Royal Bank Of Canada Reaffirms Buy Rating for Discovery Communications, Inc. (DISCA)
Discovery Communications, Inc. (NASDAQ:DISCA)‘s stock had its “buy” rating reiterated by research analysts at Royal Bank Of Canada in a report released on Friday. They presently have a $29.00 price target on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 42.93% from the stock’s current price.
DISCA has been the subject of a number of other research reports. Cowen and Company reissued a “hold” rating and issued a $29.00 target price on shares of Discovery Communications in a research note on Tuesday, July 11th. Piper Jaffray Companies began coverage on Discovery Communications in a research note on Friday, August 11th. They issued a “neutral” rating and a $27.00 target price for the company. Zacks Investment Research raised Discovery Communications from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. BidaskClub lowered Discovery Communications from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $30.00 target price (down previously from $32.00) on shares of Discovery Communications in a research note on Friday, July 14th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $26.57.
Discovery Communications (NASDAQ:DISCA) opened at 20.29 on Friday. The company has a market capitalization of $11.57 billion, a P/E ratio of 10.76 and a beta of 1.56. Discovery Communications has a 52-week low of $19.01 and a 52-week high of $30.25. The firm has a 50-day moving average price of $20.97 and a 200 day moving average price of $24.76.
Discovery Communications (NASDAQ:DISCA) last issued its quarterly earnings results on Monday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 the consensus estimate of $1.76 billion. During the same period last year, the firm earned $0.71 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts predict that Discovery Communications will post $2.22 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This piece of content was posted by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of international copyright legislation. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/10/21/royal-bank-of-canada-reaffirms-buy-rating-for-discovery-communications-inc-disca.html.
In other news, Director S Decker Anstrom bought 10,000 shares of Discovery Communications 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 filing with the SEC, which is accessible through the SEC website. Also, CFO Gunnar Wiedenfels bought 20,000 shares of Discovery Communications 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 acquisition, the chief financial officer now directly owns 20,000 shares in the company, valued at approximately $460,200. The disclosure for this purchase can be found here. Insiders have acquired a total of 55,000 shares of company stock worth $1,243,300 in the last quarter. Company insiders own 6.81% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its holdings in shares of Discovery Communications by 437.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock worth $102,000 after acquiring an additional 3,230 shares during the period. Ballentine Partners LLC purchased a new position in shares of Discovery Communications during the 2nd quarter worth approximately $133,000. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in shares of Discovery Communications by 112.1% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,000 shares of the company’s stock worth $204,000 after acquiring an additional 3,700 shares during the period. Montag A & Associates Inc. purchased a new position in shares of Discovery Communications during the 2nd quarter worth approximately $209,000. Finally, MUFG Americas Holdings Corp grew its holdings in shares of Discovery Communications by 13.9% during the 2nd quarter. MUFG Americas Holdings Corp now owns 8,997 shares of the company’s stock worth $232,000 after acquiring an additional 1,100 shares during the period. Hedge funds and other institutional investors own 45.83% 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.
Receive News & Ratings for Discovery Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discovery Communications Inc. and related companies with MarketBeat.com's FREE daily email newsletter.