Discovery Communications (NASDAQ:DISCA) Rating Increased to Buy at BidaskClub

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.

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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.

Analyst Recommendations for Discovery Communications (NASDAQ:DISCA)

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