Discovery Communications (NASDAQ:DISCA) Stock Price Down 6.8%

Discovery Communications Inc. (NASDAQ:DISCA) fell 6.8% during mid-day trading on Wednesday . The stock traded as low as $27.36 and last traded at $27.60, 4,855,371 shares changed hands during mid-day trading. An increase of 21% from the average session volume of 4,015,614 shares. The stock had previously closed at $29.60.

Several brokerages have issued reports on DISCA. BidaskClub downgraded shares of Discovery Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Imperial Capital raised their price objective on shares of Discovery Communications from $29.00 to $30.00 and gave the stock an “in-line” rating in a research note on Monday, June 24th. Wolfe Research downgraded shares of Discovery Communications from an “outperform” rating to a “peer perform” rating in a research note on Thursday, May 30th. Finally, ValuEngine downgraded shares of Discovery Communications from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $33.89.

The company has a market capitalization of $15.54 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 0.41 and a beta of 1.53. The firm has a 50-day moving average of $30.73. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 1.27.

Discovery Communications (NASDAQ:DISCA) last issued its earnings results on Tuesday, August 6th. The company reported $0.98 EPS for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($0.01). The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Discovery Communications had a return on equity of 21.53% and a net margin of 15.62%. The business’s revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business posted $0.77 earnings per share. Analysts forecast that Discovery Communications Inc. will post 3.76 earnings per share for the current year.

In other Discovery Communications news, CEO Peter Faricy acquired 35,900 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average cost of $27.91 per share, with a total value of $1,001,969.00. Following the completion of the acquisition, the chief executive officer now directly owns 182,367 shares in the company, valued at approximately $5,089,862.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bruce Campbell sold 10,000 shares of Discovery Communications stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $28.89, for a total transaction of $288,900.00. The disclosure for this sale can be found here. Company insiders own 4.43% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in DISCA. Vanguard Group Inc. boosted its stake in Discovery Communications by 12.4% in the second quarter. Vanguard Group Inc. now owns 19,303,196 shares of the company’s stock valued at $592,608,000 after acquiring an additional 2,134,191 shares in the last quarter. Rothschild & Co. Asset Management US Inc. acquired a new stake in shares of Discovery Communications during the second quarter worth $51,543,000. JPMorgan Chase & Co. lifted its stake in shares of Discovery Communications by 17.4% during the first quarter. JPMorgan Chase & Co. now owns 10,743,754 shares of the company’s stock worth $290,295,000 after buying an additional 1,595,179 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Discovery Communications by 62.7% during the second quarter. Wells Fargo & Company MN now owns 3,453,246 shares of the company’s stock worth $106,015,000 after buying an additional 1,330,279 shares during the period. Finally, Goldentree Asset Management LP acquired a new stake in shares of Discovery Communications during the second quarter worth $36,919,000. Institutional investors own 35.17% of the company’s stock.

About Discovery Communications (NASDAQ:DISCA)

Discovery, Inc operates as a media company worldwide. The company operates through two segments, U.S. Networks and International Networks. The company owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, MotorTrend, Food Network, HGTV, Travel Channel, TVN, DIY Network, Cooking Channel, Discovery Family Channel, American Heroes Channel, Destination America, Discovery Life, Discovery en Espanol, Discovery Familia, Great American Country, the Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.

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