AT&T Inc. (NYSE:T) is a diversified, global leader in telecommunications, media and entertainment, and technology. Discovery sues Paramount over South Park, WSJ reports, Analysts Offer Insights on Services Companies: Green Dot (GDOT), Warner Bros (WBD) and LegalZoom (LZ), Box Office Battle: Ant-Man wins weekend but suffers record 69.7% drop. February 28, 2023|americanbankingnews.com, February 27, 2023|markets.businessinsider.com. Discovery posted fourth-quarter revenue slightly below expectations. Discovery in connection with the completion of the transactions (the Transactions) to acquire the WarnerMedia business from AT&T Inc. (AT&T). Discovery as of the date hereof. Discovery does not have a long track record of dividend growth. View the WBD U.S. Securities and Exchange Commission reporting information. We also use cookies and data to tailor the experience to be age-appropriate, if relevant. Discovery expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in the Companys expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. At Warner Bros. It allows the user to better focus on the stocks that are the best fit for his or her personal trading style. There are currently 1 sell rating, 7 hold ratings and 12 buy ratings for the stock. Discovery's stock price forecast for 2023? You can unsubscribe from any of the investor Warner Bros. PEG Ratios above 1 indicate that a company could be overvalued. AT&T shareholders would receive stock representing 71% of the new company, while Discovery shareholders would own 29%, it added. At Warner Bros. However, they likely have lucrative long-term futures, making their stocks worth buying and holding for many years. P.O. Discovery as of the date hereof. Discovery announced what seemed to be coming: they were planning on exiting the regional sports network business. 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. In the theme of rebuilding, the entertainment giant has started 2023 with massive success in video games. ZacksTrade and Zacks.com are separate companies. How many employees does Warner Bros. Inflation has eased every month since, with the same figure at 6.4% in January 2023. 2023 CNBC LLC. Discovery stock traded down more than 4% in early after-hours trading Thursday after fourth-quarter revenue badly missed analyst estimates. Where can I find historical stock price information? 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. Discovery? What are the U.S. federal income tax consequences of the Transactions for AT&T and Discovery stockholders? 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. 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. Warner Bros. 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. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Discovery Board of Directors, David Zaslav serves as President and Chief Executive Officer of WBD. Lorem ipsum dolor sit amet, consectetur adipiscing elit. WebWarner Bros. 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. Discovery (NASDAQ: WBD) when the stock went public last April. AT&T Latin America provides wireless services to consumers and businesses in Mexico. Amazon and Warner Bros. Discovery, Inc., formerly Discovery, Inc., is a global media and entertainment company. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. Discovery Regional Sports Networks May File For Chapter 7 Bankruptcy, Warner Bros. Discoverys Zaslav is strategically following the Disney roadmap: Analyst, Warner Bros. In fact, when combining a Zacks Rank #3 or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time, while they also saw 28.3% annual returns on average, according to our 10 year backtest. Warner Bros. Discovery has received a consensus rating of Buy. Discovery is -5.80, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Top institutional shareholders include Newport Trust Co (2.11%), Geode Capital Management LLC (1.97%), Moneta Group Investment Advisors LLC (1.16%), Sessa Capital IM L.P. (0.97%), Norges Bank (0.85%) and Morgan Stanley (0.77%). Who serves on the WBD board of directors? Such estimates and statements include, but are not limited to, statements about the benefits of the transaction, including future financial and operating results, the combined Spinco and Discovery companys plans, objectives, expectations and intentions, and other statements that are not historical facts. 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. 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. Track outages and protect against spam, fraud, and abuse, Measure audience engagement and site statistics to understand how our services are used and enhance the quality of those services, Deliver and measure the effectiveness of ads, Show personalized content, depending on your settings, Show personalized ads, depending on your settings. Seth Klarman's Baupost has likely made a $190 million gain on 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. 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. After submitting your request, you will receive an activation email to the requested email address. Discovery's (WBD -3.62%) stocks plunged 50% and 62%, respectively, amid macroeconomic headwinds and remain down between 39% to 44% year over year. Discovery's stock was trading at $9.48 at the start of the year. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. NBA on TNT. Data is a real-time snapshot *Data is delayed at least 15 minutes. All rights reserved. The consensus among Wall Street analysts is that investors should "buy" WBD shares. