Discovery Communications, Inc. (NASDAQ:DISCA) – Equities research analysts at Jefferies Group lifted their Q4 2017 EPS estimates for shares of Discovery Communications in a report issued on Tuesday. Jefferies Group analyst J. Janedis now expects that the company will post earnings per share of $0.63 for the quarter, up from their prior forecast of $0.61. Jefferies Group currently has a “Hold” rating and a $28.00 target price on the stock.
Discovery Communications (NASDAQ:DISCA) last announced its earnings results on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.04). Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the firm posted $0.71 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis.
A number of other brokerages have also issued reports on DISCA. Wells Fargo & Company began coverage on shares of Discovery Communications in a report on Thursday, July 20th. They issued a “market perform” rating and a $28.00 price objective for the company. 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. BidaskClub lowered shares of Discovery Communications from a “hold” rating to a “sell” rating in a report on Friday, July 28th. 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. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $30.00 price objective (down previously from $32.00) on shares of Discovery Communications in a report on Friday, July 14th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. Discovery Communications has a consensus rating of “Hold” and a consensus price target of $27.07.
Shares of Discovery Communications (NASDAQ:DISCA) traded down 0.337% during trading on Wednesday, hitting $19.215. 1,834,285 shares of the company’s stock were exchanged. Discovery Communications has a 1-year low of $19.01 and a 1-year high of $30.25. The stock has a market cap of $10.95 billion, a PE ratio of 10.194 and a beta of 1.56. The stock’s 50-day moving average price is $21.46 and its 200-day moving average price is $25.13.
In related news, Director S Decker Anstrom acquired 10,000 shares of Discovery Communications stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average price of $23.05 per share, with a total value of $230,500.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Gunnar Wiedenfels acquired 20,000 shares of Discovery Communications stock in a transaction dated Tuesday, August 1st. The shares were bought at an average cost of $23.01 per share, with a total value of $460,200.00. Following the transaction, the chief financial officer now owns 20,000 shares in the company, valued at $460,200. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 55,000 shares of company stock valued at $1,243,300. Insiders own 6.81% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its position in shares of Discovery Communications by 437.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock worth $102,000 after buying an additional 3,230 shares during the period. Ballentine Partners LLC acquired a new stake in Discovery Communications in the 2nd quarter valued at $133,000. Ameritas Investment Partners Inc. acquired a new stake in Discovery Communications in the 1st quarter valued at $182,000. Horizon Investment Services LLC acquired a new stake in Discovery Communications in the 1st quarter valued at $202,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. grew its position in Discovery Communications by 112.1% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,000 shares of the company’s stock valued at $204,000 after purchasing an additional 3,700 shares during the period. 45.84% of the stock is owned by institutional investors.
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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