Discovery Communications, Inc. (DISCA) Sets New 52-Week Low at $21.69
Discovery Communications, Inc. (NASDAQ:DISCA) hit a new 52-week low during trading on Tuesday . The stock traded as low as $21.69 and last traded at $21.68, with a volume of 1,177,488 shares. The stock had previously closed at $22.16.
DISCA has been the topic of several recent analyst reports. Jefferies Group LLC reissued a “hold” rating on shares of Discovery Communications in a report on Friday, May 12th. TheStreet lowered shares of Discovery Communications from a “b-” rating to a “c+” rating in a research report on Thursday, May 18th. ValuEngine lowered shares of Discovery Communications from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Moffett Nathanson restated a “sell” rating on shares of Discovery Communications in a research report on Friday, June 9th. Finally, Royal Bank Of Canada set a $32.00 price target on shares of Discovery Communications and gave the stock a “buy” rating in a research report on Monday, June 12th. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $27.27.
The company has a market cap of $12.30 billion, a price-to-earnings ratio of 11.45 and a beta of 1.59. The company’s 50-day moving average is $24.14 and its 200-day moving average is $26.54.
Discovery Communications (NASDAQ:DISCA) last posted its earnings results on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.04. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.76 billion. Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $0.71 earnings per share. On average, equities analysts predict that Discovery Communications, Inc. will post $2.24 earnings per share for the current year.
In other Discovery Communications news, insider Bruce Campbell sold 9,283 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $26.43, for a total value of $245,349.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul J. Guagliardo purchased 10,000 shares of the business’s stock in a transaction on Friday, August 18th. The stock was purchased at an average price of $22.71 per share, with a total value of $227,100.00. Following the purchase, the insider now owns 10,000 shares of the company’s stock, valued at $227,100. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 55,000 shares of company stock valued at $1,243,300. 6.81% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in DISCA. Tower Research Capital LLC TRC increased its holdings in Discovery Communications by 437.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock worth $102,000 after buying an additional 3,230 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its holdings in Discovery Communications by 5.8% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 3,915 shares of the company’s stock valued at $106,000 after buying an additional 215 shares during the period. Daiwa Securities Group Inc. raised its holdings in Discovery Communications by 24.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,540 shares of the company’s stock valued at $132,000 after buying an additional 900 shares during the period. Ballentine Partners LLC purchased a new stake in Discovery Communications during the 2nd quarter valued at $133,000. Finally, Acadian Asset Management LLC purchased a new stake in Discovery Communications during the 1st quarter valued at $134,000. Hedge funds and other institutional investors own 45.85% of the company’s stock.
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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.
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