Discovery Communications, Inc. (DISCA) Stock Rating Upgraded by Credit Suisse Group
Discovery Communications, Inc. (NASDAQ:DISCA) was upgraded by investment analysts at Credit Suisse Group from an “underperform” rating to a “neutral” rating in a research note issued to investors on Thursday. The brokerage presently has a $22.00 target price on the stock, down from their previous target price of $23.00. Credit Suisse Group’s price target points to a potential upside of 0.27% from the stock’s current price.
DISCA has been the subject of a number of other research reports. Piper Jaffray Companies initiated coverage on shares of Discovery Communications in a report on Friday, August 11th. They set a “neutral” rating and a $27.00 target price for the company. Cowen and Company reaffirmed a “hold” rating and set a $25.00 target price on shares of Discovery Communications in a report on Friday, September 8th. ValuEngine lowered shares of Discovery Communications from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $28.00 target price on shares of Discovery Communications in a report on Friday, June 16th. Finally, BidaskClub raised shares of Discovery Communications from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. Discovery Communications presently has a consensus rating of “Hold” and a consensus target price of $27.13.
Shares of Discovery Communications (NASDAQ DISCA) traded up 2.14% during trading on Thursday, hitting $21.94. 7,494,668 shares of the company’s stock were exchanged. The company has a market cap of $12.51 billion, a P/E ratio of 11.64 and a beta of 1.59. The company has a 50-day moving average of $22.77 and a 200-day moving average of $26.05. Discovery Communications has a 12-month low of $20.53 and a 12-month high of $30.25.
Discovery Communications (NASDAQ:DISCA) last released its earnings results on Monday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.04). Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the company earned $0.71 EPS. Discovery Communications’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities analysts expect that Discovery Communications will post $2.24 earnings per share for the current fiscal year.
In related news, CFO Gunnar Wiedenfels bought 15,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was bought at an average price of $21.70 per share, with a total value of $325,500.00. Following the completion of the purchase, the chief financial officer now directly owns 35,000 shares in the company, valued at approximately $759,500. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director S Decker Anstrom bought 10,000 shares of the stock in a transaction on Wednesday, August 2nd. The shares were bought at an average cost of $23.05 per share, with a total value of $230,500.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 55,000 shares of company stock valued at $1,243,300. 6.81% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its stake in Discovery Communications by 437.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock worth $102,000 after buying an additional 3,230 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Discovery Communications by 24.7% during the first quarter. Daiwa Securities Group Inc. now owns 4,540 shares of the company’s stock worth $132,000 after purchasing an additional 900 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of Discovery Communications during the second quarter worth about $133,000. Acadian Asset Management LLC acquired a new stake in shares of Discovery Communications during the first quarter worth about $134,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Discovery Communications during the first quarter worth about $182,000. 45.85% of the stock is owned by institutional investors.
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 (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments include U.S.
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