Discovery Communications, Inc. (NASDAQ:DISCA)‘s stock had its “underperform” rating reissued by equities researchers at Credit Suisse Group in a research report issued to clients and investors on Saturday, July 22nd. They presently have a $24.00 target price on the stock. Credit Suisse Group’s target price points to a potential upside of 4.76% from the company’s previous close.
Several other equities research analysts have also recently issued reports on DISCA. Royal Bank Of Canada set a $32.00 price objective on shares of Discovery Communications and gave the stock a “buy” rating in a research report on Monday, June 12th. ValuEngine cut shares of Discovery Communications from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Cowen and Company restated a “hold” rating and set a $29.00 price objective on shares of Discovery Communications in a research report on Tuesday, July 11th. FBR & Co restated a “hold” rating and set a $30.00 price objective on shares of Discovery Communications in a research report on Friday, April 7th. Finally, TheStreet upgraded shares of Discovery Communications from a “c+” rating to a “b-” rating in a research report on Thursday, April 20th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $28.25.
Shares of Discovery Communications (NASDAQ:DISCA) opened at 22.91 on Friday. The firm has a 50-day moving average of $25.61 and a 200-day moving average of $27.14. The company has a market capitalization of $13.06 billion, a P/E ratio of 12.15 and a beta of 1.59. Discovery Communications has a one year low of $22.82 and a one year high of $30.25.
Discovery Communications (NASDAQ:DISCA) last issued its earnings results on Monday, July 31st. The company reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.04. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.76 billion. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. Discovery Communications’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.71 earnings per share. Analysts forecast that Discovery Communications will post $2.24 earnings per share for the current year.
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In related news, CFO Gunnar Wiedenfels acquired 20,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were bought at an average price of $23.01 per share, with a total value of $460,200.00. Following the completion of the acquisition, the chief financial officer now owns 20,000 shares in the company, valued at $460,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bruce Campbell sold 9,283 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $26.43, for a total transaction of $245,349.69. The disclosure for this sale can be found here. 5.78% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Discovery Communications by 5.2% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 18,606,223 shares of the company’s stock worth $480,599,000 after buying an additional 917,632 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Discovery Communications by 2.3% in the first quarter. Clearbridge Investments LLC now owns 17,843,671 shares of the company’s stock worth $519,072,000 after buying an additional 399,171 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Discovery Communications by 5.4% in the second quarter. Vanguard Group Inc. now owns 16,661,316 shares of the company’s stock worth $430,362,000 after buying an additional 858,015 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Discovery Communications by 20.3% in the first quarter. Bank of New York Mellon Corp now owns 10,967,133 shares of the company’s stock worth $319,034,000 after buying an additional 1,848,329 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of Discovery Communications by 2.0% in the second quarter. BlackRock Inc. now owns 9,533,783 shares of the company’s stock worth $246,259,000 after buying an additional 187,781 shares during the last quarter. 44.31% of the stock is currently owned by institutional investors and hedge funds.
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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