Discovery Communications Inc. (NASDAQ:DISCA) – Stock analysts at Jefferies Group raised their FY2017 EPS estimates for Discovery Communications in a research note issued on Wednesday. Jefferies Group analyst J. Janedis now forecasts that the company will earn $1.89 per share for the year, up from their prior forecast of $1.83. Jefferies Group has a “Hold” rating and a $20.00 price objective on the stock. Jefferies Group also issued estimates for Discovery Communications’ Q4 2017 earnings at $0.37 EPS, Q1 2018 earnings at $0.44 EPS, Q2 2018 earnings at $0.73 EPS, Q3 2018 earnings at $0.54 EPS, Q4 2018 earnings at $0.58 EPS and FY2018 earnings at $2.29 EPS.
Several other research firms have also weighed in on DISCA. Royal Bank of Canada upped their target price on Discovery Communications to $29.00 and gave the company an “outperform” rating in a report on Thursday. Pivotal Research lowered Discovery Communications from a “buy” rating to a “hold” rating and lowered their target price for the company from $26.00 to $25.00 in a report on Tuesday, January 9th. BidaskClub lowered Discovery Communications from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. Wells Fargo & Co reissued a “market perform” rating and issued a $25.00 target price (up previously from $18.00) on shares of Discovery Communications in a report on Thursday, January 4th. Finally, Barrington Research raised Discovery Communications from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a report on Tuesday, January 2nd. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $24.44.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.12). The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Discovery Communications had a return on equity of 22.24% and a net margin of 16.63%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.
In related news, Director John C. Malone acquired 332,523 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The shares were acquired at an average price of $19.72 per share, with a total value of $6,557,353.56. Following the completion of the purchase, the director now directly owns 671,095 shares in the company, valued at $13,233,993.40. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Bruce Campbell sold 15,976 shares of the stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $21.50, for a total value of $343,484.00. Following the sale, the insider now directly owns 85,298 shares in the company, valued at approximately $1,833,907. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 527,523 shares of company stock worth $9,629,104. Corporate insiders own 6.81% of the company’s stock.
Large investors have recently modified their holdings of the business. Cowen Inc. acquired a new stake in Discovery Communications in the 3rd quarter worth about $5,880,000. USA Financial Portformulas Corp acquired a new stake in Discovery Communications in the 3rd quarter worth about $335,000. Princeton Portfolio Strategies Group LLC boosted its stake in Discovery Communications by 2,242.1% in the 2nd quarter. Princeton Portfolio Strategies Group LLC now owns 180,340 shares of the company’s stock worth $4,658,000 after buying an additional 172,640 shares during the last quarter. FDx Advisors Inc. boosted its stake in Discovery Communications by 169.5% in the 3rd quarter. FDx Advisors Inc. now owns 25,243 shares of the company’s stock worth $537,000 after buying an additional 15,875 shares during the last quarter. Finally, Clinton Group Inc. boosted its stake in Discovery Communications by 46.8% in the 2nd quarter. Clinton Group Inc. now owns 179,248 shares of the company’s stock worth $4,630,000 after buying an additional 57,110 shares during the last quarter. 48.13% of the stock is currently owned by hedge funds and other institutional investors.
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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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