Discovery Communications, Inc. (DISCA) PT Lowered to $29.00
Discovery Communications, Inc. (NASDAQ:DISCA) had its price objective decreased by stock analysts at Royal Bank Of Canada from $32.00 to $29.00 in a note issued to investors on Thursday. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 28.21% from the company’s previous close.
Other analysts also recently issued reports about the company. Jefferies Group LLC reiterated a “hold” rating on shares of Discovery Communications in a report on Friday, May 12th. Pivotal Research reiterated a “hold” rating and issued a $28.00 price target (up from $27.00) on shares of Discovery Communications in a research note on Sunday, April 23rd. Citigroup Inc. upgraded Discovery Communications from a “sell” rating to a “neutral” rating in a research note on Thursday, April 20th. ValuEngine downgraded Discovery Communications from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub raised shares of Discovery Communications from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $27.27.
Shares of Discovery Communications (NASDAQ:DISCA) opened at 22.60 on Thursday. The firm has a 50-day moving average price of $25.33 and a 200-day moving average price of $27.02. The stock has a market capitalization of $12.88 billion, a PE ratio of 11.99 and a beta of 1.59. Discovery Communications has a 1-year low of $22.51 and a 1-year high of $30.25.
Discovery Communications (NASDAQ:DISCA) last posted its quarterly earnings data on Monday, July 31st. The company reported $0.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.04. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 earnings per share. On average, equities research analysts forecast that Discovery Communications will post $2.23 earnings per share for the current year.
In other Discovery Communications news, CFO Gunnar Wiedenfels bought 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were acquired at an average cost of $21.70 per share, for a total transaction of $325,500.00. Following the transaction, the chief financial officer now directly owns 35,000 shares in the company, valued at $759,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bruce Campbell sold 9,283 shares of Discovery Communications stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $26.43, for a total transaction of $245,349.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 45,000 shares of company stock worth $1,016,200. 5.78% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of DISCA. Hotchkis & Wiley Capital Management LLC increased its position in shares of Discovery Communications by 5.2% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 18,606,223 shares of the company’s stock worth $480,599,000 after buying an additional 917,632 shares during the period. Clearbridge Investments LLC increased its position in Discovery Communications by 2.3% in the first quarter. Clearbridge Investments LLC now owns 17,843,671 shares of the company’s stock worth $519,072,000 after buying an additional 399,171 shares during the last quarter. Vanguard Group Inc. increased its position in Discovery Communications by 5.4% in the second quarter. Vanguard Group Inc. now owns 16,661,316 shares of the company’s stock worth $430,362,000 after buying an additional 858,015 shares during the last quarter. Bank of New York Mellon Corp increased its position in Discovery Communications by 20.3% in the first quarter. Bank of New York Mellon Corp now owns 10,967,133 shares of the company’s stock worth $319,034,000 after buying an additional 1,848,329 shares during the last quarter. Finally, BlackRock Inc. increased its position in Discovery Communications by 2.0% in the second quarter. BlackRock Inc. now owns 9,533,783 shares of the company’s stock worth $246,259,000 after buying an additional 187,781 shares during the last quarter. Institutional investors and hedge funds own 44.22% 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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