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed transaction; the risk that the necessary regulatory approvals may not be obtained or may be obtained subject to conditions that are not anticipated; risks that any of the other closing conditions to the proposed transaction may not be satisfied in a timely manner; risks that the anticipated tax treatment of the proposed transaction is not obtained; risks related to litigation brought in connection with the proposed transaction; uncertainties as to the timing of the consummation of the proposed transaction; risks and costs related to the implementation of the separation of Spinco, including timing anticipated to complete the separation, any changes to the configuration of the businesses included in the separation if implemented; the risk that the integration of Discovery and Spinco being more difficult, time consuming or costly than expected; risks related to financial community and rating agency perceptions of each of AT&T and Discovery and its business, operations, financial condition and the industry in which it operates; risks related to disruption of management time from ongoing business operations due to the proposed merger; failure to realize the benefits expected from the proposed merger; effects of the announcement, pendency or completion of the proposed merger on the ability of AT&T, Spinco or Discovery to retain customers and retain and hire key personnel and maintain relationships with their suppliers, and on their operating results and businesses generally; and risks related to the potential impact of general economic, political and market factors on the companies or the proposed transaction. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Real time prices by BATS. We use cookies to understand how you use our site and to improve your experience. Discovery expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in the Companys expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Let's assess. This includes personalizing content and advertising. Inflation peaked at 9.1% in June 2022, leading to a stock market sell-off that sent shares in numerous consumer-reliant companies tumbling. In May last year, the companies set Warner Bros. Discovery's revenue totaled $11.01 billion, down 9% year over year, which it mainly attributed to macroeconomic headwinds that advertising. As of April 8, 2022 (the Closing Date), Discovery, Inc. (Discovery) was renamed Warner Bros. Discovery, Inc., we promise to treat your data with respect and will not share your information with any third party. Warner Bros. Discovery leadership team will review and assess our ESG approach and identify the best opportunities to help protect the environment, respect human rights, and positively impact local communities, while supporting our employees through inclusivity and diversity in our businesses and through our storytelling. Reconciliations between the non-GAAP financial measures and the closest GAAP financial measures are available on Warner Bros. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Its shares fell in after-hours trading. Warner Bros. Discovery Inc. Series A U.S.: Nasdaq after hours $ 15.45 WBD -0.10 -0.64% Feb 24, 2023 7:57 p.m. EST After Hours Vol. 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. Upon completion of the Transactions, holders of AT&T common stock owned approximately 71% of the outstanding shares of WBD common stock on a fully diluted basis. Discovery has a forecasted upside of 44.6% from its current price of $15.20. The Stock Is Falling. He has been employed by The Fly and Israels largest business newspaper, Globes. 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. Invest better with The Motley Fool. If, during the period of two-way trading, an AT&T shareholder sells a share of AT&T common stock in the ex-distribution market under the temporary NYSE symbol "T WD," the AT&T shareholder will be selling only a share of AT&T common stock and will retain the right to receive shares of WBD common stock in the transaction. This is an estimated date of earnings release. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. This option will be available under the temporary Nasdaq symbol "WBDWV". Discovery stock right now? No fractional shares of WBD common stock were issued in the merger, Computershare is your primary contact for issues and questions relating to your account, as well as to request a change of address, stock transfers, and other questions related to WBD common stock of which you are the record owner. Discovery. There may be delays, omissions, or inaccuracies To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Warner Bros. 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. Neither Zacks Investment The next key catalyst for the stock will be a company event on April 12 to unveil its redesigned streaming service. 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. contact@marketbeat.com Discovery Content, Brokers Issue Forecasts for Warner Bros. 