Discovery Communications, Inc. (DISCA) Rating Reiterated by Needham & Company LLC
Discovery Communications, Inc. (NASDAQ:DISCA)‘s stock had its “hold” rating restated by research analysts at Needham & Company LLC in a report released on Thursday.
A number of other equities analysts also recently weighed in on the company. ValuEngine raised Discovery Communications from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research downgraded Discovery Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. UBS AG raised Discovery Communications from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $25.00 to $23.00 in a research report on Tuesday, September 26th. Credit Suisse Group raised Discovery Communications from an “underperform” rating to a “neutral” rating and reduced their price target for the stock from $23.00 to $22.00 in a research report on Thursday, September 14th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Discovery Communications in a research report on Tuesday, September 12th. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $27.07.
Discovery Communications (DISCA) traded down 1.35% during mid-day trading on Thursday, hitting $19.73. 5,690,862 shares of the company traded hands. The company has a market capitalization of $11.25 billion, a price-to-earnings ratio of 10.47 and a beta of 1.56. Discovery Communications has a one year low of $19.60 and a one year high of $30.25. The company’s 50-day moving average price is $21.56 and its 200 day moving average price is $25.18.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings results on Monday, July 31st. The company reported $0.68 earnings per share 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 analyst estimates of $1.76 billion. During the same period last year, the company earned $0.71 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. On average, analysts anticipate that Discovery Communications will post $2.24 earnings per share for the current fiscal year.
In other news, Director S Decker Anstrom acquired 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, for a total transaction of $230,500.00. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Gunnar Wiedenfels acquired 20,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were purchased at an average price of $23.01 per share, for a total transaction of $460,200.00. Following the transaction, the chief financial officer now directly owns 20,000 shares in the company, valued at $460,200. The disclosure for this purchase can be found here. Insiders have acquired a total of 55,000 shares of company stock valued at $1,243,300 in the last ninety days. Insiders own 6.81% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC increased its position in Discovery Communications by 5.2% during the 2nd 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% during the 1st 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 period. Vanguard Group Inc. increased its position in Discovery Communications by 5.4% during the 2nd 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 period. BlackRock Inc. increased its position in Discovery Communications by 2.0% during the 2nd 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 period. Finally, State Street Corp increased its position in Discovery Communications by 5.4% during the 2nd quarter. State Street Corp now owns 7,346,135 shares of the company’s stock worth $189,736,000 after buying an additional 376,975 shares during the period. Hedge funds and other institutional investors own 45.84% of the company’s stock.
Discovery Communications Company Profile
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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