Deutsche Bank AG Reaffirms “Hold” Rating for Discovery Communications, Inc. (NASDAQ:DISCA)
Deutsche Bank AG reiterated their hold rating on shares of Discovery Communications, Inc. (NASDAQ:DISCA) in a research note published on Friday. Deutsche Bank AG currently has a $30.00 price target on the stock, down from their previous price target of $32.00.
Several other brokerages also recently issued reports on DISCA. FBR & Co restated a hold rating and issued a $30.00 price objective on shares of Discovery Communications in a research report on Friday, April 7th. Pivotal Research restated a hold rating and issued a $28.00 price objective (up from $27.00) on shares of Discovery Communications in a research report on Sunday, April 23rd. TheStreet upgraded Discovery Communications from a c+ rating to a b- rating in a research report on Thursday, April 20th. Citigroup Inc upgraded Discovery Communications from a sell rating to a neutral rating in a research report on Thursday, April 20th. Finally, Zacks Investment Research downgraded Discovery Communications from a hold rating to a sell rating in a research report on Tuesday, April 18th. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has assigned a buy rating to the stock. Discovery Communications presently has an average rating of Hold and a consensus price target of $28.63.
Shares of Discovery Communications (DISCA) traded down 1.33% on Friday, reaching $26.05. The company’s stock had a trading volume of 1,938,497 shares. Discovery Communications has a 1-year low of $23.95 and a 1-year high of $30.25. The stock has a market capitalization of $11.54 billion, a P/E ratio of 13.62 and a beta of 1.60. The company has a 50 day moving average of $26.04 and a 200 day moving average of $27.64.
Discovery Communications (NASDAQ:DISCA) last posted its earnings results on Tuesday, May 9th. The company reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.08. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Discovery Communications had a return on equity of 23.67% and a net margin of 17.50%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Equities research analysts expect that Discovery Communications will post $2.26 earnings per share for the current fiscal year.
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In other news, insider Bruce Campbell sold 9,283 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $26.43, for a total value of $245,349.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul A. Gould sold 8,832 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $25.98, for a total value of $229,455.36. Following the completion of the sale, the director now owns 188,676 shares of the company’s stock, valued at approximately $4,901,802.48. The disclosure for this sale can be found here. Corporate insiders own 5.78% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Clearbridge Investments LLC raised its stake in shares of Discovery Communications by 2.3% in the first quarter. Clearbridge Investments LLC now owns 17,843,671 shares of the company’s stock worth $519,072,000 after buying an additional 399,171 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Discovery Communications by 2.4% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 17,688,591 shares of the company’s stock worth $514,561,000 after buying an additional 406,646 shares during the period. Vanguard Group Inc. raised its stake in shares of Discovery Communications by 5.4% in the first quarter. Vanguard Group Inc. now owns 15,803,301 shares of the company’s stock worth $459,718,000 after buying an additional 803,848 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Discovery Communications by 20.3% in the first quarter. Bank of New York Mellon Corp now owns 10,967,133 shares of the company’s stock worth $319,034,000 after buying an additional 1,848,329 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Discovery Communications by 2,394.5% in the first quarter. BlackRock Inc. now owns 9,346,002 shares of the company’s stock worth $271,875,000 after buying an additional 8,971,338 shares during the period. Institutional investors and hedge funds own 44.21% 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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