Discovery Communications, Inc. (DISCK) Downgraded by Zacks Investment Research to “Sell”
Discovery Communications, Inc. (NASDAQ:DISCK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.
According to Zacks, “Discovery Communications is the world’s number one nonfiction media company reaching more than 1.5 billion cumulative subscribers in 170 countries. It empowers people to explore their world and satisfy their curiosity through 100-plus worldwide networks, led by Discovery Channel, TLC, Animal Planet, Science Channel, Planet Green, Investigation Discovery and HD Theater, as well as leading consumer and educational products and services, and a diversified portfolio of digital media services including HowStuffWorks.com. “
A number of other research firms have also recently commented on DISCK. Barrington Research reiterated a “market perform” rating on shares of Discovery Communications in a report on Tuesday, August 1st. Morgan Stanley reduced their price target on Discovery Communications from $31.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday. ValuEngine cut Discovery Communications from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub cut Discovery Communications from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.50.
Discovery Communications (NASDAQ DISCK) traded down 0.28% during mid-day trading on Monday, hitting $17.93. The stock had a trading volume of 1,640,237 shares. The stock’s 50-day moving average is $19.49 and its 200 day moving average is $23.33. The company has a market capitalization of $10.22 billion, a P/E ratio of 9.51 and a beta of 1.44. Discovery Communications has a 52 week low of $17.58 and a 52 week high of $29.18.
Discovery Communications (NASDAQ:DISCK) last announced its quarterly earnings data on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.04). The company had revenue of $1.75 billion during the quarter. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. Equities analysts forecast that Discovery Communications will post $2.23 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of DISCK. New York State Teachers Retirement System lifted its position in Discovery Communications by 1.6% during the third quarter. New York State Teachers Retirement System now owns 407,920 shares of the company’s stock worth $8,264,000 after acquiring an additional 6,328 shares during the last quarter. Markel Corp lifted its position in Discovery Communications by 6.5% during the third quarter. Markel Corp now owns 1,028,000 shares of the company’s stock worth $20,827,000 after acquiring an additional 63,000 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Discovery Communications during the third quarter worth approximately $399,000. First Manhattan Co. lifted its position in Discovery Communications by 2.4% during the third quarter. First Manhattan Co. now owns 2,875,072 shares of the company’s stock worth $58,248,000 after acquiring an additional 68,698 shares during the last quarter. Finally, First Quadrant L P CA lifted its position in Discovery Communications by 29.2% during the third quarter. First Quadrant L P CA now owns 1,072,139 shares of the company’s stock worth $21,722,000 after acquiring an additional 242,266 shares during the last quarter. Institutional investors and hedge funds own 45.66% 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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