ValuEngine upgraded shares of Discovery Communications, Inc. (NASDAQ:DISCK) from a hold rating to a buy rating in a research report released on Tuesday morning.
A number of other research analysts have also recently issued reports on the company. Zacks Investment Research raised Discovery Communications from a hold rating to a buy rating and set a $29.00 price objective for the company in a report on Thursday, July 20th. BidaskClub cut Discovery Communications from a hold rating to a sell rating in a report on Thursday, July 27th. Finally, Barrington Research reissued a market perform rating on shares of Discovery Communications in a report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $29.00.
Shares of Discovery Communications (DISCK) opened at 19.40 on Tuesday. Discovery Communications has a 12-month low of $19.10 and a 12-month high of $29.18. The firm has a market cap of $11.06 billion, a PE ratio of 10.29 and a beta of 1.43. The company has a 50 day moving average of $20.45 and a 200-day moving average of $24.32.
Discovery Communications (NASDAQ:DISCK) last posted its quarterly earnings results on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.04). The business had revenue of $1.75 billion for the quarter. Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. Equities research analysts forecast that Discovery Communications will post $2.24 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently modified their holdings of DISCK. UBS Asset Management Americas Inc. lifted its holdings in shares of Discovery Communications by 14.2% during the first quarter. UBS Asset Management Americas Inc. now owns 631,582 shares of the company’s stock valued at $17,880,000 after acquiring an additional 78,379 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Discovery Communications by 21.0% during the first quarter. Alliancebernstein L.P. now owns 497,686 shares of the company’s stock valued at $14,089,000 after acquiring an additional 86,523 shares during the period. OppenheimerFunds Inc. lifted its holdings in shares of Discovery Communications by 11.4% during the first quarter. OppenheimerFunds Inc. now owns 14,592 shares of the company’s stock valued at $413,000 after acquiring an additional 1,491 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Discovery Communications by 2.0% during the first quarter. Principal Financial Group Inc. now owns 348,384 shares of the company’s stock valued at $9,863,000 after acquiring an additional 6,925 shares during the period. Finally, FMR LLC lifted its holdings in shares of Discovery Communications by 55.4% during the first quarter. FMR LLC now owns 662,747 shares of the company’s stock valued at $18,763,000 after acquiring an additional 236,392 shares during the period. 45.29% of the stock is owned by institutional investors.
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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