Discovery Communications, Inc. (DISCA) Rating Reiterated by Cowen and Company
Discovery Communications, Inc. (NASDAQ:DISCA)‘s stock had its “hold” rating reiterated by equities research analysts at Cowen and Company in a report released on Friday. They presently have a $25.00 price target on the stock. Cowen and Company’s price objective suggests a potential upside of 17.65% from the stock’s current price.
DISCA has been the subject of a number of other reports. Barrington Research reiterated a “market perform” rating on shares of Discovery Communications in a research report on Wednesday, August 2nd. Royal Bank Of Canada dropped their price target on shares of Discovery Communications from $32.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, August 17th. Piper Jaffray Companies assumed coverage on shares of Discovery Communications in a research report on Friday, August 11th. They set a “neutral” rating and a $27.00 price target for the company. ValuEngine cut shares of Discovery Communications from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, FBR & Co dropped their price target on shares of Discovery Communications from $30.00 to $28.00 and set a “mkt perform” rating for the company in a research report on Tuesday, August 1st. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $27.27.
Shares of Discovery Communications (DISCA) traded down 0.42% during trading on Friday, reaching $21.25. 4,058,138 shares of the company traded hands. The firm has a 50 day moving average of $23.50 and a 200 day moving average of $26.34. The stock has a market capitalization of $12.11 billion, a PE ratio of 11.27 and a beta of 1.59. Discovery Communications has a 52 week low of $20.72 and a 52 week high of $30.25.
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. On average, equities analysts predict that Discovery Communications will post $2.24 EPS for the current year.
In other news, CFO Gunnar Wiedenfels purchased 20,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was bought at an average price of $23.01 per share, for a total transaction of $460,200.00. Following the acquisition, the chief financial officer now directly owns 20,000 shares of the company’s stock, valued at approximately $460,200. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director S Decker Anstrom purchased 10,000 shares of the stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average price of $23.05 per share, with a total value of $230,500.00. The disclosure for this purchase can be found here. Insiders purchased 55,000 shares of company stock valued at $1,243,300 in the last 90 days. Company insiders own 6.81% of the company’s stock.
Several large investors have recently modified their holdings of the company. Achmea Investment Management B.V. purchased a new stake in shares of Discovery Communications during the 2nd quarter worth approximately $1,745,000. Sentry Investment Management LLC lifted its position in shares of Discovery Communications by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 11,406 shares of the company’s stock worth $295,000 after buying an additional 123 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Discovery Communications by 26.5% during the 2nd quarter. Toronto Dominion Bank now owns 52,078 shares of the company’s stock worth $1,345,000 after buying an additional 10,898 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Discovery Communications during the 2nd quarter worth approximately $339,000. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Discovery Communications by 0.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 697,493 shares of the company’s stock worth $18,016,000 after buying an additional 2,355 shares during the last quarter. Institutional investors and hedge funds own 45.85% 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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