Discovery Communications Short Interest Up 26.6% in August (DISCA)
Discovery Communications (NASDAQ:DISCA) was the recipient of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 8,097,492 shares, a growth of 26.6% from the July 31st total of 6,394,363 shares, AnalystRatings.Net reports. Currently, 5.6% of the company’s shares are sold short. Based on an average daily trading volume, of 2,360,159 shares, the days-to-cover ratio is presently 3.4 days.
In other Discovery Communications news, CAO Kurt Wehner sold 7,302 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $43.62, for a total value of $318,513.24. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of research firms have recently commented on DISCA. Analysts at Barclays cut their price target on shares of Discovery Communications from $87.00 to $48.00 in a research note on Thursday, August 21st. They now have an “overweight” rating on the stock. Separately, analysts at Guggenheim downgraded shares of Discovery Communications from a “buy” rating to a “neutral” rating in a research note on Friday, August 1st. They now have a $92.00 price target on the stock, up previously from $89.00. Finally, analysts at Evercore Partners raised their price target on shares of Discovery Communications from $84.00 to $90.00 in a research note on Wednesday, July 30th. Ten equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $88.60.
Discovery Communications (NASDAQ:DISCA) opened at 43.72 on Monday. Discovery Communications has a 52 week low of $36.5662 and a 52 week high of $46.3771. The stock’s 50-day moving average is $42.89 and its 200-day moving average is $40.99. The company has a market cap of $29.992 billion and a P/E ratio of 26.86.
Discovery Communications (NASDAQ:DISCA) last released its earnings data on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.21. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, analysts predict that Discovery Communications will post $1.86 earnings per share for the current fiscal year.
Discovery Communications, Inc (NASDAQ:DISCA) is a global nonfiction media and entertainment company that provide programming across multiple distribution platforms worldwide.
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