Discovery Communications, Inc. (DISCA) Receives $27.71 Consensus Target Price from Brokerages
Discovery Communications, Inc. (NASDAQ:DISCA) has received a consensus rating of “Hold” from the twenty-two research firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $27.71.
A number of brokerages have recently weighed in on DISCA. Pivotal Research upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Tuesday, August 8th. MKM Partners restated a “neutral” rating and issued a $26.00 price objective (down from $30.00) on shares of Discovery Communications in a report on Wednesday, August 2nd. Royal Bank Of Canada lowered their price objective on shares of Discovery Communications from $32.00 to $29.00 and set an “outperform” rating for the company in a report on Thursday, August 17th. Jefferies Group LLC restated a “hold” rating and issued a $28.00 price objective on shares of Discovery Communications in a report on Friday, June 16th. Finally, Credit Suisse Group restated an “underperform” rating and issued a $24.00 price objective on shares of Discovery Communications in a report on Saturday, July 22nd.
In related news, Director S Decker Anstrom acquired 10,000 shares of Discovery Communications stock in a transaction on Wednesday, August 2nd. The shares were acquired at an average cost of $23.05 per share, with a total value of $230,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bruce Campbell sold 9,283 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $26.43, for a total transaction of $245,349.69. The disclosure for this sale can be found here. Insiders have purchased a total of 55,000 shares of company stock valued at $1,243,300 over the last quarter. 6.81% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the business. Bank of Montreal Can grew its position in shares of Discovery Communications by 8.4% in the 1st quarter. Bank of Montreal Can now owns 43,128 shares of the company’s stock worth $1,256,000 after buying an additional 3,355 shares during the period. DnB Asset Management AS grew its position in shares of Discovery Communications by 19.9% in the 1st quarter. DnB Asset Management AS now owns 13,267 shares of the company’s stock worth $386,000 after buying an additional 2,200 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Discovery Communications by 8.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 40,557 shares of the company’s stock worth $1,180,000 after buying an additional 3,146 shares during the period. Candriam Luxembourg S.C.A. purchased a new stake in shares of Discovery Communications in the 1st quarter worth about $223,000. Finally, Mn Services Vermogensbeheer B.V. grew its position in shares of Discovery Communications by 5.8% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 3,915 shares of the company’s stock worth $106,000 after buying an additional 215 shares during the period. 45.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of Discovery Communications (NASDAQ:DISCA) traded down 0.23% during mid-day trading on Wednesday, hitting $22.16. 1,770,117 shares of the stock were exchanged. The stock’s 50-day moving average is $24.14 and its 200-day moving average is $26.54. The stock has a market capitalization of $12.63 billion, a price-to-earnings ratio of 11.76 and a beta of 1.59. Discovery Communications has a 52 week low of $22.11 and a 52 week high of $30.25.
Discovery Communications (NASDAQ:DISCA) last announced its earnings results on Monday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by $0.04. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts forecast that Discovery Communications will post $2.24 earnings per share for the current fiscal year.
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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