Discovery (NASDAQ:DISCA) Given New $27.00 Price Target at UBS Group

Discovery (NASDAQ:DISCA) had its price objective cut by UBS Group from $38.00 to $27.00 in a report released on Wednesday morning, The Fly reports. They currently have a neutral rating on the stock.

A number of other research firms have also recently weighed in on DISCA. Deutsche Bank Aktiengesellschaft reduced their price target on Discovery from $55.00 to $40.00 and set a buy rating for the company in a report on Wednesday, August 4th. Royal Bank of Canada reduced their price target on Discovery from $56.00 to $52.00 and set an outperform rating for the company in a report on Thursday, June 24th. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Discovery currently has a consensus rating of Hold and an average price target of $41.38.

Shares of DISCA stock opened at $25.30 on Wednesday. The stock has a market cap of $12.80 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.04 and a beta of 1.36. The business has a 50-day simple moving average of $28.01 and a 200-day simple moving average of $35.20. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 1.12. Discovery has a 52-week low of $19.07 and a 52-week high of $78.14.

Discovery (NASDAQ:DISCA) last issued its quarterly earnings data on Tuesday, August 3rd. The company reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.18. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Discovery had a return on equity of 14.23% and a net margin of 12.24%. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 EPS. Sell-side analysts anticipate that Discovery will post 2.35 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Discovery by 5.6% in the second quarter. Vanguard Group Inc. now owns 17,799,455 shares of the company’s stock valued at $546,086,000 after purchasing an additional 947,453 shares in the last quarter. BlackRock Inc. grew its position in shares of Discovery by 15.2% in the second quarter. BlackRock Inc. now owns 13,875,931 shares of the company’s stock valued at $425,714,000 after purchasing an additional 1,832,323 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Discovery by 39.8% in the first quarter. JPMorgan Chase & Co. now owns 11,813,710 shares of the company’s stock valued at $513,424,000 after purchasing an additional 3,363,999 shares in the last quarter. State Street Corp grew its position in shares of Discovery by 3.8% in the second quarter. State Street Corp now owns 7,768,918 shares of the company’s stock valued at $238,350,000 after purchasing an additional 282,200 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Discovery by 29.2% in the second quarter. Invesco Ltd. now owns 4,856,954 shares of the company’s stock valued at $149,012,000 after purchasing an additional 1,097,531 shares in the last quarter. Institutional investors and hedge funds own 33.56% of the company’s stock.

About Discovery

Discovery, Inc is a media company, which engages in the provision of content across distribution platforms and digital distribution arrangements. It operates through the following segments: U.S. Networks and International Networks. The U.S. Networks segment owns and operates national television networks such as Discovery Channel, Animal Planet, and Investigation Discovery and Science.

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