Discovery Communications, Inc. (NASDAQ:DISCA) Downgraded to “Sell” at BidaskClub
BidaskClub downgraded shares of Discovery Communications, Inc. (NASDAQ:DISCA) from a hold rating to a sell rating in a research report sent to investors on Friday morning.
Several other equities analysts also recently weighed in on DISCA. Royal Bank Of Canada set a $32.00 price target on Discovery Communications and gave the company a buy rating in a report on Monday, June 12th. ValuEngine downgraded Discovery Communications from a buy rating to a hold rating in a report on Friday, June 2nd. Cowen and Company reiterated a hold rating and issued a $29.00 price objective on shares of Discovery Communications in a report on Tuesday, July 11th. Credit Suisse Group reiterated an underperform rating and issued a $24.00 price objective on shares of Discovery Communications in a report on Saturday, July 22nd. Finally, Wells Fargo & Company assumed coverage on Discovery Communications in a report on Thursday, July 20th. They issued a market perform rating and a $28.00 price objective for the company. Six research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company. Discovery Communications presently has an average rating of Hold and a consensus price target of $28.56.
Discovery Communications (DISCA) traded down 1.10% during mid-day trading on Friday, hitting $24.33. 1,876,313 shares of the stock traded hands. Discovery Communications has a 52-week low of $23.95 and a 52-week high of $30.25. The firm has a market cap of $10.78 billion, a P/E ratio of 12.72 and a beta of 1.60. The firm’s 50-day moving average is $26.17 and its 200 day moving average is $27.38.
Discovery Communications (NASDAQ:DISCA) last issued its quarterly earnings results on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.72 by $0.04. Discovery Communications had a net margin of 17.50% and a return on equity of 23.67%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the business earned $0.71 earnings per share. Discovery Communications’s revenue was up 2.2% compared to the same quarter last year. Equities analysts predict that Discovery Communications will post $2.24 EPS for the current fiscal year.
In other news, insider Bruce Campbell sold 9,283 shares of Discovery Communications stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $26.43, for a total transaction of $245,349.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul A. Gould sold 8,832 shares of Discovery Communications 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 transaction, the director now directly owns 188,676 shares in the company, valued at $4,901,802.48. The disclosure for this sale can be found here. Insiders own 5.78% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Retirement Systems of Alabama boosted its position in Discovery Communications by 1.1% in the second quarter. Retirement Systems of Alabama now owns 74,557 shares of the company’s stock worth $1,926,000 after buying an additional 775 shares during the last quarter. ARP Americas LLC boosted its position in Discovery Communications by 17.4% in the second quarter. ARP Americas LLC now owns 10,700 shares of the company’s stock worth $276,000 after buying an additional 1,584 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in Discovery Communications by 79.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 13,745 shares of the company’s stock worth $355,000 after buying an additional 6,066 shares during the last quarter. CIBC Asset Management Inc boosted its position in Discovery Communications by 1.9% in the second quarter. CIBC Asset Management Inc now owns 35,119 shares of the company’s stock worth $907,000 after buying an additional 664 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Discovery Communications by 11.0% in the second quarter. Janney Montgomery Scott LLC now owns 61,459 shares of the company’s stock worth $1,587,000 after buying an additional 6,106 shares during the last quarter. 44.26% of the stock is currently owned by hedge funds and other institutional investors.
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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