Discovery Communications, Inc. (DISCA) Coverage Initiated by Analysts at Wells Fargo & Company
Stock analysts at Wells Fargo & Company began coverage on shares of Discovery Communications, Inc. (NASDAQ:DISCA) in a research note issued on Thursday, The Fly reports. The firm set a “market perform” rating on the stock.
Several other research analysts also recently weighed in on DISCA. Cowen and Company restated a “hold” rating and issued a $29.00 price target on shares of Discovery Communications in a research note on Tuesday, July 11th. Royal Bank Of Canada set a $32.00 target price on Discovery Communications and gave the company a “buy” rating in a research report on Monday, June 12th. ValuEngine downgraded Discovery Communications from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Deutsche Bank AG reiterated a “hold” rating and set a $30.00 target price (down from $32.00) on shares of Discovery Communications in a research report on Friday, July 14th. Finally, Moffett Nathanson reiterated a “sell” rating on shares of Discovery Communications in a research report on Friday, June 9th. Six investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $28.63.
Shares of Discovery Communications (DISCA) opened at 27.18 on Thursday. Discovery Communications has a one year low of $23.95 and a one year high of $30.25. The stock has a 50 day moving average of $26.19 and a 200 day moving average of $27.44. The stock has a market cap of $12.04 billion, a P/E ratio of 14.22 and a beta of 1.60.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings results on Tuesday, May 9th. The company reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.08. Discovery Communications had a net margin of 17.50% and a return on equity of 23.67%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the company earned $0.46 EPS. Discovery Communications’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts forecast that Discovery Communications will post $2.26 EPS for the current year.
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In other Discovery Communications news, Director Paul A. Gould sold 8,832 shares of the company’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 directly owns 188,676 shares in the company, valued at $4,901,802.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruce Campbell sold 9,283 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $26.43, for a total value of $245,349.69. The disclosure for this sale can be found here. 5.78% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mn Services Vermogensbeheer B.V. boosted its position in Discovery Communications by 5.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,915 shares of the company’s stock valued at $106,000 after buying an additional 215 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Discovery Communications by 24.7% in the first quarter. Daiwa Securities Group Inc. now owns 4,540 shares of the company’s stock worth $132,000 after buying an additional 900 shares during the period. Acadian Asset Management LLC purchased a new stake in Discovery Communications during the first quarter worth about $134,000. Ameritas Investment Partners Inc. purchased a new stake in Discovery Communications during the first quarter worth about $182,000. Finally, Feltz Wealth PLAN Inc. purchased a new stake in Discovery Communications during the first quarter worth about $189,000. 44.21% of the stock is currently owned by institutional investors.
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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