Barclays Increases Discovery (NASDAQ:DISCA) Price Target to $34.00


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Discovery (NASDAQ:DISCA) had its price target hoisted by analysts at Barclays from $29.00 to $34.00 in a note issued to investors on Tuesday, The Fly reports. The firm currently has an “underweight” rating on the stock. Barclays‘s price target would indicate a potential downside of 38.51% from the stock’s current price.

DISCA has been the subject of several other reports. Bank of America cut Discovery from a “buy” rating to an “underperform” rating and cut their target price for the stock from $32.00 to $25.00 in a research note on Friday, December 18th. Rosenblatt Securities restated a “hold” rating on shares of Discovery in a research note on Monday. Moffett Nathanson upgraded Discovery from a “neutral” rating to a “buy” rating and upped their target price for the stock from $23.00 to $45.00 in a research note on Friday, January 15th. Royal Bank of Canada upped their target price on Discovery from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 13th. Finally, Wells Fargo & Company upped their price target on shares of Discovery from $27.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, December 7th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. Discovery presently has an average rating of “Hold” and a consensus target price of $32.95.

Shares of DISCA stock opened at $55.29 on Tuesday. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.29. The stock has a market cap of $27.15 billion, a P/E ratio of 26.84, a price-to-earnings-growth ratio of 0.88 and a beta of 1.53. The stock has a 50 day simple moving average of $40.63 and a 200 day simple moving average of $28.07. Discovery has a 1 year low of $17.12 and a 1 year high of $56.02.

Discovery (NASDAQ:DISCA) last issued its quarterly earnings results on Sunday, February 21st. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.04. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.83 billion. Discovery had a return on equity of 20.76% and a net margin of 13.36%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 earnings per share. Analysts forecast that Discovery will post 3.17 EPS for the current year.

In related news, Director John C. Malone sold 550,000 shares of the stock in a transaction on Thursday, December 3rd. The stock was sold at an average price of $28.61, for a total value of $15,735,500.00. Following the completion of the sale, the director now directly owns 787,359 shares in the company, valued at $22,526,340.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.88% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its position in Discovery by 36.2% during the third quarter. BlackRock Inc. now owns 16,989,997 shares of the company’s stock valued at $369,872,000 after acquiring an additional 4,511,839 shares during the last quarter. Credit Suisse AG boosted its position in Discovery by 655.7% during the fourth quarter. Credit Suisse AG now owns 14,765,066 shares of the company’s stock valued at $444,281,000 after acquiring an additional 12,811,262 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Discovery by 3.5% during the third quarter. JPMorgan Chase & Co. now owns 9,915,109 shares of the company’s stock valued at $215,653,000 after acquiring an additional 334,342 shares during the last quarter. Morgan Stanley boosted its position in Discovery by 751.4% during the fourth quarter. Morgan Stanley now owns 9,478,017 shares of the company’s stock valued at $285,193,000 after acquiring an additional 8,364,840 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Discovery by 43.1% during the 4th quarter. Bank of New York Mellon Corp now owns 4,299,957 shares of the company’s stock worth $129,386,000 after purchasing an additional 1,295,790 shares in the last quarter. 40.84% of the stock is currently owned by institutional investors and hedge funds.

About Discovery

Discovery, Inc operates as a media company in the United States and internationally. The company operates in two segments, U.S. Networks and International Networks. The company owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, MotorTrend, Food Network, HGTV, Travel Channel, TVN, DIY Network, Cooking Channel, Discovery Family Channel, American Heroes Channel, Destination America, Discovery Life, Discovery en Espanol, Discovery Familia, Great American Country, ID, the Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.

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