Q2 2017 Earnings Forecast for Discovery Communications Inc. (DISCA) Issued By FBR & Co
Discovery Communications Inc. (NASDAQ:DISCA) – Stock analysts at FBR & Co lowered their Q2 2017 earnings per share estimates for shares of Discovery Communications in a report issued on Monday. FBR & Co analyst B. Crockett now expects that the company will earn $0.70 per share for the quarter, down from their previous forecast of $0.72. FBR & Co currently has a “Hold” rating and a $30.00 price target on the stock. FBR & Co also issued estimates for Discovery Communications’ Q3 2017 earnings at $0.60 EPS, Q4 2017 earnings at $0.62 EPS, FY2017 earnings at $2.32 EPS, FY2018 earnings at $2.59 EPS, FY2019 earnings at $2.95 EPS and FY2020 earnings at $3.06 EPS.
Discovery Communications (NASDAQ:DISCA) last issued its earnings results on Tuesday, May 9th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.49 by $0.08. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Discovery Communications had a net margin of 17.14% and a return on equity of 22.76%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.46 earnings per share. ILLEGAL ACTIVITY WARNING: This piece of content was first posted by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of international copyright laws. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/05/24/q2-2017-earnings-forecast-for-discovery-communications-inc-disca-issued-by-fbr-co.html.
Several other research analysts have also commented on DISCA. Zacks Investment Research lowered Discovery Communications from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 25th. Credit Suisse Group AG reiterated an “underperform” rating and issued a $23.00 price target on shares of Discovery Communications in a research report on Saturday, January 28th. Deutsche Bank AG started coverage on Discovery Communications in a research report on Friday, February 10th. They issued a “hold” rating and a $32.00 price target for the company. Pivotal Research reiterated a “hold” rating and issued a $27.00 price target on shares of Discovery Communications in a research report on Wednesday, February 15th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $28.00 price target on shares of Discovery Communications in a research report on Wednesday, February 22nd. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and one has given a buy rating to the stock. Discovery Communications currently has an average rating of “Hold” and an average price target of $29.20.
Shares of Discovery Communications (NASDAQ:DISCA) opened at 25.63 on Wednesday. The stock has a market capitalization of $11.35 billion, a PE ratio of 13.40 and a beta of 1.60. Discovery Communications has a one year low of $23.66 and a one year high of $30.25. The company’s 50-day moving average price is $27.76 and its 200 day moving average price is $27.88.
Hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new stake in shares of Discovery Communications during the first quarter worth about $10,769,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in shares of Discovery Communications by 112.1% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,000 shares of the company’s stock worth $204,000 after buying an additional 3,700 shares during the last quarter. Horizon Investment Services LLC purchased a new stake in shares of Discovery Communications during the first quarter worth about $202,000. HighTower Advisors LLC raised its stake in shares of Discovery Communications by 1.9% in the first quarter. HighTower Advisors LLC now owns 158,933 shares of the company’s stock worth $4,626,000 after buying an additional 2,900 shares during the last quarter. Finally, Gareth Morgan Investments Limited Partnership raised its stake in shares of Discovery Communications by 4.9% in the first quarter. Gareth Morgan Investments Limited Partnership now owns 95,950 shares of the company’s stock worth $2,791,000 after buying an additional 4,443 shares during the last quarter. Hedge funds and other institutional investors own 41.96% of the company’s stock.
In related news, Director Paul A. Gould sold 8,832 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $25.98, for a total value of $229,455.36. Following the completion of the sale, the director now owns 188,676 shares in the company, valued at $4,901,802.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.78% of the stock is currently owned by insiders.
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.
Receive News & Ratings for Discovery Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discovery Communications Inc. and related companies with MarketBeat.com's FREE daily email newsletter.