Wall Street Hunts for Evidence of Turnaround Momentum in Warner Bros. Real-time analyst ratings, insider transactions, earnings data, and more. Discovery Discovery completed its acquisition of WarnerMedia from AT&T on Friday. Visit Performance Disclosure for information about the performance numbers displayed above. 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. 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. Please log in to your account or sign up in order to add this asset to your watchlist. WebInformation for Stockholders Receiving Shares of Warner Bros. Discovery (WBD) Stock Is Coming. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. 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 next key catalyst for the stock will be a company event on April 12 to unveil its redesigned streaming service. 2023 InvestorPlace Media, LLC. 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. Reduced streaming losses, strong free cash flow and a focus on debt reduction those were some of the positives in Warner Bros. Discoverys fourth-quarter earnings update on Feb. 24 that were dissected by Wall Street experts overnight. Larry began writing columns for InvestorPlace in 2015. Analysts expect adjusted earnings to reach $-1.681 per share for the current fiscal year. Investment Research, Inc, licensed by Zacks Investment Research, Inc. from You must click the activation link in order to complete your subscription. Among his highly successful, contrarian picks have been PLUG, XOM and solar stocks. Discovery's investor relations website at https://ir.wbd.com . I owned shares of AT&T common stock prior to the Closing Date. The media 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. Factors that May Affect the Timing of the Spin-Off. NASDAQ data is at least 15 minutes delayed. 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. 1125 N. Charles St, Baltimore, MD 21201. 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 Discovery, we strive to be the global leader in media and entertainment, serving audiences and consumers around the world with content that informs, entertains, Discovery is held by insiders. Discovery stock right now? Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Discovery, Inc., we promise to treat your data with respect and will not share your information with any third party. The Stock Is Falling. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Discovery. View our WBD earnings forecast. 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. On the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article. Investors were also The Stock Is Falling. What did I receive in the Transactions? Warner Bros. The company earns 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. 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.. 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. Warner Bros. Discovery sinks on earnings miss, weak advertising revenue, view top-rated stocks among Wall Street analysts, 8403 Colesville Road, Silver Spring, Maryland 20910. 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. Discovery, Inc. (Warner Bros. Discovery or WBD). You must click the activation link in order to complete your subscription. 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. Discovery shares are the better buy right now, and a bargain at their current price. 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. 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. By providing your email address below, you are providing consent to 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. We also use cookies and data to tailor the experience to be age-appropriate, if relevant. Stock Ratings Reports As of April 8, 2022 (the Closing Date), Discovery, Inc. (Discovery) was renamed Warner Bros. Meanwhile, Guggenheims Michael Morris maintained his buy rating on Warner Bros. Dividends on the Series B preferred stock are payable on May 3, 2022, to shareholders of record as of the close of business on April 14, 2022. Discovery, Inc. All trademarks are the property of their respective owners. What are the U.S. federal income tax consequences of the Transactions for AT&T and Discovery stockholders? 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. House of the Dragon - HBO. The company can offer a broader array of programming options within the product and still intends to offer Discovery+, Goss said. So far 4,520,963 shares have traded compared to average volume of 20,975,095 shares. Discovery pay a dividend? We use cookies to understand how you use our site and to improve your experience. Discovery, Inc. operates as a media and entertainment company. WebWarner Bros. Discovery? Discovery's stock price today? 20 analysts have issued 1 year target prices for Warner Bros. Receive WBD Stock News and Ratings via Email. Discovery, we strive to be the global leader in media and entertainment, serving audiences and consumers around the world with content that informs, entertains, and, when we are at our best, inspires. The U.S. is dangerously lacking in critical minerals such as cobalt, lithium, and rare earths needed to maintain our national security. The new title earned $850 million in its first two weeks and sold more than 12 million units via Sony's PlayStation 5,Microsoft's Xbox Series X|S console, and personal computers. High institutional ownership can be a signal of strong market trust in this company. Click here to watch the full series. What equity stake do Discovery and AT&T stockholders hold in WBD following the Transactions? Delayed quotes by FIS. Identify stocks that meet your criteria using seven unique stock screeners. In all cases, investors should consult with their financial and tax advisors regarding the specific implications of selling shares of their AT&T common stock or the right to receive shares of WBD common stock on or before the closing date of the WarnerMedia-Discovery transaction. 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. 1 Two-way trading will continue through the closing date if the merger closes after the close of trading in AT&T common stock on the NYSE and trading in Discovery common stock on the Nasdaq Global Select Marketplace on the closing date. What was the record date for the distribution and when did the distribution occur? Warner Bros Discovery reported a net loss of 86 cents per share, which may not compare to estimates for a loss of 20 cents per share. The news is promising. Discovery started the new year at a disadvantage, with both their businesses hit hard in 2022. contact@marketbeat.com However, easing inflation could see the market recover in the near future, with the company's cloud business continuing to boost earnings in the meantime. 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. Discovery does not currently pay a dividend. Discovery's major shareholders? Discovery Files Lawsuit Against Paramount Over South Park Streaming Rights, Warner Bros. Discovery insiders have not sold or bought any company stock. The Motley Fool has positions in and recommends Amazon.com, Microsoft, and Warner Bros. These returns cover a period from January 1, 1988 through January 2, 2023. Warner Bros. Discoverys ticker symbol is WBD. Discovery's stock was trading at $9.48 at the start of the year. 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. At Warner Bros. Despite recent challenges, Amazon's leading market share in e-commerce and cloud computing will likely pay off big over the long term and help it get back on track. 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. Already a member? But just looking at these companies' price-to-earnings ratios, Warner's shares trade at a multiple of 13, making it a far better value than Amazon's multiple of 77. The estimated market cap for View analysts price targets for WBD or view top-rated stocks among Wall Street analysts. 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. WebThe all-time high Warner Bros Discovery stock closing price was 77.27 on March 19, 2021. 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. On average, they anticipate the company's stock price to reach $21.98 in the next twelve months. Zacks Rank Education -- Learn more about the Zacks Rank Discussions of additional risks and uncertainties are contained in AT&Ts and Discoverys filings with the Securities and Exchange Commission. The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank. Warner Bros. Moreover, Warner Bros. 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