Equities researchers at Sterne Agee began coverage on shares of Discovery (NASDAQ: DISCA) in a research report issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $87.00 price target on the stock. Sterne Agee’s price objective would suggest a potential upside of 18.25% from the stock’s previous close.
The analysts wrote, “We think DISCA offers the highest quality earnings mix in our group and the recent pullback created an opportunity; we are initiating coverage with a Buy rating. Our price target of $87 suggests 18% upside.”
Discovery (NASDAQ: DISCA) traded up 0.83% on Wednesday, hitting $74.18. Discovery has a 1-year low of $48.00 and a 1-year high of $81.43. The stock’s 50-day moving average is currently $78.38. The company has a market cap of $26.927 billion and a price-to-earnings ratio of 28.90.
Discovery (NASDAQ: DISCA) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.63 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.65 by $0.02. The company had revenue of $1.16 million for the quarter, compared to the consensus estimate of $1.15 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. On average, analysts predict that Discovery will post $3.35 earnings per share for the current fiscal year.
DISCA has been the subject of a number of other recent research reports. Analysts at TheStreet reiterated a “buy” rating on shares of Discovery in a research note to investors on Monday, June 3rd. Separately, analysts at Sanford C. Bernstein reiterated an “outperform” rating on shares of Discovery in a research note to investors on Friday, May 24th. They now have a $90.00 price target on the stock. Finally, analysts at Sanford C. Bernstein raised their price target on shares of Discovery from $87.00 to $90.00 in a research note to investors on Monday, May 13th. They now have an “outperform” rating on the stock.
Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $76.53.
Discovery Communications, Inc. (NASDAQ: DISCA) is a global nonfiction media and entertainment company that provide programming across multiple distribution platforms worldwide.