Discovery Communications Inc. (DISCA) Lowered to Market Perform at Barrington Research
A number of other analysts have also recently issued reports on the company. Moffett Nathanson cut Discovery Communications from a neutral rating to a sell rating and dropped their price objective for the stock from $31.00 to $21.00 in a report on Tuesday. Jefferies Group restated a hold rating on shares of Discovery Communications in a research note on Monday, September 12th. Loop Capital restated a buy rating and issued a $31.00 target price on shares of Discovery Communications in a research note on Saturday, September 3rd. Argus restated a buy rating and issued a $40.00 target price on shares of Discovery Communications in a research note on Monday, August 15th. Finally, Zacks Investment Research lowered Discovery Communications from a buy rating to a hold rating in a research note on Wednesday, August 10th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $30.05.
Shares of Discovery Communications (NASDAQ:DISCA) opened at 26.81 on Thursday. The firm has a market capitalization of $11.21 billion, a price-to-earnings ratio of 14.58 and a beta of 1.59. The stock’s 50 day moving average price is $25.71 and its 200-day moving average price is $26.67. Discovery Communications has a 52 week low of $23.66 and a 52 week high of $31.80.
Discovery Communications (NASDAQ:DISCA) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. Discovery Communications had a return on equity of 23.45% and a net margin of 18.06%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts predict that Discovery Communications will post $1.98 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in DISCA. Kentucky Retirement Systems acquired a new position in shares of Discovery Communications during the second quarter valued at approximately $323,000. Mason Street Advisors LLC acquired a new position in shares of Discovery Communications during the second quarter valued at approximately $511,000. Schwab Charles Investment Management Inc. increased its position in shares of Discovery Communications by 4.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 429,751 shares of the company’s stock valued at $10,843,000 after buying an additional 18,632 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Discovery Communications by 2.3% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 33,980 shares of the company’s stock valued at $857,000 after buying an additional 768 shares during the last quarter. Finally, Stifel Financial Corp increased its position in shares of Discovery Communications by 34.9% in the second quarter. Stifel Financial Corp now owns 263,434 shares of the company’s stock valued at $6,648,000 after buying an additional 68,168 shares during the last quarter. Institutional investors and hedge funds own 40.59% of the company’s stock.
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 and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments are U.S.
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