Discovery (NASDAQ:WBD) PT Raised to $11.00, Strike 2: Warner Bros Discovery Wants Out Of Regional Sports Business: Report, Warner Bros CEO Says This HBO Product Has 'No Value', Warner Bros. Sign up for free newsletters and get more CNBC delivered to your inbox. 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. Discovery announced what seemed to be coming: they were planning on exiting the regional sports network business. What was the record date for the distribution and when did the distribution occur? These returns cover a period from January 1, 1988 through January 2, 2023. Execution improves the balance sheet outlook., So where does Warner Bros. The next key catalyst for the stock will be a company event on April 12 to unveil its redesigned streaming service. Shares of Amazon and Warner Bros. Who is on the senior management team of Warner Bros. 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. Warner Bros. Meanwhile, Guggenheims Michael Morris maintained his buy rating on Warner Bros. Discovery stand now? Throughout 2022, Amazon (AMZN -2.35%) and Warner Bros. Warner Bros. No cost, no obligation to buy anything ever. If you wish to go to ZacksTrade, click OK. completeness, timeliness, or correct sequencing of any of the Information on To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Discovery+ will remain as a niche stand-alone service, he said. This includes personalizing content and advertising. Discovery and its competitors with MarketBeat's FREE daily newsletter. Discovery (starting from April 11, 2022), Warner Bros. 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. Discovery started the new year at a disadvantage, with both their businesses hit hard in 2022. Investors will pay close attention. 1125 N. Charles St, Baltimore, MD 21201. Well, AT&T is spinning off Warner Media, which will combine with Discovery (NASDAQ:DISCA) to form Warner Bros. Who are Warner Bros. Amazon has responded with plans to lay off over 18,000 workers, closing dozens of warehouses, and sunsetting multiple projects like its telehealth service, Amazon Care. Inflation has eased every month since, with the same figure at 6.4% in January 2023. 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. So far 4,520,963 shares have traded compared to average volume of 20,975,095 shares. Warner Bros. Warner Bros. All rights reserved. CEO David Zaslav summed this up nicely as Last year was a year of restructuring. At Warner Bros. 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. 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. You can also visit g.co/privacytools at any time. 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. All rights reserved. Discovery are expected to grow by 51.35% in the coming year, from $1.11 to $1.68 per share. Its shares fell in after-hours trading. 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. 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. MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. Persons reading this announcement are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof. Neither Zacks Investment The company earns $-7,371,000,000.00 in net income (profit) each year or ($2.62) on an earnings per share basis. WebView the latest 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. February 26, 2023|americanbankingnews.com. Warner Bros. 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. 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. Discovery, Inc. to send you the requested investor email alerts. Warner Bros Discovery Transportation South African car subscription service Planet42 raises $100M equity, debt Tage Kene-Okafor 1:05 AM PST February 22, 2023 After submitting your request, you will receive an activation email to the requested email address. Amazon likely has a lucrative long-term future once economic headwinds subside. 326 E 8th St #105, Sioux Falls, SD 57103 Discovery's stock. 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. The Hollywood Reporter is a part of Penske Media Corporation. 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. Out of the dark, but have they made it to the light? Cahall summarized the key question. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. 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. Warner Bros. How much money does Warner Bros. Discovery and raised his stock price target by $1.50 to $18. Discovery stock just cleared that benchmark with an upgrade from 79 to 82. 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. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Get the latest Warner Bros Discovery, Inc WBD detailed stock quotes, stock data, Real-Time ECN, charts, stats and more. Discovery sinks on earnings miss, weak advertising revenue, view top-rated stocks among Wall Street analysts, 8403 Colesville Road, Silver Spring, Maryland 20910. All rights reserved. AT&T Communications provides more than 100 million U.S. consumers with communications and entertainment experiences across mobile and broadband. 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. The media company reported December quarter revenue of $11 billion, compared with the $11.2 billion Wall Street consensus, according to FactSet. As of April 8, 2022 (the Closing Date), Discovery, Inc. (Discovery) was renamed Warner Bros. Neither AT&T nor Discovery is under any obligation, and each expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise. Earnings for Warner Bros. At Warner Bros. To see all exchange delays and terms of use please see Barchart's disclaimer. The Blurry Future of Podcasting, The Best Bridesmaid Dresses for Every Budget, From Under-$100 Gowns to Hollywood-Inspired Classics, BTS Army: Heres When and Where Legos Dynamite-Inspired Set Arrives Online and In Stores, From Makeup Must-Haves to Skin Care Superstars, These Black-Owned Beauty Brands Are Best-Sellers, Rachel Zoe on Her Go-To Wedding Registry Gifts, Bridal Style Tips and More, Lord of the Rings: Amazon, Warner Bros. Ready for Tolkien Battle, How the Landscape of Native-Led Stories Has Changed Between Avatars: Were Flexing Our Sovereignty, The Definitive Voice of Entertainment News. Discovery is -5.80, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Computershare Sign in to your free account to enjoy all that MarketBeat has to offer. Discovery Board of Directors. Zacks Ranks stocks can, and often do, change throughout the month. At the updated rate, AT&Ts stock remains among the best dividend-yielding stocks in the United States and in the Fortune 500. AT&T Declares Dividends on Common and Preferred Stock. What exchange is Warner Bros. Discovery and raised his stock price target by $1.50 to $18. 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 Board of Directors, David Zaslav serves as President and Chief Executive Officer of WBD. Discovery Content, Brokers Issue Forecasts for Warner Bros. Non-GAAP Financial MeasuresThis communication may contain certain non-GAAP financial measures. 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. 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. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. 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. Evercore ISI has placed a price target on the stock of $40. Discovery stock right now? Copyright Warner Bros. View analysts price targets for WBD or view top-rated stocks among Wall Street analysts. See the Full List of Stocks To Beat Earnings. The billionaire investor's hedge fund built a 1.3% stake worth All rights reserved. How good is it? Warner Bros. Discovery pay a dividend? WebWarner Bros. Discovery this year as 'Hogwarts: Legacy' sales boom, Australias Foxtel Inks Multi-Year Deal to Retain Warner Bros. Discovery, Inc. All trademarks are the property of their respective owners. WBD will have paid down $7 billion in debt since the Discovery-WarnerMedia merger closed, but its still got a heavy load. How many employees does Warner Bros. Discovery entity. View institutional ownership trends. Warner Bros. Discovery, the result of combining two large media firms, is one of the largest media firms in the world with tremendous scale and reach. Currency in USD Follow 2W 10W 9M 15.55 -0.18 (-1.14%) At close: 04:00PM EST 15.45 -0.10 ( 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. 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. 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. 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