Discovery Communications, Inc. (DISCA) Expected to Post Quarterly Sales of $1.65 Billion
Equities analysts expect that Discovery Communications, Inc. (NASDAQ:DISCA) will post sales of $1.65 billion for the current quarter, according to Zacks. Seven analysts have issued estimates for Discovery Communications’ earnings, with the highest sales estimate coming in at $1.69 billion and the lowest estimate coming in at $1.62 billion. Discovery Communications posted sales of $1.56 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 5.8%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, November 7th.
On average, analysts expect that Discovery Communications will report full year sales of $1.65 billion for the current year, with estimates ranging from $6.71 billion to $6.89 billion. For the next year, analysts anticipate that the business will post sales of $7.28 billion per share, with estimates ranging from $7.13 billion to $7.42 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Discovery Communications.
Discovery Communications (NASDAQ:DISCA) last issued its earnings results on Monday, July 31st. The company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by $0.04. Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the firm earned $0.71 earnings per share. Discovery Communications’s revenue for the quarter was up 2.2% on a year-over-year basis.
A number of analysts have recently issued reports on DISCA shares. Jefferies Group LLC restated a “hold” rating on shares of Discovery Communications in a research report on Friday, May 12th. ValuEngine cut Discovery Communications from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub upgraded Discovery Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Credit Suisse Group reiterated an “underperform” rating and issued a $24.00 price target on shares of Discovery Communications in a research report on Saturday, July 22nd. Finally, Piper Jaffray Companies started coverage on Discovery Communications in a research report on Friday, August 11th. They issued a “neutral” rating and a $27.00 price target on the stock. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. Discovery Communications presently has a consensus rating of “Hold” and a consensus price target of $27.27.
Shares of Discovery Communications (DISCA) traded up 0.62% during midday trading on Friday, hitting $22.66. 2,418,582 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $24.66 and its 200 day moving average price is $26.75. Discovery Communications has a one year low of $22.12 and a one year high of $30.25. The firm has a market cap of $12.92 billion, a PE ratio of 12.02 and a beta of 1.59.
In other news, insider Bruce Campbell sold 9,283 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $26.43, for a total transaction of $245,349.69. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director S Decker Anstrom purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were purchased at an average cost of $23.05 per share, for a total transaction of $230,500.00. The disclosure for this purchase can be found here. In the last three months, insiders acquired 55,000 shares of company stock worth $1,243,300. Insiders own 6.81% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC raised its position in 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 valued at $480,599,000 after buying an additional 917,632 shares during the last quarter. Clearbridge Investments LLC raised 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 valued at $519,072,000 after buying an additional 399,171 shares during the last quarter. Vanguard Group Inc. raised 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 valued at $430,362,000 after buying an additional 858,015 shares during the last quarter. Bank of New York Mellon Corp raised 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 valued at $319,034,000 after buying an additional 1,848,329 shares during the last quarter. Finally, BlackRock Inc. raised 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 valued at $246,259,000 after buying an additional 187,781 shares during the last quarter. 44.22% of the stock is currently owned by institutional investors and hedge funds.
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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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