Discovery Communications, Inc. (DISCK) Downgraded to Sell at Zacks Investment Research
Discovery Communications, Inc. (NASDAQ:DISCK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.
According to Zacks, “Discovery Communications is the world’s number one nonfiction media company reaching more than 1.5 billion cumulative subscribers in 170 countries. It empowers people to explore their world and satisfy their curiosity through 100-plus worldwide networks, led by Discovery Channel, TLC, Animal Planet, Science Channel, Planet Green, Investigation Discovery and HD Theater, as well as leading consumer and educational products and services, and a diversified portfolio of digital media services including HowStuffWorks.com. “
DISCK has been the subject of a number of other research reports. BidaskClub downgraded shares of Discovery Communications from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Barrington Research restated a “market perform” rating on shares of Discovery Communications in a report on Tuesday, August 1st. Finally, ValuEngine downgraded shares of Discovery Communications from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $29.00.
Shares of Discovery Communications (NASDAQ:DISCK) traded down 0.34% on Monday, reaching $20.35. 1,496,500 shares of the company were exchanged. The company’s 50 day moving average is $21.29 and its 200 day moving average is $25.07. The firm has a market capitalization of $11.60 billion, a PE ratio of 10.80 and a beta of 1.46. Discovery Communications has a 12-month low of $19.36 and a 12-month high of $29.18.
Discovery Communications (NASDAQ:DISCK) last released its quarterly earnings results on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.04). Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. The firm had revenue of $1.75 billion for the quarter. Analysts forecast that Discovery Communications will post $2.24 earnings per share for the current year.
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Institutional investors and hedge funds have recently bought and sold shares of the company. BB&T Investment Services Inc. purchased a new position in shares of Discovery Communications in the second quarter worth about $102,000. Fiduciary Trust Co. purchased a new position in shares of Discovery Communications in the second quarter worth about $160,000. Meeder Asset Management Inc. purchased a new position in shares of Discovery Communications in the first quarter worth about $178,000. Quantbot Technologies LP increased its stake in shares of Discovery Communications by 1,035.8% in the first quarter. Quantbot Technologies LP now owns 6,622 shares of the company’s stock worth $187,000 after purchasing an additional 6,039 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in shares of Discovery Communications in the second quarter worth about $196,000. Hedge funds and other institutional investors own 45.29% of the company’s stock.
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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