Discovery Communications Inc. (DISCA) Given “Hold” Rating at Needham & Company LLC
Discovery Communications Inc. (NASDAQ:DISCA)‘s stock had its “hold” rating reissued by Needham & Company LLC in a research note issued on Thursday.
Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Discovery Communications in a research note on Saturday, July 9th. Zacks Investment Research upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Wednesday, July 27th. Jefferies Group reiterated a “hold” rating on shares of Discovery Communications in a research note on Thursday, August 11th. MKM Partners cut their target price on shares of Discovery Communications from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, July 18th. Finally, Macquarie upgraded shares of Discovery Communications from an “underperform” rating to a “neutral” rating and cut their target price for the company from $28.76 to $27.00 in a research note on Wednesday, August 3rd. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $30.15.
Discovery Communications (NASDAQ:DISCA) traded down 1.87% during midday trading on Thursday, reaching $25.68. The company’s stock had a trading volume of 2,746,656 shares. Discovery Communications has a 52 week low of $23.66 and a 52 week high of $31.80. The firm has a market cap of $10.74 billion, a P/E ratio of 13.96 and a beta of 1.59. The firm has a 50 day moving average price of $25.84 and a 200-day moving average price of $26.57.
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Discovery Communications (NASDAQ:DISCA) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.02. Discovery Communications had a net margin of 18.06% and a return on equity of 23.45%. The company earned $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the business posted $0.49 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. On average, analysts forecast that Discovery Communications will post $1.97 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC raised its stake in shares of 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. Alliancebernstein L.P. raised its position in shares of Discovery Communications by 585.7% in the second quarter. Alliancebernstein L.P. now owns 1,859,875 shares of the company’s stock worth $46,925,000 after buying an additional 1,588,653 shares during the period. FMR LLC raised its position in shares of Discovery Communications by 86.3% in the second quarter. FMR LLC now owns 2,369,729 shares of the company’s stock worth $59,788,000 after buying an additional 1,097,874 shares during the period. State Street Corp raised its position 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 worth $167,122,000 after buying an additional 606,238 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Discovery Communications by 91.5% in the first quarter. Wellington Management Group LLP now owns 1,062,291 shares of the company’s stock worth $30,413,000 after buying an additional 507,570 shares during the period. Hedge funds and other institutional investors own 40.59% 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 and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments are U.S.
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