BidaskClub upgraded shares of Discovery Communications (NASDAQ:DISCA) from a hold rating to a buy rating in a research note published on Wednesday, December 27th.
A number of other research firms have also recently issued reports on DISCA. Bank of America upgraded Discovery Communications from a neutral rating to a buy rating and set a $30.00 price objective for the company in a report on Thursday, December 21st. Deutsche Bank dropped their price objective on Discovery Communications from $26.00 to $21.00 and set a hold rating for the company in a report on Thursday, November 30th. Royal Bank of Canada restated an outperform rating and set a $24.00 price objective (down previously from $29.00) on shares of Discovery Communications in a report on Friday, November 3rd. Barclays dropped their price objective on Discovery Communications from $25.00 to $18.00 and set an underweight rating for the company in a report on Friday, October 13th. Finally, ValuEngine upgraded Discovery Communications from a hold rating to a buy rating in a report on Wednesday, October 11th. Four investment 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. The company presently has an average rating of Hold and an average price target of $24.17.
Shares of Discovery Communications (DISCA) opened at $24.33 on Wednesday. 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 has a 12 month low of $15.99 and a 12 month high of $30.25. The stock has a market capitalization of $8,960.00, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 1.20 and a beta of 1.56.
Discovery Communications (NASDAQ:DISCA) last released its earnings results on Thursday, November 2nd. The company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.12). The company 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 business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 EPS. sell-side analysts expect that Discovery Communications will post 1.94 earnings per share for the current year.
In other Discovery Communications news, Director J David Wargo bought 100,000 shares of Discovery Communications stock in a transaction that occurred on Monday, November 6th. The shares were bought at an average cost of $15.76 per share, with a total value of $1,576,000.00. Following the transaction, the director now directly owns 147,591 shares of the company’s stock, valued at approximately $2,326,034.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruce Campbell sold 15,976 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $21.50, for a total value of $343,484.00. Following the transaction, the insider now directly owns 85,298 shares in the company, valued at $1,833,907. The disclosure for this sale can be found here. Over the last three months, insiders bought 527,523 shares of company stock valued at $9,629,104. Corporate insiders own 6.81% of the company’s stock.
A number of large investors have recently made changes to their positions in DISCA. Beach Investment Management LLC. acquired a new position in shares of Discovery Communications in the second quarter valued at about $254,000. Schwab Charles Investment Management Inc. increased its holdings in shares of Discovery Communications by 17.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 563,742 shares of the company’s stock valued at $14,562,000 after purchasing an additional 82,427 shares during the period. Arizona State Retirement System increased its holdings in shares of Discovery Communications by 0.8% in the second quarter. Arizona State Retirement System now owns 38,100 shares of the company’s stock valued at $984,000 after purchasing an additional 300 shares during the period. Legal & General Group Plc increased its holdings in shares of Discovery Communications by 18.4% in the second quarter. Legal & General Group Plc now owns 851,984 shares of the company’s stock valued at $22,006,000 after purchasing an additional 132,632 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Discovery Communications by 7.6% in the second quarter. Jennison Associates LLC now owns 25,051 shares of the company’s stock valued at $647,000 after purchasing an additional 1,775 shares during the period. 48.12% of the stock is currently owned by institutional investors.
WARNING: This news story was originally posted by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this news story on another publication, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this news story can be read at https://www.thelincolnianonline.com/2018/01/14/discovery-communications-disca-raised-to-buy-at-bidaskclub-updated-updated.html.
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.
Receive News & Ratings for Discovery Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discovery Communications and related companies with MarketBeat.com's FREE daily email newsletter.