Zacks: Brokerages Expect Discovery Communications, Inc. (DISCA) Will Post Quarterly Sales of $1.64 Billion
Analysts expect Discovery Communications, Inc. (NASDAQ:DISCA) to announce $1.64 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Discovery Communications’ earnings. The lowest sales estimate is $1.62 billion and the highest is $1.67 billion. Discovery Communications posted sales of $1.56 billion in the same quarter last year, which would indicate a positive year over year growth rate of 5.1%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Thursday, November 2nd.
On average, analysts expect that Discovery Communications will report full-year sales of $1.64 billion for the current financial year, with estimates ranging from $6.71 billion to $6.81 billion. For the next fiscal year, analysts anticipate that the business will report sales of $7.27 billion per share, with estimates ranging from $7.13 billion to $7.42 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Discovery Communications.
Discovery Communications (NASDAQ:DISCA) last released its quarterly 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 net margin of 16.88% and a return on equity of 22.74%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the business posted $0.71 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year.
Several research analysts have recently issued reports on DISCA shares. BidaskClub cut Discovery Communications from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Credit Suisse Group raised Discovery Communications from an “underperform” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $22.00 in a research report on Thursday, September 14th. ValuEngine cut Discovery Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research cut Discovery Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Finally, Wells Fargo & Co began coverage on Discovery Communications in a research report on Thursday, July 20th. They issued a “market perform” rating and a $28.00 target price for the company. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. Discovery Communications has an average rating of “Hold” and a consensus price target of $26.57.
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Shares of Discovery Communications (DISCA) opened at 20.29 on Friday. The firm has a 50-day moving average price of $20.97 and a 200-day moving average price of $24.76. Discovery Communications has a 1-year low of $19.01 and a 1-year high of $30.25. The stock has a market capitalization of $11.57 billion, a PE ratio of 10.76 and a beta of 1.56.
In other Discovery Communications news, CFO Gunnar Wiedenfels bought 20,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was acquired at an average cost of $23.01 per share, with a total value of $460,200.00. Following the purchase, the chief financial officer now owns 20,000 shares in the company, valued at approximately $460,200. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul J. Guagliardo bought 10,000 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were acquired at an average cost of $22.71 per share, with a total value of $227,100.00. Following the completion of the purchase, the insider now owns 10,000 shares in the company, valued at approximately $227,100. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 55,000 shares of company stock valued at $1,243,300. 6.81% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake 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 buying an additional 3,230 shares in the last quarter. Ballentine Partners LLC purchased a new position in shares of Discovery Communications during the 2nd quarter worth approximately $133,000. Horizon Investment Services LLC purchased a new position in shares of Discovery Communications during the 1st quarter worth approximately $202,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake 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 buying an additional 3,700 shares in the last quarter. Finally, Montag A & Associates Inc. purchased a new position in shares of Discovery Communications during the 2nd quarter worth approximately $209,000. 45.83% of the stock is owned by institutional investors and hedge funds.
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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