Discovery Communications, Inc. (DISCA) Receives “Underperform” Rating from Credit Suisse Group AG
Discovery Communications, Inc. (NASDAQ:DISCA)‘s stock had its “underperform” rating restated by analysts at Credit Suisse Group AG in a report released on Saturday. They presently have a $24.00 target price on the stock. Credit Suisse Group AG’s price target suggests a potential downside of 9.60% from the stock’s previous close.
Other equities analysts have also issued research reports about the company. TheStreet lowered Discovery Communications from a “b-” rating to a “c+” rating in a research report on Thursday, May 18th. MKM Partners reissued a “neutral” rating and set a $30.00 price objective (up previously from $27.00) on shares of Discovery Communications in a research report on Tuesday, May 2nd. Cowen and Company reissued a “hold” rating and set a $29.00 price objective on shares of Discovery Communications in a research report on Tuesday, July 11th. Royal Bank Of Canada set a $32.00 price objective on Discovery Communications and gave the company a “buy” rating in a research report on Monday, June 12th. Finally, BidaskClub lowered Discovery Communications from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company. Discovery Communications has an average rating of “Hold” and a consensus price target of $28.65.
Discovery Communications (NASDAQ:DISCA) traded down 0.19% on Friday, reaching $26.55. 3,502,044 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $26.19 and its 200 day moving average price is $27.43. The company has a market cap of $11.76 billion, a PE ratio of 13.89 and a beta of 1.60. Discovery Communications has a 12 month low of $23.95 and a 12 month high of $30.25.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings data on Tuesday, May 9th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.49 by $0.08. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Discovery Communications had a net margin of 17.50% and a return on equity of 23.67%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 EPS. On average, equities analysts expect that Discovery Communications will post $2.26 EPS for the current fiscal year.
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In other Discovery Communications news, insider Bruce Campbell sold 9,283 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $26.43, for a total transaction of $245,349.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul A. Gould sold 8,832 shares of the business’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $25.98, for a total value of $229,455.36. Following the sale, the director now owns 188,676 shares of the company’s stock, valued at $4,901,802.48. The disclosure for this sale can be found here. Insiders own 5.78% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Chevy Chase Trust Holdings increased its stake in Discovery Communications by 0.8% in the fourth quarter. Chevy Chase Trust Holdings now owns 121,861 shares of the company’s stock worth $3,251,000 after buying an additional 969 shares in the last quarter. American Century Companies Inc. increased its stake in Discovery Communications by 5.9% in the fourth quarter. American Century Companies Inc. now owns 401,037 shares of the company’s stock worth $10,700,000 after buying an additional 22,349 shares in the last quarter. Congress Asset Management Co. MA increased its stake in Discovery Communications by 4.4% in the fourth quarter. Congress Asset Management Co. MA now owns 56,043 shares of the company’s stock worth $1,495,000 after buying an additional 2,366 shares in the last quarter. Douglas C. Lane & Associates Inc. increased its stake in Discovery Communications by 7.0% in the fourth quarter. Douglas C. Lane & Associates Inc. now owns 27,020 shares of the company’s stock worth $721,000 after buying an additional 1,775 shares in the last quarter. Finally, River & Mercantile Asset Management purchased a new stake in Discovery Communications during the fourth quarter worth about $2,646,000. Institutional investors and hedge funds own 44.21% 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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