Royal Bank Of Canada Lowers Discovery Communications, Inc. (DISCA) Price Target to $29.00
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.
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.
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