Equities research analysts expect Discovery Communications Inc. (NASDAQ:DISCA) to post $1.77 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Discovery Communications’ earnings, with estimates ranging from $1.74 billion to $1.83 billion. Discovery Communications posted sales of $1.67 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 6%. The firm is expected to announce its next quarterly earnings report before the market opens on Tuesday, February 27th.
According to Zacks, analysts expect that Discovery Communications will report full-year sales of $1.77 billion for the current financial year, with estimates ranging from $6.73 billion to $6.84 billion. For the next financial year, analysts forecast that the firm will post sales of $7.31 billion per share, with estimates ranging from $7.14 billion to $7.61 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Discovery Communications.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.12). The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Discovery Communications had a return on equity of 22.24% and a net margin of 16.63%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 EPS.
Several research analysts have weighed in on DISCA shares. Royal Bank of Canada reiterated a “buy” rating and issued a $29.00 target price on shares of Discovery Communications in a research note on Friday, October 20th. Zacks Investment Research downgraded Discovery Communications from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 7th. Bank of America upgraded Discovery Communications from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Thursday, December 21st. Needham & Company LLC reiterated a “hold” rating on shares of Discovery Communications in a research note on Thursday, October 12th. Finally, Deutsche Bank lowered their target price on Discovery Communications from $26.00 to $21.00 and set a “hold” rating on the stock in a research note on Thursday, November 30th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. Discovery Communications presently has a consensus rating of “Hold” and an average price target of $24.44.
Discovery Communications (DISCA) opened at $25.59 on Friday. The stock has a market capitalization of $9,430.00, a P/E ratio of 20.15, a P/E/G ratio of 1.23 and a beta of 1.56. The company has a debt-to-equity ratio of 2.56, a quick ratio of 5.87 and a current ratio of 5.87. Discovery Communications has a 12 month low of $15.99 and a 12 month high of $30.25.
In other news, Director J David Wargo acquired 100,000 shares of Discovery Communications stock in a transaction that occurred on Monday, November 6th. The stock was purchased at an average cost of $15.76 per share, with a total value of $1,576,000.00. Following the completion of the acquisition, the director now owns 147,591 shares in the company, valued at approximately $2,326,034.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John C. Malone acquired 332,523 shares of Discovery Communications stock in a transaction that occurred on Wednesday, December 13th. The shares were purchased at an average cost of $19.72 per share, with a total value of $6,557,353.56. Following the completion of the acquisition, the director now owns 671,095 shares of the company’s stock, valued at approximately $13,233,993.40. The disclosure for this purchase can be found here. Insiders bought a total of 527,523 shares of company stock valued at $9,629,104 over the last three months. Insiders own 6.81% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Westpac Banking Corp grew its position in shares of Discovery Communications by 35.0% in the fourth quarter. Westpac Banking Corp now owns 75,096 shares of the company’s stock valued at $1,681,000 after purchasing an additional 19,460 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Discovery Communications by 16.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 927,738 shares of the company’s stock valued at $20,763,000 after purchasing an additional 129,988 shares during the period. Bank of Montreal Can grew its position in shares of Discovery Communications by 136.4% in the fourth quarter. Bank of Montreal Can now owns 124,515 shares of the company’s stock valued at $2,786,000 after purchasing an additional 71,848 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Discovery Communications by 278.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 104,925 shares of the company’s stock valued at $2,348,000 after purchasing an additional 77,193 shares during the period. Finally, Addenda Capital Inc. grew its position in shares of Discovery Communications by 2.2% in the fourth quarter. Addenda Capital Inc. now owns 112,457 shares of the company’s stock valued at $2,414,000 after purchasing an additional 2,439 shares during the period. 48.13% of the stock is owned by institutional investors.
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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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