Discovery Communications, Inc. (DISCA) Reaches New 12-Month Low at $20.01
Discovery Communications, Inc. (NASDAQ:DISCA) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $20.01 and last traded at $20.01, with a volume of 1,848,944 shares traded. The stock had previously closed at $20.53.
Several analysts have recently weighed in on the company. BidaskClub upgraded Discovery Communications from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Cowen and Company restated a “hold” rating and issued a $29.00 price objective on shares of Discovery Communications in a report on Tuesday, July 11th. Piper Jaffray Companies assumed coverage on Discovery Communications in a report on Friday, August 11th. They issued a “neutral” rating and a $27.00 price objective for the company. Royal Bank Of Canada restated a “buy” rating and issued a $32.00 price objective on shares of Discovery Communications in a report on Friday, July 14th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $30.00 price objective (down previously from $32.00) on shares of Discovery Communications in a report on Friday, July 14th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $27.07.
The firm’s 50-day moving average is $21.63 and its 200-day moving average is $25.21. The firm has a market cap of $3.08 billion, a PE ratio of 10.58 and a beta of 1.56.
Discovery Communications (NASDAQ:DISCA) last posted its earnings results on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.04). The business had revenue of $1.75 billion for 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 business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 earnings per share. On average, equities research analysts predict that Discovery Communications, Inc. will post $2.24 EPS for the current fiscal year.
In related news, Director S Decker Anstrom bought 10,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were acquired at an average price of $23.05 per share, with a total value of $230,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gunnar Wiedenfels bought 15,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was bought at an average cost of $21.70 per share, for a total transaction of $325,500.00. Following the transaction, the chief financial officer now owns 35,000 shares of the company’s stock, valued at approximately $759,500. The disclosure for this purchase can be found here. Insiders acquired a total of 55,000 shares of company stock worth $1,243,300 in the last three months. Company insiders own 6.81% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. American International Group Inc. increased its position in shares of Discovery Communications by 0.3% in the first quarter. American International Group Inc. now owns 73,984 shares of the company’s stock valued at $2,152,000 after acquiring an additional 192 shares during the last quarter. Swiss National Bank grew its holdings in Discovery Communications by 3.3% during the second quarter. Swiss National Bank now owns 556,088 shares of the company’s stock worth $14,364,000 after purchasing an additional 17,700 shares during the period. Arizona State Retirement System grew its holdings in Discovery Communications by 0.8% during the second quarter. Arizona State Retirement System now owns 38,100 shares of the company’s stock worth $984,000 after purchasing an additional 300 shares during the period. Jennison Associates LLC grew its holdings in Discovery Communications by 7.6% during the second quarter. Jennison Associates LLC now owns 25,051 shares of the company’s stock worth $647,000 after purchasing an additional 1,775 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Discovery Communications by 2.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 466,304 shares of the company’s stock worth $12,045,000 after purchasing an additional 11,792 shares during the period. 45.84% of the stock is currently owned by institutional investors and hedge funds.
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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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