Discovery Communications (DISCA) Given New $21.00 Price Target at Deutsche Bank
DISCA has been the topic of a number of other reports. Royal Bank Of Canada reaffirmed an outperform rating and issued a $24.00 price target (down from $29.00) on shares of Discovery Communications in a research note on Friday, November 3rd. Pivotal Research raised Discovery Communications from a hold rating to a buy rating and set a $28.00 price target on the stock in a research note on Tuesday, August 8th. MKM Partners reaffirmed a neutral rating and issued a $26.00 price target (down from $30.00) on shares of Discovery Communications in a research note on Wednesday, August 2nd. UBS raised Discovery Communications from a sell rating to a neutral rating and decreased their price target for the stock from $25.00 to $23.00 in a research note on Tuesday, September 26th. Finally, Jefferies Group decreased their price target on Discovery Communications from $27.00 to $20.00 and set a hold rating on the stock in a research note on Friday, November 3rd. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. Discovery Communications has a consensus rating of Hold and a consensus price target of $23.67.
Shares of Discovery Communications (NASDAQ DISCA) traded up $0.44 during trading on Thursday, reaching $19.46. The company’s stock had a trading volume of 11,037,662 shares, compared to its average volume of 3,809,814. The company has a quick ratio of 5.87, a current ratio of 5.87 and a debt-to-equity ratio of 2.56. The stock has a market cap of $7,170.00, a PE ratio of 8.64, a P/E/G ratio of 0.98 and a beta of 1.57. Discovery Communications has a 1-year low of $15.99 and a 1-year high of $30.25.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.12). The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Discovery Communications had a return on equity of 22.24% and a net margin of 16.63%. Discovery Communications’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. sell-side analysts forecast that Discovery Communications will post 2.02 earnings per share for the current year.
In other Discovery Communications news, Director J David Wargo bought 80,000 shares of Discovery Communications stock in a transaction dated Friday, November 3rd. The shares were purchased at an average cost of $15.80 per share, with a total value of $1,264,000.00. Following the completion of the purchase, the director now owns 147,591 shares of the company’s stock, valued at $2,331,937.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Gunnar Wiedenfels bought 15,000 shares of Discovery Communications stock in a transaction dated Friday, November 3rd. The shares were acquired at an average cost of $15.45 per share, for a total transaction of $231,750.00. Following the completion of the purchase, the chief financial officer now directly owns 50,000 shares of the company’s stock, valued at approximately $772,500. The disclosure for this purchase can be found here. Insiders have bought 195,000 shares of company stock worth $3,071,750 over the last three months. Insiders own 6.81% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its position in shares of Discovery Communications by 437.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock valued at $102,000 after purchasing an additional 3,230 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of Discovery Communications during the second quarter valued at approximately $133,000. Montag A & Associates Inc. bought a new stake in shares of Discovery Communications during the second quarter valued at approximately $209,000. MUFG Americas Holdings Corp boosted its position in shares of Discovery Communications by 13.9% during the second quarter. MUFG Americas Holdings Corp now owns 8,997 shares of the company’s stock valued at $232,000 after purchasing an additional 1,100 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its position in shares of Discovery Communications by 5.6% during the second quarter. LS Investment Advisors LLC now owns 9,084 shares of the company’s stock valued at $235,000 after purchasing an additional 484 shares in the last quarter. Institutional investors own 48.25% of the company’s stock.
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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