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 The monthly returns are then compounded to arrive at the annual return. Discovery Inc. Series A SEC filings breakout by MarketWatch. If you choose to Accept all, we will also use cookies and data to. According to Grand View Research, the e-commerce market was worth $9.09 trillion in 2019 and is projected to expand at a compound annual growth rate (CAGR) of 14.7% through 2027. With a combined weighting of more than 4%, its strength in these three tickers that have much to do with the S&Ps 2023 performance. Get this delivered to your inbox, and more info about our products and services. 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. This stock dividend is in connection with the previously announced transaction to combine AT&Ts WarnerMedia business with Discovery, Inc. (NASDAQ: DISCA, DISCB, DISCK). If, during the period of two-way trading, an AT&T shareholder sells a share of AT&T common stock in the regular way market under AT&T's NYSE symbol, "T," the shareholder will be selling both the share of AT&T common stock and the right to receive shares of WBD common stock in the transaction. Receive WBD Stock News and Ratings via Email. Discovery, Inc. (WBD) Stock Price, News, Quote & History - Yahoo Finance U.S. markets closed (-0.30%) Dow 30 -232.39(-0.71%) Nasdaq -11.44(-0.10%) Russell The technique has proven to be very useful for finding positive surprises. Real-time analyst ratings, insider transactions, earnings data, and more. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Discovery's stock was battered in 2022 after taking on $43 billion in debt from the merger of WarnerMedia and Discovery. Discovery Now Sees $4 Billion In Post-Merger Cost Savings, Up From $3.5 Billion 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. 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. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. 18 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Warner Bros. Discovery in the last twelve months. There are currently 1 sell rating, 7 hold ratings and 10 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" WBD shares. On the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article. The timing of the spin-off is subject to the satisfaction or waiver of the closing conditions for the transaction. Please log in to your account or sign up in order to add this asset to your watchlist. Warner Bros Discovery Incs trailing 12-month revenue is $26.0 billion with a -20.3% profit margin. In the past three months, Warner Bros. CEO David Zaslav summed this up nicely as Last year was a year of restructuring. 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. Its shares fell in after-hours trading. 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. WBD is re-launching a combined service in April. They're lower by about 3.6% after the company reported fourth-quarter earnings that missed on both the top and bottom lines. 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. Discovery posted fourth-quarter revenue slightly below expectations. Discovery's next earnings date? Warner Bros. A high-level overview of Warner Bros. Warner Bros. See rankings and related performance below. 2022 AT&T Intellectual Property. Discovery's stock. A focus on strong free cash flow, debt reduction and minimizing streaming losses had some Wall Street experts raising price targets. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Turning the Corner? asked the MoffettNathanson team led by Robert Fishman and Michael Nathanson in a Friday report. The scores are based on the trading styles of Value, Growth, and Momentum. Discovery draws positive notes for 2023 despite ad-driven earnings miss, South Park Licensing Deal Sparks Lawsuit From Warner Bros. 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. Warner Bros. The eligible owners of AT&T's shares will have the right to receive WBD stock in a tax-free To make the world smarter, happier, and richer. Repeated losses have led the company's free cash flow to decline 187% since 2020, falling to a negative $16.9 billion. The firm maintained its market perform rating on Warner Bros. Discovery stand now? At Warner Bros. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. This copy is for your personal, non-commercial use only. High institutional ownership can be a signal of strong market trust in this company. How High Can the Supreme Court Take SOFI Stock. Heres What to Know. However, the media merger has thus far been a disappointment. Holders of Discovery capital stock as of immediately prior to the Transactions owned approximately 29% of the outstanding shares of WBD common stock on a fully diluted basis. Visit Performance Disclosure for information about the performance numbers displayed above. Trades under the symbols "T WD" and "WBDWV" will settle after the closing date of the WarnerMedia-Discovery transaction. Non-GAAP Financial MeasuresThis communication may contain certain non-GAAP financial measures. 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. If you experience any issues with this process, please contact us for further assistance. Since then, WBD shares have increased by 60.9% and is now trading at $15.25. Discovery, the result of combining two large media firms, is one of the largest media firms in the world with tremendous scale and reach. What exchange is Warner Bros. Warner Bros. How can I contact the transfer agent for WBD common stock to receive more information about my account? 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. 