Equities Analysts Set Expectations for Discovery Communications Inc.’s Q3 2016 Earnings (DISCA)
Discovery Communications Inc. (NASDAQ:DISCA) – Equities researchers at FBR & Co lowered their Q3 2016 earnings per share (EPS) estimates for shares of Discovery Communications in a research report issued on Friday. FBR & Co analyst B. Crockett now expects that the brokerage will post earnings of $0.43 per share for the quarter, down from their prior forecast of $0.44. FBR & Co has a “Hold” rating on the stock.
DISCA has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Discovery Communications from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Barrington Research downgraded shares of Discovery Communications from an “outperform” rating to a “market perform” rating in a report on Thursday, September 29th. Jefferies Group reaffirmed a “hold” rating on shares of Discovery Communications in a report on Monday, August 29th. Nomura cut their price target on shares of Discovery Communications from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Monday, October 3rd. Finally, Loop Capital reissued a “buy” rating and set a $31.00 price target on shares of Discovery Communications in a report on Saturday, September 3rd. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. Discovery Communications has an average rating of “Hold” and a consensus price target of $30.15.
Shares of Discovery Communications (NASDAQ:DISCA) opened at 25.21 on Monday. The company’s 50-day moving average is $25.80 and its 200 day moving average is $26.48. Discovery Communications has a 1-year low of $23.66 and a 1-year high of $31.80. The firm has a market capitalization of $10.54 billion, a price-to-earnings ratio of 13.71 and a beta of 1.59.
Discovery Communications (NASDAQ:DISCA) last released its earnings results on Tuesday, August 2nd. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.54 by $0.02. Discovery Communications had a net margin of 18.06% and a return on equity of 23.45%. The business earned $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the business earned $0.49 earnings per share. The business’s quarterly revenue was up 3.3% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rothschild Investment Corp IL purchased a new position in shares of Discovery Communications during the third quarter worth about $265,000. Private Trust Co. NA boosted its position in shares of Discovery Communications by 1.3% in the third quarter. Private Trust Co. NA now owns 28,562 shares of the company’s stock worth $768,000 after buying an additional 363 shares in the last quarter. Parametrica Management Ltd purchased a new position in shares of Discovery Communications during the third quarter worth about $256,000. Nisa Investment Advisors LLC boosted its position in shares of Discovery Communications by 12.8% in the third quarter. Nisa Investment Advisors LLC now owns 41,333 shares of the company’s stock worth $1,113,000 after buying an additional 4,676 shares in the last quarter. Finally, British Columbia Investment Management Corp raised its position in shares of Discovery Communications by 107.5% in the third quarter. British Columbia Investment Management Corp now owns 112,255 shares of the company’s stock worth $3,022,000 after buying an additional 58,165 shares during the last quarter. Hedge funds and other institutional investors own 40.65% of the company’s stock.
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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