Discovery Communications, Inc. (DISCA) Sets New 12-Month Low at $21.69
Discovery Communications, Inc. (NASDAQ:DISCA) hit a new 52-week low on Tuesday . The company traded as low as $21.69 and last traded at $21.68, with a volume of 1,177,488 shares trading hands. The stock had previously closed at $22.16.
Several equities research analysts recently commented on the stock. Wells Fargo & Company assumed coverage on shares of Discovery Communications in a research note on Thursday, July 20th. They set a “market perform” rating and a $28.00 price objective on the stock. ValuEngine lowered shares of Discovery Communications from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Royal Bank Of Canada set a $32.00 price objective on shares of Discovery Communications and gave the stock a “buy” rating in a research note on Monday, June 12th. Credit Suisse Group reissued an “underperform” rating and set a $24.00 price objective on shares of Discovery Communications in a research note on Saturday, July 22nd. Finally, BidaskClub raised shares of Discovery Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $27.27.
The firm’s 50-day moving average is $23.82 and its 200-day moving average is $26.41. The company has a market capitalization of $12.46 billion, a PE ratio of 11.60 and a beta of 1.59.
Discovery Communications (NASDAQ:DISCA) last posted its quarterly earnings data on Monday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by $0.04. Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Discovery Communications’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts anticipate that Discovery Communications, Inc. will post $2.24 EPS for the current fiscal year.
In other news, insider Bruce Campbell sold 9,283 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $26.43, for a total value of $245,349.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gunnar Wiedenfels purchased 20,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was purchased at an average price of $23.01 per share, with a total value of $460,200.00. Following the completion of the acquisition, the chief financial officer now directly owns 20,000 shares in the company, valued at approximately $460,200. The disclosure for this purchase can be found here. Insiders have acquired a total of 55,000 shares of company stock worth $1,243,300 over the last 90 days. 6.81% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its holdings in shares of Discovery Communications by 437.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock valued at $102,000 after acquiring an additional 3,230 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Discovery Communications by 5.8% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 3,915 shares of the company’s stock valued at $106,000 after acquiring an additional 215 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Discovery Communications by 24.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 4,540 shares of the company’s stock valued at $132,000 after acquiring an additional 900 shares during the last quarter. Ballentine Partners LLC bought a new stake in shares of Discovery Communications in the 2nd quarter valued at approximately $133,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Discovery Communications in the 1st quarter valued at approximately $134,000. Institutional investors and hedge funds own 45.85% of the company’s stock.
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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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