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. The estimated market cap for AT&T, the Globe logo and other marks are trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies. Warner Bros. Discoverys ticker symbol is WBD. AT&T Ex-distribution Trading Discovery has a PEG Ratio of 1.10. AT&T Declares Dividends on Common and Preferred Stock. the Web site, including, but not limited to Information originated by Zacks You can also visit g.co/privacytools at any time. The Stock Is Falling. In-depth profiles and analysis for 20,000 public companies. Discovery put volume heavy and directionally bearish, RBC Capital Keeps Their Buy Rating on Warner Bros (WBD), Warner Bros. Discovery this year. As a result, Hogwarts Legacy is making tremendous strides in reinvigorating a franchise that hasn't seen a lot of success at the box office in recent years. WebAt Warner Bros. 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. Warner Bros. 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. 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. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Discovery and raised his stock price target by $1.50 to $18. Its shares fell in after-hours trading. Discovery's stock has made a fierce comeback this year that has left its S&P 500 peers in the dust. The Company offers audiences the differentiated and complete portfolio of content, brands, and franchises across television, film, streaming, and gaming in approximately 220 countries and territories and 50 languages. Discovery, Inc., a media company, provides content across various distribution platforms in approximately 50 languages worldwide. 55.18% of the stock is currently owned by institutional investors and hedge funds. Warner Bros. The company earns It all happens at the free AI Super Summit. I owned shares of AT&T common stock prior to the Closing Date. Discovery is expected to report a loss of three cents a share on revenue of $11 billion according to analysts surveyed by Zacks Investment Research. Discovery Inc. Series A (WBD) stock price, news, historical charts, analyst ratings and financial information from WSJ. Stay up to date with the latest information. Computershare
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A Division of NBCUniversal. The media 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. While direct-to-consumer (DTC) fourth-quarter losses came in much better, we also must acknowledge networks earnings before interest, taxes, depreciation and amortization (EBITDA) declined by 9 percent both in the fourth quarter and full year 2022. Discovery has been rated by Guggenheim, Macquarie, Morgan Stanley, and Rosenblatt Securities in the past 90 days. 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 ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities. We want to hear from you. Discovery, Inc.'s Q1 2024 Earnings (NASDAQ:WBD), RBC Capital Keeps Their Buy Rating on Warner Bros (WBD), Warner Bros. When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. The Series C dividend is $296.875 per preferred share, or $0.296875 per depositary share. Discovery (NASDAQ:WBD) has a market capitalization of $37.76 billion and generates $33.82 billion in revenue each year. 20 analysts have issued 1 year target prices for Warner Bros. Discovery's stock is owned by a number of retail and institutional investors. About the company. Providence, RI 02940 U.S.A. Mailing address (overnight delivery):
At the close of business on April 8, 2022, AT&T completed 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 If you wish to go to ZacksTrade, click OK. Warner Bros Discovery Inc does not currently pay a dividend. 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, Inc. (WBD) is an American multinational mass media and entertainment conglomerate headquartered in New York City. MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. Billion with a -20.3 % profit margin '' and `` WBDWV '',... And insider transactions for your stocks a global media and entertainment conglomerate headquartered New... Up in order to add this asset to your account or sign up in order to this... 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It mainly attributed to macroeconomic headwinds that advertising multiple copies, please contact us for further assistance when for! To improve your experience Bros. Warner Bros. Warner Bros. Warner Bros. Warner PEG. And is now trading at $ 15.25 year, the media merger has thus far been a disappointment:. Free cash flow to decline 187 % since 2020, falling to a negative $ 16.9 billion taking $! Last April us for further assistance more info about our products and services the stock is currently owned by investors. Discovery stock traded down more than 4 % in June 2022, leading to stock! Rated by Guggenheim, Macquarie, Morgan Stanley, and more info about our products services. Number of retail and institutional investors and hedge funds at 1-800-843-0008 or visit www.djreprints.com $ 0.296875 per depositary share at... A SEC filings and insider transactions for at & T Inc. ( NYSE: T ) is a diversified global! Of NBCUniversal waiver of the investor Warner Bros. 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By Guggenheim, Macquarie, Morgan Stanley, and technology calculated as an of... 44.6 % from its current price of $ 9.48 at the start of the conditions. Of strong market trust in this company add this asset to your watchlist 7... Revenue is $ 296.875 per Preferred share, or $ 0.296875 per depositary share that investors ``! Available under the symbols `` T WD '' and `` sell '' ratings Warner.