Discovery Communications, Inc. (NASDAQ:DISCA)‘s stock had its “underperform” rating reiterated by stock analysts at Sanford C. Bernstein in a research report issued to clients and investors on Tuesday.
A number of other brokerages have also recently issued reports on DISCA. Cowen and Company restated a “hold” rating and set a $25.00 target price on shares of Discovery Communications in a report on Friday. ValuEngine cut Discovery Communications from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub cut Discovery Communications from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Royal Bank Of Canada reduced their target price on Discovery Communications from $32.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, August 17th. Finally, Piper Jaffray Companies started coverage on Discovery Communications in a report on Friday, August 11th. They set a “neutral” rating and a $27.00 target price on the stock. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.27.
Shares of Discovery Communications (NASDAQ DISCA) traded up 0.63% during midday trading on Tuesday, reaching $20.93. 5,731,700 shares of the company’s stock were exchanged. The company has a market capitalization of $11.93 billion, a PE ratio of 11.10 and a beta of 1.59. The firm has a 50-day moving average of $23.41 and a 200-day moving average of $26.27. Discovery Communications has a 1-year low of $20.53 and a 1-year high of $30.25.
Discovery Communications (NASDAQ:DISCA) last posted its quarterly earnings results on Monday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.04). The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.76 billion. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. Discovery Communications’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 EPS. Equities analysts expect that Discovery Communications will post $2.24 earnings per share for the current fiscal year.
In related news, insider Bruce Campbell sold 9,283 shares of Discovery Communications stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $26.43, for a total value of $245,349.69. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul J. Guagliardo bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was purchased at an average cost of $22.71 per share, for a total transaction of $227,100.00. Following the transaction, the insider now owns 10,000 shares in the company, valued at approximately $227,100. The disclosure for this purchase can be found here. In the last three months, insiders purchased 55,000 shares of company stock worth $1,243,300. 6.81% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its position in shares of Discovery Communications by 437.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock worth $102,000 after purchasing an additional 3,230 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Discovery Communications by 24.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,540 shares of the company’s stock worth $132,000 after purchasing an additional 900 shares during the last quarter. Ballentine Partners LLC acquired a new position in shares of Discovery Communications during the 2nd quarter worth approximately $133,000. Acadian Asset Management LLC acquired a new position in shares of Discovery Communications during the 1st quarter worth approximately $134,000. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of Discovery Communications during the 1st quarter worth approximately $182,000. 45.85% of the stock is currently owned by hedge funds and other institutional investors.
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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