Discovery Communications, Inc. (NASDAQ:DISCA) had its price objective cut by investment analysts at Royal Bank Of Canada from $32.00 to $29.00 in a note issued to investors on Thursday. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 28.21% from the company’s previous close.

A number of other brokerages also recently issued reports on DISCA. BidaskClub downgraded shares of Discovery Communications from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Pivotal Research reissued a “hold” rating and set a $28.00 target price (up from $27.00) on shares of Discovery Communications in a research report on Sunday, April 23rd. Citigroup Inc. raised shares of Discovery Communications from a “sell” rating to a “neutral” rating in a research report on Thursday, April 20th. Wells Fargo & Company began coverage on shares of Discovery Communications in a research note on Thursday, July 20th. They set a “market perform” rating and a $28.00 price target on the stock. Finally, Credit Suisse Group restated an “underperform” rating and set a $24.00 price target on shares of Discovery Communications in a research note on Saturday, July 22nd. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $27.27.

Shares of Discovery Communications (DISCA) opened at 22.60 on Thursday. The company has a market cap of $12.88 billion, a PE ratio of 11.99 and a beta of 1.59. The company has a 50 day moving average of $25.33 and a 200-day moving average of $27.02. Discovery Communications has a 52-week low of $22.51 and a 52-week high of $30.25.

Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings data 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 16.88% and a return on equity of 22.74%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the company posted $0.71 EPS. Discovery Communications’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts forecast that Discovery Communications will post $2.23 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Royal Bank Of Canada Lowers Discovery Communications, Inc. (DISCA) Price Target to $29.00” was posted by Watch List News and is owned by of Watch List News. If you are viewing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright laws. The original version of this report can be viewed at https://www.watchlistnews.com/royal-bank-of-canada-lowers-discovery-communications-inc-disca-price-target-to-29-00/1498079.html.

In related news, Director S Decker Anstrom purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were purchased at an average cost of $23.05 per share, for a total transaction of $230,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gunnar Wiedenfels purchased 15,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was bought at an average price of $21.70 per share, for a total transaction of $325,500.00. Following the completion of the acquisition, the chief financial officer now owns 35,000 shares of the company’s stock, valued at approximately $759,500. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 45,000 shares of company stock worth $1,016,200. 5.78% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Discovery Communications by 5.2% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 18,606,223 shares of the company’s stock valued at $480,599,000 after buying an additional 917,632 shares during the last quarter. Clearbridge Investments LLC raised its stake in Discovery Communications by 2.3% in the first quarter. Clearbridge Investments LLC now owns 17,843,671 shares of the company’s stock valued at $519,072,000 after buying an additional 399,171 shares during the last quarter. Vanguard Group Inc. raised its stake in Discovery Communications by 5.4% in the second quarter. Vanguard Group Inc. now owns 16,661,316 shares of the company’s stock valued at $430,362,000 after buying an additional 858,015 shares during the last quarter. Bank of New York Mellon Corp raised its stake in 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 valued at $319,034,000 after buying an additional 1,848,329 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Discovery Communications by 2.0% in the second quarter. BlackRock Inc. now owns 9,533,783 shares of the company’s stock valued at $246,259,000 after buying an additional 187,781 shares during the last quarter. Institutional investors own 44.22% of the company’s stock.

About Discovery Communications

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.

Analyst Recommendations for Discovery Communications (NASDAQ:DISCA)

Receive News & Ratings for Discovery Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discovery Communications Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.