Discovery Communications (DISCA) Price Target Raised to $29.00
Discovery Communications (NASDAQ:DISCA) had its price target lifted by equities research analysts at Royal Bank of Canada to $29.00 in a report released on Thursday, The Fly reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 17.41% from the stock’s previous close.
Several other brokerages have also recently weighed in on DISCA. BidaskClub raised Discovery Communications from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Wells Fargo & Co restated a “market perform” rating and issued a $25.00 price target (up previously from $18.00) on shares of Discovery Communications in a research note on Thursday, January 4th. ValuEngine cut Discovery Communications from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Macquarie upgraded Discovery Communications from a “neutral” rating to an “outperform” rating and set a $26.00 price target on the stock in a research note on Tuesday, January 2nd. Finally, Barrington Research upgraded Discovery Communications from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Tuesday, January 2nd. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $24.44.
Discovery Communications (DISCA) traded up $0.17 during trading on Thursday, hitting $24.70. The company had a trading volume of 5,115,900 shares, compared to its average volume of 6,247,254. The company has a debt-to-equity ratio of 2.56, a current ratio of 5.87 and a quick ratio of 5.87. Discovery Communications has a fifty-two week low of $15.99 and a fifty-two week high of $30.25. The company has a market capitalization of $9,100.00, a PE ratio of 19.45, a price-to-earnings-growth ratio of 1.23 and a beta of 1.56.
In other news, insider Bruce Campbell sold 15,976 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $21.50, for a total transaction of $343,484.00. Following the sale, the insider now directly owns 85,298 shares of the company’s stock, valued at approximately $1,833,907. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 bought at an average cost of $15.45 per share, for a total transaction of $231,750.00. Following the completion of the acquisition, the chief financial officer now owns 50,000 shares in the company, valued at approximately $772,500. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 527,523 shares of company stock worth $9,629,104. 6.81% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its stake in Discovery Communications by 437.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock valued at $102,000 after buying an additional 3,230 shares in the last quarter. Advisor Group Inc. boosted its stake in Discovery Communications by 27.7% in the second quarter. Advisor Group Inc. now owns 9,100 shares of the company’s stock valued at $235,000 after buying an additional 1,975 shares in the last quarter. Flossbach Von Storch AG acquired a new stake in Discovery Communications in the third quarter valued at about $208,000. QCM Cayman Ltd. boosted its stake in Discovery Communications by 38.6% in the second quarter. QCM Cayman Ltd. now owns 10,350 shares of the company’s stock valued at $267,000 after buying an additional 2,885 shares in the last quarter. Finally, OLD National Bancorp IN acquired a new stake in Discovery Communications in the third quarter valued at about $222,000. 48.13% of the stock is currently owned by institutional investors and hedge funds.
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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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