Discovery Communications, Inc. (DISCA) Expected to Post Quarterly Sales of $1.64 Billion
Wall Street brokerages expect Discovery Communications, Inc. (NASDAQ:DISCA) to post sales of $1.64 billion for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Discovery Communications’ earnings, with the highest sales estimate coming in at $1.67 billion and the lowest estimate coming in at $1.62 billion. Discovery Communications reported sales of $1.56 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 5.1%. The business is scheduled to issue its next quarterly earnings report before the market opens on Thursday, November 2nd.
According to Zacks, analysts expect that Discovery Communications will report full-year sales of $1.64 billion for the current year, with estimates ranging from $6.71 billion to $6.81 billion. For the next year, analysts anticipate that the firm will post sales of $7.27 billion per share, with estimates ranging from $7.13 billion to $7.42 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Discovery Communications.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings data on Monday, July 31st. The company reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.04). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.76 billion. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. Discovery Communications’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 EPS.
A number of analysts have recently weighed in on DISCA shares. Piper Jaffray Companies started coverage on shares of Discovery Communications in a research note on Friday, August 11th. They issued a “neutral” rating and a $27.00 price target for the company. Cowen and Company reaffirmed a “hold” rating and issued a $25.00 price target on shares of Discovery Communications in a research note on Friday, September 8th. Zacks Investment Research lowered shares of Discovery Communications from a “hold” rating to a “sell” rating in a research note on Tuesday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $28.00 price target on shares of Discovery Communications in a research note on Friday, June 16th. Finally, BidaskClub raised shares of Discovery Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $27.07.
Shares of Discovery Communications (NASDAQ:DISCA) traded down 0.90% on Monday, reaching $21.52. 3,159,065 shares of the company’s stock were exchanged. Discovery Communications has a 1-year low of $20.14 and a 1-year high of $30.25. The stock’s 50-day moving average price is $21.78 and its 200-day moving average price is $25.42. The company has a market capitalization of $12.27 billion, a P/E ratio of 11.42 and a beta of 1.56.
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In other news, Director S Decker Anstrom purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were acquired at an average price of $23.05 per share, for a total transaction of $230,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gunnar Wiedenfels purchased 15,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were purchased at an average price of $21.70 per share, for a total transaction of $325,500.00. Following the acquisition, the chief financial officer now directly owns 35,000 shares of the company’s stock, valued at $759,500. The disclosure for this purchase can be found here. Insiders have bought 55,000 shares of company stock worth $1,243,300 in the last 90 days. 6.81% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its stake in 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 buying an additional 3,230 shares during the period. Ballentine Partners LLC acquired a new position in shares of Discovery Communications during the 2nd quarter worth $133,000. Ameritas Investment Partners Inc. acquired a new position in shares of Discovery Communications during the 1st quarter worth $182,000. Horizon Investment Services LLC acquired a new position in shares of Discovery Communications during the 1st quarter worth $202,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of Discovery Communications by 112.1% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,000 shares of the company’s stock worth $204,000 after purchasing an additional 3,700 shares during the last quarter. Hedge funds and other 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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