Pivotal Research lowered shares of Discovery Communications (NASDAQ:DISCA) from a buy rating to a hold rating in a research note released on Tuesday, MarketBeat Ratings reports. The firm currently has $25.00 price objective on the stock, down from their prior price objective of $26.00.
A number of other research analysts also recently commented on DISCA. Sanford C. Bernstein reiterated an underperform rating on shares of Discovery Communications in a research report on Tuesday, September 12th. Credit Suisse Group upgraded Discovery Communications from an underperform rating to a neutral rating and lowered their target price for the company from $23.00 to $22.00 in a research report on Thursday, September 14th. UBS Group upgraded Discovery Communications from a sell rating to a neutral rating and lowered their target price for the company from $25.00 to $23.00 in a research report on Tuesday, September 26th. Zacks Investment Research lowered Discovery Communications from a hold rating to a sell rating in a report on Tuesday, October 3rd. Finally, ValuEngine upgraded Discovery Communications from a hold rating to a buy rating in a report on Wednesday, October 11th. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $24.17.
Discovery Communications (DISCA) traded up $0.32 during mid-day trading on Tuesday, reaching $24.33. The company’s stock had a trading volume of 4,081,954 shares, compared to its average volume of 6,308,615. Discovery Communications has a 1-year low of $15.99 and a 1-year high of $30.25. The company has a quick ratio of 5.87, a current ratio of 5.87 and a debt-to-equity ratio of 2.56. The company has a market cap of $9,101.09, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 1.20 and a beta of 1.55.
Discovery Communications (NASDAQ:DISCA) last posted its earnings results on Thursday, November 2nd. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.12). The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Discovery Communications had a net margin of 16.63% and a return on equity of 22.24%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 earnings per share. equities analysts predict that Discovery Communications will post 1.94 EPS for the current fiscal year.
In related news, insider Bruce Campbell sold 15,976 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $21.50, for a total transaction of $343,484.00. Following the sale, the insider now owns 85,298 shares of the company’s stock, valued at $1,833,907. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John C. Malone acquired 332,523 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were bought at an average cost of $19.72 per share, for a total transaction of $6,557,353.56. Following the transaction, the director now owns 671,095 shares of the company’s stock, valued at $13,233,993.40. The disclosure for this purchase can be found here. Insiders have bought a total of 527,523 shares of company stock worth $9,629,104 in the last three months. Corporate insiders own 6.81% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC boosted its position in Discovery Communications by 0.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 18,729,826 shares of the company’s stock valued at $398,758,000 after purchasing an additional 123,603 shares in the last quarter. Vanguard Group Inc. boosted its position in Discovery Communications by 5.4% during the second quarter. Vanguard Group Inc. now owns 16,661,316 shares of the company’s stock valued at $430,362,000 after purchasing an additional 858,015 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Discovery Communications by 12.2% during the third quarter. Bank of New York Mellon Corp now owns 11,966,987 shares of the company’s stock valued at $254,779,000 after purchasing an additional 1,297,175 shares in the last quarter. BlackRock Inc. boosted its position in Discovery Communications by 2.0% during the second quarter. BlackRock Inc. now owns 9,533,783 shares of the company’s stock valued at $246,259,000 after purchasing an additional 187,781 shares in the last quarter. Finally, State Street Corp boosted its position in Discovery Communications by 5.4% during the second quarter. State Street Corp now owns 7,346,135 shares of the company’s stock valued at $189,736,000 after purchasing an additional 376,975 shares in the last quarter. 48.12% of the stock is currently 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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