$1.66 Billion in Sales Expected for Discovery Communications, Inc. (NASDAQ:DISCA) This Quarter
Wall Street brokerages forecast that Discovery Communications, Inc. (NASDAQ:DISCA) will post $1.66 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Discovery Communications’ earnings, with the highest sales estimate coming in at $1.69 billion and the lowest estimate coming in at $1.63 billion. Discovery Communications reported sales of $1.56 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 6.4%. The business is expected to announce its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that Discovery Communications will report full-year sales of $1.66 billion for the current financial year, with estimates ranging from $6.73 billion to $6.89 billion. For the next financial year, analysts anticipate that the business will report sales of $7.30 billion per share, with estimates ranging from $7.03 billion to $7.56 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Discovery Communications.
Discovery Communications (NASDAQ:DISCA) last announced its earnings results on Monday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by $0.04. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the business earned $0.71 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis.
A number of research analysts recently weighed in on DISCA shares. Jefferies Group LLC reaffirmed a “hold” rating on shares of Discovery Communications in a report on Friday, May 12th. Pivotal Research reaffirmed a “hold” rating and set a $28.00 price objective (up previously from $27.00) on shares of Discovery Communications in a report on Sunday, April 23rd. Zacks Investment Research lowered Discovery Communications from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. BidaskClub raised Discovery Communications from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, ValuEngine downgraded Discovery Communications from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $28.33.
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Discovery Communications (NASDAQ DISCA) opened at 24.25 on Tuesday. The stock has a market cap of $13.82 billion, a price-to-earnings ratio of 12.86 and a beta of 1.59. Discovery Communications has a 12 month low of $23.77 and a 12 month high of $30.25. The stock’s 50 day moving average price is $26.10 and its 200-day moving average price is $27.36.
In related news, Director Paul A. Gould sold 8,832 shares of the stock in a transaction dated 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 in the company, valued at $4,901,802.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bruce Campbell sold 9,283 shares of the stock in a transaction dated 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 corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in DISCA. 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 worth $106,000 after buying an additional 215 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of 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 in the last quarter. Ballentine Partners LLC bought a new stake in shares of Discovery Communications during the second quarter worth about $133,000. Acadian Asset Management LLC bought a new stake in shares of Discovery Communications during the first quarter worth about $134,000. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Discovery Communications during the first quarter worth about $182,000. Hedge funds and other institutional investors own 44.31% of the company’s stock.
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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