Q3 2016 EPS Estimates for Discovery Communications Inc. Reduced by Jefferies Group (DISCA)
Discovery Communications Inc. (NASDAQ:DISCA) – Analysts at Jefferies Group dropped their Q3 2016 earnings per share (EPS) estimates for Discovery Communications in a research note issued to investors on Monday. Jefferies Group analyst J. Janedis now expects that the brokerage will earn $0.43 per share for the quarter, down from their prior forecast of $0.45. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for Discovery Communications’ FY2016 earnings at $2.14 EPS, Q3 2017 earnings at $0.55 EPS and FY2018 earnings at $2.79 EPS.
DISCA has been the subject of several other reports. Pivotal Research reissued a “buy” rating on shares of Discovery Communications in a research note on Monday, August 1st. JPMorgan Chase & Co. restated a “hold” rating on shares of Discovery Communications in a research report on Saturday, July 9th. Zacks Investment Research downgraded shares of Discovery Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Argus restated a “buy” rating and issued a $40.00 price target on shares of Discovery Communications in a research report on Monday, August 15th. Finally, MKM Partners reduced their price target on shares of Discovery Communications from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, July 18th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.15.
Discovery Communications (NASDAQ:DISCA) traded up 0.34% during trading on Wednesday, hitting $26.49. 760,536 shares of the company traded hands. The firm has a market cap of $11.08 billion, a P/E ratio of 14.40 and a beta of 1.59. The firm has a 50 day moving average of $25.86 and a 200 day moving average of $26.58. Discovery Communications has a one year low of $23.66 and a one year high of $31.80.
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Discovery Communications (NASDAQ:DISCA) last posted its earnings results on Tuesday, August 2nd. The company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.02. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. Discovery Communications had a net margin of 18.06% and a return on equity of 23.45%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 EPS.
A number of hedge funds have recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC increased its stake in Discovery Communications by 50.0% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 15,522,485 shares of the company’s stock worth $391,632,000 after buying an additional 5,175,467 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Discovery Communications by 3.6% in the second quarter. Vanguard Group Inc. now owns 14,263,250 shares of the company’s stock valued at $359,862,000 after buying an additional 499,989 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Discovery Communications by 4.8% in the second quarter. Bank of New York Mellon Corp now owns 9,458,803 shares of the company’s stock valued at $238,645,000 after buying an additional 437,438 shares during the period. State Street Corp increased its stake in shares of Discovery Communications by 10.1% in the second quarter. State Street Corp now owns 6,623,850 shares of the company’s stock valued at $167,122,000 after buying an additional 606,238 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Discovery Communications by 0.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,878,227 shares of the company’s stock valued at $97,848,000 after buying an additional 14,630 shares during the period. 40.59% of the stock is owned by institutional investors and hedge funds.
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 and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments are U.S.
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