Discovery Communications, Inc. (DISCA) Upgraded to “Buy” by Pivotal Research
Discovery Communications, Inc. (NASDAQ:DISCA) was upgraded by stock analysts at Pivotal Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $28.00 price target on the stock. Pivotal Research’s price objective points to a potential upside of 15.46% from the stock’s current price.
DISCA has been the topic of a number of other research reports. BidaskClub upgraded shares of Discovery Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Cowen and Company restated a “hold” rating and set a $29.00 target price on shares of Discovery Communications in a research report on Tuesday, July 11th. Moffett Nathanson restated a “sell” rating on shares of Discovery Communications in a research report on Friday, June 9th. TheStreet upgraded shares of Discovery Communications from a “c+” rating to a “b-” rating in a research report on Thursday, April 20th. Finally, Citigroup Inc. upgraded shares of Discovery Communications from a “sell” rating to a “neutral” rating in a research report on Thursday, April 20th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.33.
Discovery Communications (NASDAQ:DISCA) opened at 24.25 on Tuesday. Discovery Communications has a 52 week low of $23.77 and a 52 week high of $30.25. The firm’s 50-day moving average is $26.10 and its 200-day moving average is $27.36. The company has a market cap of $13.82 billion, a PE ratio of 12.86 and a beta of 1.59.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings results on Monday, July 31st. The company reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.04. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the company posted $0.71 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts expect that Discovery Communications will post $2.24 EPS for the current fiscal year.
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In related news, Director S Decker Anstrom acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was acquired at an average price of $23.05 per share, with a total value of $230,500.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Gunnar Wiedenfels acquired 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was bought at an average cost of $23.01 per share, with a total value of $460,200.00. Following the purchase, the chief financial officer now owns 20,000 shares in the company, valued at $460,200. The disclosure for this purchase can be found here. 5.78% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of DISCA. Nordea Investment Management AB increased its position in Discovery Communications by 10.1% in the second quarter. Nordea Investment Management AB now owns 4,141 shares of the company’s stock valued at $104,000 after buying an additional 381 shares during the last quarter. Virtus Investment Advisers Inc. acquired a new position in Discovery Communications during the third quarter valued at about $105,000. Mn Services Vermogensbeheer B.V. increased 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 during the last quarter. Toronto Dominion Bank increased its position in Discovery Communications by 433.8% in the third quarter. Toronto Dominion Bank now owns 4,404 shares of the company’s stock valued at $119,000 after buying an additional 3,579 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC acquired a new position in Discovery Communications during the fourth quarter valued at about $128,000. 44.31% of the stock is owned by institutional investors and hedge funds.
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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