Investors Sell Shares of Discovery Communications (DISCA) on Strength After Analyst Downgrade
Investors sold shares of Discovery Communications, Inc. (NASDAQ:DISCA) on strength during trading on Friday after Deutsche Bank lowered their price target on the stock from $26.00 to $21.00. $24.31 million flowed into the stock on the tick-up and $51.44 million flowed out of the stock on the tick-down, for a money net flow of $27.13 million out of the stock. Of all equities tracked, Discovery Communications had the 0th highest net out-flow for the day. Discovery Communications traded up $0.44 for the day and closed at $19.46
Several other equities analysts have also weighed in on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $29.00 price objective on shares of Discovery Communications in a research report on Friday, October 20th. Credit Suisse Group raised shares of Discovery Communications from an “underperform” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $22.00 in a research report on Thursday, September 14th. ValuEngine lowered shares of Discovery Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research lowered shares of Discovery Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Discovery Communications in a research report on Thursday, October 12th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. Discovery Communications has a consensus rating of “Hold” and a consensus target price of $23.67.
In other Discovery Communications news, Director J David Wargo bought 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were acquired at an average cost of $15.76 per share, for a total transaction of $1,576,000.00. Following the transaction, the director now directly owns 147,591 shares in the company, valued at $2,326,034.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Gunnar Wiedenfels bought 15,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were acquired at an average price of $15.45 per share, for a total transaction of $231,750.00. Following the completion of the transaction, the chief financial officer now owns 50,000 shares in the company, valued at $772,500. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 195,000 shares of company stock worth $3,071,750. 6.81% of the stock is currently owned by corporate insiders.
The stock has a market capitalization of $7,170.00, a PE ratio of 8.64, a PEG ratio of 0.98 and a beta of 1.57. The company has a quick ratio of 5.87, a current ratio of 5.87 and a debt-to-equity ratio of 2.56.
Discovery Communications (NASDAQ:DISCA) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.12). The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Discovery Communications had a return on equity of 22.24% and a net margin of 16.63%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 EPS. sell-side analysts forecast that Discovery Communications, Inc. will post 2.02 earnings per share for the current year.
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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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