Brokerages Expect Discovery Communications Inc. (DISCA) Will Post Quarterly Sales of $1.75 Billion
Analysts expect Discovery Communications Inc. (NASDAQ:DISCA) to report sales of $1.75 billion for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Discovery Communications’ earnings, with the highest sales estimate coming in at $1.78 billion and the lowest estimate coming in at $1.69 billion. Discovery Communications posted sales of $1.71 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.3%. The company is expected to report its next earnings report before the market opens on Tuesday, August 8th.
On average, analysts expect that Discovery Communications will report full year sales of $1.75 billion for the current fiscal year, with estimates ranging from $6.76 billion to $6.87 billion. For the next year, analysts expect that the firm will report sales of $7.33 billion per share, with estimates ranging from $7.03 billion to $7.6 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Discovery Communications.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings data on Tuesday, May 9th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by $0.08. Discovery Communications had a net margin of 17.14% and a return on equity of 22.76%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the firm posted $0.46 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year.
Several equities analysts recently weighed in on the company. Loop Capital downgraded Discovery Communications from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a research report on Wednesday, February 22nd. They noted that the move was a valuation call. Jefferies Group LLC reissued a “hold” rating and set a $28.00 price target on shares of Discovery Communications in a report on Wednesday, February 22nd. FBR & Co reaffirmed a “hold” rating and issued a $30.00 target price on shares of Discovery Communications in a report on Friday, April 7th. Pivotal Research reaffirmed a “hold” rating and issued a $28.00 target price (up from $27.00) on shares of Discovery Communications in a report on Sunday, April 23rd. Finally, TheStreet raised Discovery Communications from a “c+” rating to a “b-” rating in a report on Thursday, April 20th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.29.
In other news, Director Paul A. Gould sold 8,832 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $25.98, for a total transaction of $229,455.36. Following the transaction, the director now directly owns 188,676 shares of the company’s stock, valued at $4,901,802.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.78% of the company’s stock.
Institutional investors have recently modified their holdings of the company. BTG Pactual Global Asset Management Ltd purchased a new position in Discovery Communications during the third quarter valued at about $1,998,000. Xact Kapitalforvaltning AB purchased a new position in Discovery Communications during the third quarter valued at about $1,576,000. 1832 Asset Management L.P. purchased a new position in Discovery Communications during the third quarter valued at about $3,890,000. Virtus Investment Advisers Inc. purchased a new position in Discovery Communications during the third quarter valued at about $105,000. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Discovery Communications during the third quarter valued at about $5,926,000. 41.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of Discovery Communications (NASDAQ:DISCA) opened at 25.87 on Friday. The company has a market capitalization of $11.46 billion, a price-to-earnings ratio of 13.53 and a beta of 1.60. The company’s 50 day moving average price is $27.44 and its 200-day moving average price is $27.85. Discovery Communications has a 1-year low of $23.66 and a 1-year high of $30.25.
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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