Discovery Communications, Inc. (NASDAQ:DISCA) was upgraded by analysts at Credit Suisse Group from an “underperform” rating to a “neutral” rating in a research note issued on Thursday.
A number of other analysts have also recently weighed in on DISCA. Barrington Research reissued a “market perform” rating on shares of Discovery Communications in a research note on Wednesday, August 2nd. Royal Bank Of Canada lowered their target price on shares of Discovery Communications from $32.00 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday, August 17th. Cowen and Company reissued a “hold” rating and issued a $25.00 target price on shares of Discovery Communications in a research note on Friday, September 8th. Piper Jaffray Companies began coverage on shares of Discovery Communications in a research note on Friday, August 11th. They issued a “neutral” rating and a $27.00 target price on the stock. Finally, Sanford C. Bernstein reissued an “underperform” rating on shares of Discovery Communications in a research note on Tuesday. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. 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 1.4146% during trading on Thursday, reaching $21.4999. The company’s stock had a trading volume of 4,616,089 shares. The company’s 50-day moving average price is $23.18 and its 200 day moving average price is $26.17. The stock has a market capitalization of $12.25 billion, a price-to-earnings ratio of 11.4058 and a beta of 1.59. 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 earnings results on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.04). The business 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%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.71 EPS. Analysts anticipate that Discovery Communications will post $2.24 EPS for the current year.
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In related news, CFO Gunnar Wiedenfels bought 15,000 shares of Discovery Communications stock in a transaction dated Tuesday, August 15th. The shares were bought at an average cost of $21.70 per share, for a total transaction of $325,500.00. Following the completion of the transaction, the chief financial officer now owns 35,000 shares of the company’s stock, valued at $759,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director S Decker Anstrom bought 10,000 shares of Discovery Communications stock in a transaction dated Wednesday, August 2nd. The shares were bought at an average price of $23.05 per share, for a total transaction of $230,500.00. The disclosure for this purchase can be found here. Insiders have bought 55,000 shares of company stock worth $1,243,300 over the last quarter. 6.81% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its holdings in Discovery Communications by 437.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock valued at $102,000 after buying an additional 3,230 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Discovery Communications by 24.7% in the first quarter. Daiwa Securities Group Inc. now owns 4,540 shares of the company’s stock valued at $132,000 after buying an additional 900 shares during the period. Ballentine Partners LLC acquired a new position in Discovery Communications in the second quarter valued at approximately $133,000. Acadian Asset Management LLC acquired a new position in Discovery Communications in the first quarter valued at approximately $134,000. Finally, Ameritas Investment Partners Inc. acquired a new position in Discovery Communications in the first quarter valued at approximately $182,000. Institutional investors own 45.85% of the company’s stock.
About Discovery Communications
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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