Discovery Communications, Inc. (DISCA) Price Target Cut to $18.00 by Analysts at Barclays PLC
Discovery Communications, Inc. (NASDAQ:DISCA) had its price objective lowered by Barclays PLC from $25.00 to $18.00 in a research report sent to investors on Friday. The brokerage currently has an underweight rating on the stock.
DISCA has been the topic of a number of other reports. Pivotal Research upgraded shares of Discovery Communications from a hold rating to a buy rating and set a $28.00 price target on the stock in a report on Tuesday, August 8th. MKM Partners reiterated a neutral rating and issued a $26.00 price target (down from $30.00) on shares of Discovery Communications in a report on Wednesday, August 2nd. UBS AG upgraded shares of Discovery Communications from a sell rating to a neutral rating and reduced their price target for the company from $25.00 to $23.00 in a report on Tuesday, September 26th. Royal Bank Of Canada reduced their price target on shares of Discovery Communications from $32.00 to $29.00 and set an outperform rating on the stock in a report on Thursday, August 17th. Finally, ValuEngine upgraded shares of Discovery Communications from a hold rating to a buy rating in a report on Wednesday. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. Discovery Communications has an average rating of Hold and a consensus target price of $26.57.
Discovery Communications (NASDAQ DISCA) traded down 0.21% on Friday, reaching $19.24. The company had a trading volume of 5,120,992 shares. The stock has a market capitalization of $10.97 billion, a PE ratio of 10.21 and a beta of 1.56. Discovery Communications has a 12-month low of $19.01 and a 12-month high of $30.25. The stock’s 50 day moving average price is $21.37 and its 200-day moving average price is $25.07.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings results on Monday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.04). The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.76 billion. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Equities analysts expect that Discovery Communications will post $2.22 earnings per share for the current fiscal year.
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In other news, CFO Gunnar Wiedenfels purchased 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were bought at an average cost of $23.01 per share, for a total transaction of $460,200.00. Following the acquisition, the chief financial officer now owns 20,000 shares of the company’s stock, valued at approximately $460,200. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul J. Guagliardo purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were purchased at an average price of $22.71 per share, for a total transaction of $227,100.00. Following the completion of the acquisition, the insider now directly owns 10,000 shares in the company, valued at approximately $227,100. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 55,000 shares of company stock worth $1,243,300. Insiders own 6.81% of the company’s stock.
A number of large investors have recently modified their holdings of DISCA. BlackRock Inc. grew its holdings in Discovery Communications by 2,394.5% during the 1st quarter. BlackRock Inc. now owns 9,346,002 shares of the company’s stock valued at $271,875,000 after purchasing an additional 8,971,338 shares during the last quarter. FMR LLC grew its holdings in Discovery Communications by 32.7% during the 2nd quarter. FMR LLC now owns 4,938,569 shares of the company’s stock valued at $127,563,000 after purchasing an additional 1,216,517 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Discovery Communications by 5.2% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 18,606,223 shares of the company’s stock valued at $480,599,000 after purchasing an additional 917,632 shares during the last quarter. Vanguard Group Inc. grew its holdings in Discovery Communications by 5.4% during the 2nd quarter. Vanguard Group Inc. now owns 16,661,316 shares of the company’s stock valued at $430,362,000 after purchasing an additional 858,015 shares during the last quarter. Finally, Bridgewater Associates LP bought a new position in Discovery Communications during the 2nd quarter valued at about $14,672,000. Institutional investors own 45.84% of the company’s stock.
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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