Discovery Communications Inc. (DISCA) Given New $35.00 Price Target at RBC Capital Markets
Discovery Communications Inc. (NASDAQ:DISCA) had its target price increased by RBC Capital Markets from $33.00 to $35.00 in a report issued on Wednesday morning. They currently have an outperform rating on the stock.
A number of other brokerages have also weighed in on DISCA. Zacks Investment Research upgraded Discovery Communications from a hold rating to a buy rating and set a $29.00 price objective on the stock in a research report on Wednesday, July 27th. Pivotal Research reiterated a buy rating on shares of Discovery Communications in a research report on Monday, August 1st. Macquarie upgraded Discovery Communications from an underperform rating to a neutral rating and lowered their target price for the company from $28.76 to $27.00 in a research note on Wednesday, August 3rd. MKM Partners raised their target price on Discovery Communications from $27.00 to $29.00 and gave the company a neutral rating in a research note on Wednesday, August 3rd. Finally, FBR & Co restated a hold rating on shares of Discovery Communications in a research note on Thursday, August 4th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $30.10.
Shares of Discovery Communications (NASDAQ:DISCA) traded up 1.41% during trading on Wednesday, reaching $28.02. The company’s stock had a trading volume of 2,482,081 shares. The stock has a market cap of $4257.47 billion, a price-to-earnings ratio of 15.74 and a beta of 1.60. Discovery Communications has a 52-week low of $23.66 and a 52-week high of $31.39. The stock’s 50 day moving average price is $26.40 and its 200-day moving average price is $26.18.
Discovery Communications (NASDAQ:DISCA) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by $0.02. Discovery Communications had a return on equity of 22.76% and a net margin of 17.14%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the business earned $0.47 earnings per share. Discovery Communications’s revenue was down .1% compared to the same quarter last year. Equities analysts anticipate that Discovery Communications will post $1.91 EPS for the current year.
A number of hedge funds have recently made changes to their positions in DISCA. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Discovery Communications by 50.0% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 15,522,485 shares of the company’s stock valued at $391,632,000 after buying an additional 5,175,467 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Discovery Communications by 585.7% in the second quarter. Alliancebernstein L.P. now owns 1,859,875 shares of the company’s stock valued at $46,925,000 after buying an additional 1,588,653 shares during the period. FMR LLC boosted its stake in shares of Discovery Communications by 86.3% in the second quarter. FMR LLC now owns 2,369,729 shares of the company’s stock valued at $59,788,000 after buying an additional 1,097,874 shares during the period. State Street Corp boosted its stake in shares of Discovery Communications by 10.1% in the second quarter. State Street Corp now owns 6,623,850 shares of the company’s stock valued at $167,122,000 after buying an additional 606,238 shares during the period. Finally, Neuberger Berman Group LLC raised its stake in shares of Discovery Communications by 1,940.4% in the third quarter. Neuberger Berman Group LLC now owns 617,365 shares of the company’s stock valued at $16,619,000 after buying an additional 587,108 shares in the last quarter. 42.04% of the stock is currently owned by institutional investors and hedge funds.
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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