Brokers Set Expectations for Discovery Communications, Inc.’s Q3 2017 Earnings (DISCA)
Discovery Communications, Inc. (NASDAQ:DISCA) – Investment analysts at FBR & Co lifted their Q3 2017 EPS estimates for shares of Discovery Communications in a report issued on Tuesday. FBR & Co analyst B. Crockett now anticipates that the company will post earnings of $0.58 per share for the quarter, up from their previous estimate of $0.56. FBR & Co has a “Mkt Perform” rating and a $28.00 price target on the stock. FBR & Co also issued estimates for Discovery Communications’ FY2017 earnings at $2.30 EPS.
A number of other research analysts also recently commented on the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $29.00 target price on shares of Discovery Communications in a report on Friday, October 20th. Barclays PLC reduced their target price on Discovery Communications from $25.00 to $18.00 and set an “underweight” rating on the stock in a report on Friday, October 13th. Zacks Investment Research raised Discovery Communications from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Discovery Communications in a report on Thursday, October 12th. Finally, ValuEngine raised Discovery Communications from a “hold” rating to a “buy” rating in a report on Wednesday, October 11th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $26.57.
Discovery Communications (NASDAQ:DISCA) last issued its quarterly earnings data on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.04). Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the firm posted $0.71 EPS. Discovery Communications’s quarterly revenue was up 2.2% compared to the same quarter last year.
Several hedge funds have recently modified their holdings of DISCA. BlackRock Inc. increased its position in shares of Discovery Communications by 2,394.5% during the 1st quarter. BlackRock Inc. now owns 9,346,002 shares of the company’s stock valued at $271,875,000 after purchasing an additional 8,971,338 shares during the period. FMR LLC increased its position in shares of Discovery Communications by 32.7% during the 2nd quarter. FMR LLC now owns 4,938,569 shares of the company’s stock valued at $127,563,000 after purchasing an additional 1,216,517 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in shares of 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 valued at $480,599,000 after purchasing an additional 917,632 shares during the period. Vanguard Group Inc. increased its position in shares of Discovery Communications by 5.4% during the 2nd quarter. Vanguard Group Inc. now owns 16,661,316 shares of the company’s stock valued at $430,362,000 after purchasing an additional 858,015 shares during the period. Finally, Bridgewater Associates LP acquired a new position in shares of Discovery Communications during the 2nd quarter valued at $14,672,000. Institutional investors own 45.80% of the company’s stock.
In other news, insider Paul J. Guagliardo purchased 10,000 shares of the stock in a transaction dated Friday, August 18th. The shares were bought at an average cost of $22.71 per share, for a total transaction of $227,100.00. Following the transaction, the insider now owns 10,000 shares in the company, valued at $227,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gunnar Wiedenfels purchased 15,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were purchased at an average price of $21.70 per share, for a total transaction of $325,500.00. Following the completion of the transaction, the chief financial officer now owns 35,000 shares in the company, valued at approximately $759,500. The disclosure for this purchase can be found here. 6.81% of the stock is owned by company insiders.
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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