Discovery Communications, Inc. (NASDAQ:DISCA)‘s stock had its “underperform” rating reissued by equities research analysts at Credit Suisse Group in a report released on Saturday, July 22nd. They presently have a $24.00 target price on the stock. Credit Suisse Group’s target price would suggest a potential upside of 6.71% from the company’s previous close.
Several other brokerages also recently commented on DISCA. FBR & Co reiterated a “hold” rating and set a $30.00 target price on shares of Discovery Communications in a research note on Friday, April 7th. TheStreet upgraded Discovery Communications from a “c+” rating to a “b-” rating in a research note on Thursday, April 20th. Pivotal Research reiterated a “hold” rating and set a $28.00 target price (up from $27.00) on shares of Discovery Communications in a research note on Sunday, April 23rd. Citigroup Inc. raised Discovery Communications from a “sell” rating to a “neutral” rating in a report on Thursday, April 20th. Finally, Zacks Investment Research cut Discovery Communications from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $27.27.
Shares of Discovery Communications (NASDAQ DISCA) traded up 1.12% during midday trading on Friday, reaching $22.49. 4,179,155 shares of the company were exchanged. The firm’s 50 day moving average is $25.12 and its 200-day moving average is $26.95. The company has a market capitalization of $12.82 billion, a PE ratio of 11.93 and a beta of 1.59. Discovery Communications has a 52-week low of $22.12 and a 52-week high of $30.25.
Discovery Communications (NASDAQ:DISCA) last issued its earnings results on Monday, July 31st. The company reported $0.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.04. Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. On average, equities analysts forecast that Discovery Communications will post $2.23 earnings per share for the current fiscal year.
In related news, Director S Decker Anstrom purchased 10,000 shares of Discovery Communications stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average price of $23.05 per share, for a total transaction of $230,500.00. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bruce Campbell sold 9,283 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $26.43, for a total value of $245,349.69. The disclosure for this sale can be found here. Insiders have purchased a total of 45,000 shares of company stock worth $1,016,200 in the last 90 days. 5.78% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank raised its stake in Discovery Communications by 26.5% in the second quarter. Toronto Dominion Bank now owns 52,078 shares of the company’s stock worth $1,345,000 after buying an additional 10,898 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Discovery Communications during the second quarter worth approximately $339,000. Public Employees Retirement System of Ohio raised its stake in Discovery Communications by 0.3% in the second quarter. Public Employees Retirement System of Ohio now owns 697,493 shares of the company’s stock worth $18,016,000 after buying an additional 2,355 shares during the period. Koch Industries Inc. bought a new stake in Discovery Communications during the second quarter worth approximately $256,000. Finally, Verition Fund Management LLC bought a new stake in Discovery Communications during the second quarter worth approximately $609,000. Hedge funds and other institutional investors own 44.22% of the company’s stock.
Discovery Communications Company Profile
Discovery Communications, Inc (Discovery) is a global media company. The Company provides content across multiple distribution platforms, including pay-television (pay-TV), free-to-air (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments include U.S.
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