Discovery Communications Inc. (DISCA) Trading Down 0.9%
Discovery Communications Inc. (NASDAQ:DISCA)’s share price was down 0.9% during mid-day trading on Monday . The company traded as low as $25.29 and last traded at $25.38, with a volume of 3,070,455 shares traded. The stock had previously closed at $25.62.
A number of equities research analysts recently weighed in on DISCA shares. Zacks Investment Research raised Discovery Communications from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Tuesday, May 10th. Moffett Nathanson increased their price target on Discovery Communications to $29.00 in a research note on Tuesday, April 12th. FBR & Co increased their price target on Discovery Communications from $29.00 to $32.00 and gave the company a “mkt perform” rating in a research note on Monday, May 9th. MKM Partners increased their price target on Discovery Communications from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, May 6th. Finally, Citigroup Inc. cut Discovery Communications from a “neutral” rating to a “sell” rating and decreased their price target for the company from $30.00 to $27.00 in a research note on Wednesday, May 18th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $29.84.
The firm has a market cap of $10.82 billion and a P/E ratio of 15.53. The company’s 50 day moving average is $26.19 and its 200 day moving average is $26.96.
Discovery Communications (NASDAQ:DISCA) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.05. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.57 billion. Discovery Communications’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 EPS. On average, equities research analysts anticipate that Discovery Communications Inc. will post $1.90 EPS for the current year.
In related news, Director John C. Malone sold 183,637 shares of the stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $28.04, for a total value of $5,149,181.48. Following the transaction, the director now directly owns 11,763,240 shares of the company’s stock, valued at approximately $329,841,249.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John C. Malone sold 15,870 shares of the stock in a transaction on Wednesday, April 13th. The stock was sold at an average price of $28.00, for a total value of $444,360.00. Following the completion of the transaction, the director now directly owns 11,946,877 shares in the company, valued at $334,512,556. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Discovery Communications by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 12,660,326 shares of the company’s stock valued at $337,777,000 after buying an additional 572,799 shares during the period. State of Wisconsin Investment Board purchased a new position in shares of Discovery Communications during the fourth quarter valued at $7,885,000. Stevens Capital Management LP purchased a new position in shares of Discovery Communications during the fourth quarter valued at $5,737,000. Russell Frank Co raised its position in shares of Discovery Communications by 40.0% in the fourth quarter. Russell Frank Co now owns 524,935 shares of the company’s stock valued at $13,943,000 after buying an additional 150,105 shares during the period. Finally, Morgan Stanley raised its position in shares of Discovery Communications by 40.0% in the fourth quarter. Morgan Stanley now owns 401,244 shares of the company’s stock valued at $10,706,000 after buying an additional 114,644 shares during the period.
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 and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments are U.S.
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