovery have a direct stock purchase and dividend reinvestment program? Discovery posted fourth-quarter revenue slightly below expectations. State of the Union - CNN. Factors that May Affect the Timing of the Spin-Off. Wall Street Hunts for Evidence of Turnaround Momentum in Warner Bros. This stock dividend is in connection with the previously announced transaction to combine AT&Ts WarnerMedia business with Discovery, Inc. (NASDAQ: DISCA, DISCB, DISCK). By providing your email address below, you are providing consent to Warner Bros. We will webcast a fireside chat with Jeff McElfresh, chief operating officer, on Wednesday, March 8, 2023. Non-GAAP Financial MeasuresThis communication may contain certain non-GAAP financial measures. Discovery Board of Directors. 2023 will be a year of building and off we go. An error has occurred, please try again later. Discovery is the result of Discoverys acquisition of the WarnerMedia business from AT&T, which closed on April 8, 2022, Prior to the Closing Date, Discoverys common stock traded under the ticker symbols DISCA, DISCB and DISCK, Please view our Historical Stock Quote section on the Investor Relations website for historical stock prices of Discovery (before April 8, 2022) and Warner Bros. 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 How can I contact Warner Bros. Discoverys investor relations team? However, the media merger has thus far been a disappointment. 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. There may be delays, omissions, or inaccuracies Does Warner Bros. Discovery shares are the better buy right now, and a bargain at their current price. They're lower by about 3.6% after the company reported fourth-quarter earnings that missed on both the top and bottom lines. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. How do I buy shares of Warner Bros. 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. Nasdaq 2022 AT&T Intellectual Property. WBD stock began trading today at $24.08 a share. Warner Bros. Discovery Against Paramount Global, Warner Bros. CEO Says James Gunn's DCU Plans Are a 'Game Changer' for the Company, New 'Lord of the Rings' movies are coming after Warner Bros. All rights reserved. Warner Bros. Larry began writing columns for InvestorPlace in 2015. These returns cover a period from January 1, 1988 through January 2, 2023. Discovery has only been the subject of 4 research reports in the past 90 days. 2023 The Hollywood Reporter, LLC. It creates and distributes a portfolio of content and brands across television, film, and streaming. Discovery (WBD) Stock Is Coming. * indicates the important links in the menu. An Overview of Blue Chips. 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. Discovery entity. The stock has traded between $15.55 and $16.34 so far today. As of April 8, 2022 (the Closing Date), Discovery, Inc. (Discovery) was renamed Warner Bros. As the fourth-quarter earnings cycle for Big Media closes Thursday, with Warner Bros. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. Well, AT&T is spinning off Warner Media, which will combine with Discovery (NASDAQ:DISCA) to form Warner Bros. The Series C dividend is $296.875 per preferred share, or $0.296875 per depositary share. That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style. Discovery posted fourth-quarter revenue slightly below expectations. On the closing date of the transaction, each AT&T shareholder will receive, on a tax-free basis, an estimated 0.24 shares of the new WBD common stock for each share of AT&T common stock held as of the record date for the In the past three months, Warner Bros. These forward-looking statements are based on current expectations, forecasts, and assumptions that involve risks and uncertainties and on information available to Warner Bros. This is our short term rating system that serves as a timeliness indicator for stocks over the next 1 to 3 months. 1125 N. Charles St, Baltimore, MD 21201. Meanwhile, Amazon is by far the biggest online retailer with a 37.8% U.S. market share. Discovery Now Sees $4 Billion In Post-Merger Cost Savings, Up From $3.5 Billion 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. Heres What to Know. Warner Bros. Discovery, Inc., a media company, provides content across various distribution platforms in approximately 50 languages worldwide. You can reach him on Stocktwits at @larryramer. Thank you for your interest and ownership in Warner Bros. Discovery, Inc. 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