Wall Street analysts expect Discovery Communications Inc. (NASDAQ:DISCA) to report $1.78 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Discovery Communications’ earnings. The lowest sales estimate is $1.74 billion and the highest is $1.82 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 6.6%. The firm is expected to report its next earnings results before the market opens on Tuesday, February 27th.
According to Zacks, analysts expect that Discovery Communications will report full year sales of $1.78 billion for the current year, with estimates ranging from $6.74 billion to $6.84 billion. For the next year, analysts forecast that the firm will report sales of $7.37 billion per share, with estimates ranging from $7.17 billion to $7.64 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Discovery Communications.
DISCA has been the subject of several recent analyst reports. BidaskClub raised Discovery Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Bank of America raised Discovery Communications from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Thursday, December 21st. Loop Capital lowered their price target on Discovery Communications from $25.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, November 3rd. Jefferies Group lowered their price target on Discovery Communications from $27.00 to $20.00 and set a “hold” rating for the company in a research report on Friday, November 3rd. Finally, ValuEngine lowered Discovery Communications from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have given a buy rating to the company. Discovery Communications has an average rating of “Hold” and a consensus price target of $24.44.
Shares of Discovery Communications (DISCA) traded up $0.21 during trading on Thursday, reaching $24.01. The company’s stock had a trading volume of 3,070,000 shares, compared to its average volume of 4,810,000. The company has a debt-to-equity ratio of 2.56, a current ratio of 5.87 and a quick ratio of 5.87. The stock has a market capitalization of $8,870.00, a price-to-earnings ratio of 18.91, a P/E/G ratio of 1.22 and a beta of 1.59. Discovery Communications has a fifty-two week low of $15.99 and a fifty-two week high of $30.25.
In other Discovery Communications news, insider Bruce Campbell sold 3,047 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $18.17, for a total transaction of $55,363.99. Following the completion of the sale, the insider now directly owns 43,173 shares in the company, valued at approximately $784,453.41. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John C. Malone purchased 332,523 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were purchased at an average price of $19.72 per share, with a total value of $6,557,353.56. Following the completion of the purchase, the director now owns 671,095 shares in the company, valued at $13,233,993.40. The disclosure for this purchase can be found here. 6.81% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Icon Wealth Partners LLC bought a new stake in shares of Discovery Communications during the 4th quarter valued at about $106,000. Delpha Capital Management LLC bought a new stake in shares of Discovery Communications during the 4th quarter valued at about $149,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in shares of Discovery Communications during the 4th quarter valued at about $167,000. Flossbach Von Storch AG bought a new position in shares of Discovery Communications during the 3rd quarter valued at approximately $208,000. Finally, OLD National Bancorp IN bought a new position in shares of Discovery Communications during the 3rd quarter valued at approximately $222,000. Institutional investors and hedge funds own 47.37% of the company’s stock.
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Discovery Communications Company Profile
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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