Discovery (NASDAQ:DISCA) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS


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Discovery (NASDAQ:DISCA) issued its quarterly earnings data on Sunday. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.04, MarketWatch Earnings reports. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.83 billion. Discovery had a net margin of 13.36% and a return on equity of 20.76%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 earnings per share.

Shares of NASDAQ:DISCA traded down $4.77 on Tuesday, hitting $50.52. The stock had a trading volume of 508,471 shares, compared to its average volume of 10,007,455. Discovery has a twelve month low of $17.12 and a twelve month high of $56.02. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.99 and a current ratio of 1.99. The firm’s 50 day moving average price is $40.63 and its 200-day moving average price is $28.07. The company has a market capitalization of $24.81 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 0.88 and a beta of 1.53.

DISCA has been the topic of a number of recent analyst reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on shares of Discovery from $28.00 to $36.00 in a research report on Wednesday, January 6th. Wells Fargo & Company lifted their price target on shares of Discovery from $42.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday. They noted that the move was a valuation call. Barclays raised their price objective on shares of Discovery from $29.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday. Citigroup downgraded shares of Discovery from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $36.00 to $46.00 in a research note on Monday, February 1st. Finally, Credit Suisse Group raised their price objective on shares of Discovery from $41.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $36.33.

In related news, Director John C. Malone sold 550,000 shares of Discovery stock in a transaction dated Thursday, December 3rd. The stock was sold at an average price of $28.61, for a total value of $15,735,500.00. Following the completion of the transaction, the director now directly owns 787,359 shares of the company’s stock, valued at $22,526,340.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.88% of the stock is currently owned by insiders.

About Discovery

Discovery, Inc operates as a media company in the United States and internationally. The company operates in two segments, U.S. Networks and International Networks. The company owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, MotorTrend, Food Network, HGTV, Travel Channel, TVN, DIY Network, Cooking Channel, Discovery Family Channel, American Heroes Channel, Destination America, Discovery Life, Discovery en Espanol, Discovery Familia, Great American Country, ID, the Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.

Further Reading: Rule of 72

Earnings History for Discovery (NASDAQ:DISCA)

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