BidaskClub Lowers Discovery Communications, Inc. (DISCA) to Strong Sell
BidaskClub downgraded shares of Discovery Communications, Inc. (NASDAQ:DISCA) from a sell rating to a strong sell rating in a research note published on Friday morning.
A number of other equities analysts also recently issued reports on DISCA. Piper Jaffray Companies assumed coverage on Discovery Communications in a research note on Friday, August 11th. They issued a neutral rating and a $27.00 price target on the stock. Barrington Research restated a market perform rating on shares of Discovery Communications in a research note on Wednesday, August 2nd. Royal Bank Of Canada dropped their price target on Discovery Communications from $32.00 to $29.00 and set an outperform rating on the stock in a research note on Thursday. FBR & Co dropped their price target on Discovery Communications from $30.00 to $28.00 and set a mkt perform rating on the stock in a research note on Tuesday, August 1st. Finally, ValuEngine downgraded Discovery Communications from a buy rating to a hold rating in a research note on Friday, June 2nd. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. Discovery Communications currently has an average rating of Hold and a consensus target price of $27.27.
Discovery Communications (NASDAQ:DISCA) opened at 22.49 on Friday. The stock has a market cap of $12.82 billion, a PE ratio of 11.93 and a beta of 1.59. The firm has a 50-day moving average price of $25.12 and a 200 day moving average price of $26.95. Discovery Communications has a 52-week low of $22.12 and a 52-week high of $30.25.
Discovery Communications (NASDAQ:DISCA) last posted its earnings results on Monday, July 31st. The company reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.04. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.76 billion. Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 EPS. On average, analysts forecast that Discovery Communications will post $2.23 earnings per share for the current fiscal year.
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In other Discovery Communications news, insider Bruce Campbell sold 9,283 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $26.43, for a total transaction of $245,349.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Gunnar Wiedenfels purchased 20,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were acquired at an average cost of $23.01 per share, for a total transaction of $460,200.00. Following the completion of the acquisition, the chief financial officer now owns 20,000 shares of the company’s stock, valued at $460,200. The disclosure for this purchase can be found here. Insiders have purchased 45,000 shares of company stock worth $1,016,200 over the last quarter. 6.81% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Discovery Communications by 2,394.5% in the first quarter. BlackRock Inc. now owns 9,346,002 shares of the company’s stock worth $271,875,000 after buying an additional 8,971,338 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Discovery Communications by 20.3% in the first quarter. Bank of New York Mellon Corp now owns 10,967,133 shares of the company’s stock worth $319,034,000 after buying an additional 1,848,329 shares in the last quarter. Strs Ohio boosted its stake in Discovery Communications by 59,357.5% in the first quarter. Strs Ohio now owns 1,277,148 shares of the company’s stock worth $37,152,000 after buying an additional 1,275,000 shares in the last quarter. FMR LLC boosted its stake in Discovery Communications by 32.7% in the second quarter. FMR LLC now owns 4,938,569 shares of the company’s stock worth $127,563,000 after buying an additional 1,216,517 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in Discovery Communications by 5.2% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 18,606,223 shares of the company’s stock worth $480,599,000 after buying an additional 917,632 shares in the last quarter. 44.22% 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 (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments include U.S.
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