Wall Street brokerages predict that Discovery Communications Inc. (NASDAQ:DISCA) will post $0.81 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Discovery Communications’ earnings, with the lowest EPS estimate coming in at $0.61 and the highest estimate coming in at $0.92. Discovery Communications reported earnings of $0.47 per share in the same quarter last year, which would indicate a positive year over year growth rate of 72.3%. The company is expected to announce its next earnings results on Tuesday, February 26th.
According to Zacks, analysts expect that Discovery Communications will report full year earnings of $2.17 per share for the current financial year, with EPS estimates ranging from $2.03 to $2.35. For the next year, analysts expect that the company will report earnings of $3.52 per share, with EPS estimates ranging from $2.59 to $4.13. Zacks’ earnings per share averages are a mean 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 data on Thursday, November 8th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Discovery Communications had a negative net margin of 8.52% and a positive return on equity of 17.05%. The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the prior year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 57.0% on a year-over-year basis.
Several research firms have recently weighed in on DISCA. Barclays reiterated a “hold” rating on shares of Discovery Communications in a research note on Tuesday. Zacks Investment Research lowered Discovery Communications from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. Pivotal Research reiterated a “hold” rating and issued a $26.00 price objective on shares of Discovery Communications in a research note on Tuesday, August 7th. Citigroup upped their price objective on Discovery Communications from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, August 15th. Finally, Imperial Capital decreased their price target on Discovery Communications from $37.00 to $31.00 and set an “inline” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Discovery Communications has a consensus rating of “Buy” and an average target price of $32.79.
In other Discovery Communications news, General Counsel Savalle Sims sold 1,666 shares of the company’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $28.21, for a total transaction of $46,997.86. Following the transaction, the general counsel now owns 208 shares of the company’s stock, valued at approximately $5,867.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider David Leavy sold 39,278 shares of the company’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $31.65, for a total value of $1,243,148.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 281,031 shares of company stock worth $8,506,185. 6.73% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of DISCA. Truvestments Capital LLC acquired a new position in Discovery Communications during the 3rd quarter worth $122,000. Dupont Capital Management Corp lifted its holdings in Discovery Communications by 108.8% during the 2nd quarter. Dupont Capital Management Corp now owns 6,010 shares of the company’s stock worth $165,000 after buying an additional 3,132 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Discovery Communications during the 3rd quarter worth $172,000. Chicago Equity Partners LLC acquired a new position in Discovery Communications during the 3rd quarter worth $200,000. Finally, Engineers Gate Manager LP acquired a new position in Discovery Communications during the 3rd quarter worth $202,000. 41.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of DISCA stock traded down $0.22 during trading hours on Wednesday, hitting $27.98. The company had a trading volume of 8,550,896 shares, compared to its average volume of 3,786,615. Discovery Communications has a 12 month low of $19.03 and a 12 month high of $34.89. The firm has a market cap of $16.08 billion, a P/E ratio of 12.49, a P/E/G ratio of 0.39 and a beta of 1.24. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.61.
About Discovery Communications
Discovery, Inc operates as a media company worldwide. The company operates through U.S. Networks, International Networks, and Education and Other segments. It owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, Velocity, Discovery Family Channel, Destination America, American Heroes Channel, Discovery Life, The Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.
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