Short Interest in Discovery Communications Inc. (DISCA) Declines By 7.8%
Discovery Communications Inc. (NASDAQ:DISCA) was the recipient of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 25,462,828 shares, a drop of 7.8% from the September 15th total of 27,623,365 shares. Currently, 17.1% of the shares of the company are sold short. Based on an average daily volume of 4,387,678 shares, the days-to-cover ratio is presently 5.8 days.
Discovery Communications (NASDAQ:DISCA) opened at 25.21 on Wednesday. The stock’s 50 day moving average price is $25.80 and its 200 day moving average price is $26.48. 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 has a 52-week low of $23.66 and a 52-week high of $31.80.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.56 earnings per share for the quarter, topping the 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 business earned $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the company earned $0.49 EPS. Discovery Communications’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities analysts anticipate that Discovery Communications will post $1.97 earnings per share for the current fiscal year.
A number of research analysts have issued reports on DISCA shares. Zacks Investment Research cut Discovery Communications from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Barrington Research cut Discovery Communications from an “outperform” rating to a “market perform” rating in a report on Thursday, September 29th. Jefferies Group reissued a “hold” rating on shares of Discovery Communications in a report on Monday, August 29th. Nomura cut their price objective on 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 objective on shares of Discovery Communications in a report on Saturday, September 3rd. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $30.15.
Hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB increased its stake in shares of Discovery Communications by 10.1% in the second quarter. Nordea Investment Management AB now owns 4,141 shares of the company’s stock valued at $104,000 after buying an additional 381 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Discovery Communications by 3.7% in the second quarter. Pacer Advisors Inc. now owns 4,507 shares of the company’s stock valued at $114,000 after buying an additional 160 shares in the last quarter. Advisor Group Inc. acquired a new stake in shares of Discovery Communications during the second quarter valued at $116,000. Creative Planning increased its stake in shares of Discovery Communications by 10.7% in the second quarter. Creative Planning now owns 5,220 shares of the company’s stock valued at $132,000 after buying an additional 503 shares in the last quarter. Finally, Euclid Advisors LLC increased its stake in shares of Discovery Communications by 9.5% in the first quarter. Euclid Advisors LLC now owns 5,200 shares of the company’s stock valued at $149,000 after buying an additional 450 shares in the last quarter. Institutional investors and hedge funds own 40.65% 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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