Moffett Nathanson Downgrades Discovery Communications Inc. (DISCA) to Sell
Discovery Communications Inc. (NASDAQ:DISCA) was downgraded by research analysts at Moffett Nathanson from a “neutral” rating to a “sell” rating in a research note issued on Tuesday. They presently have a $21.00 price target on the stock, down from their previous price target of $31.00. Moffett Nathanson’s target price points to a potential downside of 21.64% from the company’s previous close.
Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Discovery Communications in a report on Saturday, July 9th. Zacks Investment Research raised Discovery Communications from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Wednesday, July 27th. Jefferies Group reissued a “hold” rating on shares of Discovery Communications in a report on Thursday, August 11th. MKM Partners decreased their price target on Discovery Communications from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, July 18th. Finally, Macquarie raised Discovery Communications from an “underperform” rating to a “neutral” rating and decreased their price target for the company from $28.76 to $27.00 in a report on Wednesday, August 3rd. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $30.05.
Discovery Communications (NASDAQ:DISCA) opened at 26.80 on Tuesday. The stock has a market capitalization of $11.21 billion, a PE ratio of 14.57 and a beta of 1.59. The stock has a 50 day moving average price of $25.68 and a 200 day moving average price of $26.67. Discovery Communications has a 12 month low of $23.66 and a 12 month high of $31.80.
Discovery Communications (NASDAQ:DISCA) last announced its earnings results on Tuesday, August 2nd. The company reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.02. Discovery Communications had a return on equity of 23.45% and a net margin of 18.06%. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the firm earned $0.49 EPS. Discovery Communications’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts forecast that Discovery Communications will post $1.98 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of DISCA. State Street Corp increased its position in shares of Discovery Communications by 0.5% in the first quarter. State Street Corp now owns 6,017,612 shares of the company’s stock worth $172,283,000 after buying an additional 30,462 shares during the period. Aviva PLC increased its position in shares of Discovery Communications by 0.4% in the first quarter. Aviva PLC now owns 76,975 shares of the company’s stock worth $2,204,000 after buying an additional 312 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of Discovery Communications by 49.3% in the first quarter. UBS Asset Management Americas Inc. now owns 796,105 shares of the company’s stock worth $22,793,000 after buying an additional 262,759 shares during the period. Ngam Advisors L.P. increased its position in shares of Discovery Communications by 8.7% in the first quarter. Ngam Advisors L.P. now owns 113,272 shares of the company’s stock worth $3,243,000 after buying an additional 9,107 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Discovery Communications by 2.3% in the first quarter. Geode Capital Management LLC now owns 1,470,612 shares of the company’s stock worth $42,045,000 after buying an additional 33,537 shares during the period. 40.59% of the stock is owned by institutional investors.
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 and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments are U.S.
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