MKM Partners Reaffirms “Neutral” Rating for Discovery Communications, Inc. (NASDAQ:DISCA)
MKM Partners reissued their neutral rating on shares of Discovery Communications, Inc. (NASDAQ:DISCA) in a research report released on Wednesday. The firm currently has a $26.00 price target on the stock, down from their previous price target of $30.00.
Several other analysts also recently weighed in on the stock. BidaskClub downgraded shares of Discovery Communications from a hold rating to a sell rating in a research report on Friday, June 23rd. Pivotal Research restated a hold rating and set a $28.00 price objective (up from $27.00) on shares of Discovery Communications in a research note on Sunday, April 23rd. Citigroup Inc. upgraded shares of Discovery Communications from a sell rating to a neutral rating in a research note on Thursday, April 20th. Zacks Investment Research cut shares of Discovery Communications from a hold rating to a sell rating in a research note on Tuesday, April 18th. Finally, Jefferies Group LLC restated a hold rating on shares of Discovery Communications in a research note on Friday, May 12th. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. Discovery Communications presently has a consensus rating of Hold and an average price target of $28.44.
Shares of Discovery Communications (NASDAQ:DISCA) traded down 4.08% on Wednesday, reaching $23.73. 7,408,527 shares of the company were exchanged. The stock has a market capitalization of $13.53 billion, a price-to-earnings ratio of 12.59 and a beta of 1.59. Discovery Communications has a 52 week low of $23.68 and a 52 week high of $30.25. The firm’s 50 day moving average price is $26.10 and its 200 day moving average price is $27.36.
Discovery Communications (NASDAQ:DISCA) last released its earnings results on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.72 by $0.04. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 EPS. Equities research analysts anticipate that Discovery Communications will post $2.23 EPS for the current year.
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In other news, CFO Gunnar Wiedenfels bought 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average cost of $23.01 per share, for a total transaction of $460,200.00. Following the purchase, the chief financial officer now directly owns 20,000 shares in the company, valued at approximately $460,200. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Bruce Campbell sold 9,283 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $26.43, for a total transaction of $245,349.69. The disclosure for this sale can be found here. Insiders own 5.78% of the company’s stock.
Large investors have recently modified their holdings of the company. Highland Capital Management LLC bought a new stake in shares of Discovery Communications during the first quarter valued at approximately $4,897,000. Laurel Grove Capital LLC raised its stake in shares of Discovery Communications by 1.6% in the first quarter. Laurel Grove Capital LLC now owns 31,950 shares of the company’s stock valued at $929,000 after buying an additional 500 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in shares of Discovery Communications by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 49,167 shares of the company’s stock valued at $1,430,000 after buying an additional 600 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of Discovery Communications during the first quarter valued at approximately $266,000. Finally, New England Research & Management Inc. raised its stake in shares of Discovery Communications by 84.1% in the first quarter. New England Research & Management Inc. now owns 20,890 shares of the company’s stock valued at $608,000 after buying an additional 9,540 shares during the last quarter. 44.26% of the stock is owned by institutional investors.
Discovery Communications Company Profile
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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