Discovery Communications, Inc. (DISCA) Releases Earnings Results
Discovery Communications, Inc. (NASDAQ:DISCA) issued its earnings results on Thursday. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.12), Bloomberg Earnings reports. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. Discovery Communications had a net margin of 16.63% and a return on equity of 22.24%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business earned $0.47 EPS.
Discovery Communications (DISCA) traded down $2.64 on Friday, hitting $16.52. 9,777,270 shares of the company were exchanged, compared to its average volume of 5,424,316. The firm has a market capitalization of $6.56 billion, a P/E ratio of 8.32 and a beta of 1.55.
In other news, CFO Gunnar Wiedenfels bought 15,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was purchased at an average price of $21.70 per share, with a total value of $325,500.00. Following the completion of the purchase, the chief financial officer now owns 35,000 shares of the company’s stock, valued at $759,500. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul J. Guagliardo purchased 10,000 shares of Discovery Communications stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $22.71 per share, with a total value of $227,100.00. Following the acquisition, the insider now directly owns 10,000 shares of the company’s stock, valued at $227,100. The disclosure for this purchase can be found here. 6.81% of the stock is currently owned by corporate insiders.
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Several research analysts recently commented on the stock. Loop Capital dropped their target price on shares of Discovery Communications from $25.00 to $21.00 and set a “hold” rating on the stock in a report on Friday. Royal Bank Of Canada restated an “outperform” rating and issued a $24.00 price target (down from $29.00) on shares of Discovery Communications in a research report on Friday. Jefferies Group LLC decreased their price target on shares of Discovery Communications from $27.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday. Barclays PLC decreased their price target on shares of Discovery Communications from $25.00 to $18.00 and set an “underweight” rating on the stock in a research report on Friday, October 13th. Finally, Zacks Investment Research upgraded shares of Discovery Communications from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $24.93.
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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