Discovery (NASDAQ:DISCA) PT Raised to $45.00 at Rosenblatt Securities


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Discovery (NASDAQ:DISCA) had its price target lifted by equities researchers at Rosenblatt Securities from $23.00 to $45.00 in a research report issued on Tuesday, Stock Target Advisor reports. The firm currently has a “neutral” rating on the stock. Rosenblatt Securities’ target price indicates a potential downside of 18.14% from the company’s current price.

Several other research firms have also recently issued reports on DISCA. Royal Bank of Canada raised their price objective on Discovery from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, January 13th. Credit Suisse Group raised their price objective on Discovery from $41.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday. They noted that the move was a valuation call. KeyCorp started coverage on Discovery in a report on Tuesday, December 8th. They set a “sector weight” rating and a $31.00 price objective on the stock. Wells Fargo & Company raised their price objective on Discovery from $42.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday. They noted that the move was a valuation call. Finally, TheStreet upgraded Discovery from a “c” rating to a “b-” rating in a report on Thursday, November 5th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. Discovery currently has a consensus rating of “Hold” and an average price target of $36.33.

NASDAQ:DISCA traded down $0.32 during trading hours on Tuesday, reaching $54.97. 2,298 shares of the company traded hands, compared to its average volume of 10,007,455. The firm’s 50-day moving average is $40.63 and its 200-day moving average is $28.07. The stock has a market cap of $26.99 billion, a P/E ratio of 26.68, a P/E/G ratio of 0.88 and a beta of 1.53. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.99 and a quick ratio of 1.99. Discovery has a 1-year low of $17.12 and a 1-year high of $56.02.

Discovery (NASDAQ:DISCA) last posted its quarterly earnings data on Monday, February 22nd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.04. Discovery had a return on equity of 20.76% and a net margin of 13.36%. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The business’s revenue was up .3% on a year-over-year basis. As a group, research analysts predict that Discovery will post 3.17 earnings per share for the current year.

In other news, Director John C. Malone sold 550,000 shares of Discovery stock in a transaction dated Thursday, December 3rd. The stock was sold at an average price of $28.61, for a total transaction of $15,735,500.00. Following the sale, the director now directly owns 787,359 shares of the company’s stock, valued at $22,526,340.99. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.88% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Grimes & Company Inc. bought a new stake in Discovery in the fourth quarter valued at about $11,435,000. Hartford Investment Management Co. increased its holdings in Discovery by 11.0% in the fourth quarter. Hartford Investment Management Co. now owns 18,004 shares of the company’s stock valued at $542,000 after buying an additional 1,777 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Discovery in the third quarter valued at about $201,000. Alps Advisors Inc. bought a new stake in Discovery in the third quarter valued at about $247,000. Finally, State of Michigan Retirement System increased its holdings in Discovery by 16.2% in the third quarter. State of Michigan Retirement System now owns 47,465 shares of the company’s stock valued at $1,033,000 after buying an additional 6,600 shares during 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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