Discovery Communications, Inc. (DISCK) Upgraded by Zacks Investment Research to “Buy”
Discovery Communications, Inc. (NASDAQ:DISCK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage presently has a $29.00 price target on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.80% from the stock’s current price.
According to Zacks, “Discovery Communications is the world’s number one nonfiction media company reaching more than 1.5 billion cumulative subscribers in 170 countries. It empowers people to explore their world and satisfy their curiosity through 100-plus worldwide networks, led by Discovery Channel, TLC, Animal Planet, Science Channel, Planet Green, Investigation Discovery and HD Theater, as well as leading consumer and educational products and services, and a diversified portfolio of digital media services including HowStuffWorks.com. “
Several other research analysts have also commented on DISCK. BidaskClub upgraded shares of Discovery Communications from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. ValuEngine lowered shares of Discovery Communications from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, TheStreet lowered shares of Discovery Communications from a “b-” rating to a “c+” rating in a report on Wednesday, May 17th.
Discovery Communications (DISCK) traded down 1.91% during midday trading on Thursday, reaching $25.71. 2,472,407 shares of the company’s stock were exchanged. The company has a market cap of $11.39 billion, a price-to-earnings ratio of 13.45 and a beta of 1.49. The firm has a 50-day moving average price of $25.43 and a 200 day moving average price of $26.76. Discovery Communications has a 12-month low of $23.24 and a 12-month high of $29.18.
Discovery Communications (NASDAQ:DISCK) last posted its quarterly earnings results on Tuesday, May 9th. The company reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.09. Discovery Communications had a net margin of 17.50% and a return on equity of 23.67%. The firm had revenue of $1.61 billion for the quarter. On average, analysts expect that Discovery Communications will post $2.25 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Discovery Communications by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,479,476 shares of the company’s stock valued at $39,624,000 after buying an additional 26,951 shares during the last quarter. FMR LLC raised its position in shares of Discovery Communications by 48.5% in the fourth quarter. FMR LLC now owns 426,355 shares of the company’s stock valued at $11,418,000 after buying an additional 139,332 shares during the last quarter. Norges Bank acquired a new position in shares of Discovery Communications during the fourth quarter valued at about $35,163,000. Teachers Advisors LLC raised its position in shares of Discovery Communications by 4.0% in the fourth quarter. Teachers Advisors LLC now owns 467,294 shares of the company’s stock valued at $12,514,000 after buying an additional 18,077 shares during the last quarter. Finally, Kentucky Retirement Systems acquired a new position in shares of Discovery Communications during the fourth quarter valued at about $429,000. Institutional investors and hedge funds own 47.41% 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 (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments include U.S.
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