Discovery Communications Inc. (NASDAQ:DISCA) – Analysts at Imperial Capital issued their Q2 2020 EPS estimates for shares of Discovery Communications in a research note issued to investors on Tuesday, December 4th. Imperial Capital analyst D. Miller expects that the company will post earnings of $0.97 per share for the quarter. Imperial Capital has a “Inline” rating and a $31.00 price objective on the stock.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings data on Thursday, November 8th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the business posted $0.43 earnings per share. Discovery Communications’s revenue was up 57.0% compared to the same quarter last year.
DISCA has been the topic of several other reports. Zacks Investment Research upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Monday, November 19th. JPMorgan Chase & Co. increased their target price on shares of Discovery Communications to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, October 10th. They noted that the move was a valuation call. Pivotal Research reiterated a “sell” rating and issued a $27.00 target price (up from $26.00) on shares of Discovery Communications in a report on Friday, November 9th. Credit Suisse Group upgraded shares of Discovery Communications from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $30.00 to $40.00 in a report on Wednesday, October 10th. Finally, MKM Partners increased their target price on shares of Discovery Communications to $40.00 and gave the stock a “buy” rating in a report on Monday, November 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Discovery Communications presently has a consensus rating of “Buy” and an average target price of $32.79.
Shares of DISCA stock opened at $27.98 on Wednesday. Discovery Communications has a 52-week low of $19.03 and a 52-week high of $34.89. The company has a market capitalization of $16.08 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth 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.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Discovery Communications by 199.5% in the 3rd quarter. Vanguard Group Inc. now owns 50,745,309 shares of the company’s stock valued at $1,541,300,000 after acquiring an additional 33,804,647 shares during the period. FMR LLC grew its position in shares of Discovery Communications by 7.6% in the 3rd quarter. FMR LLC now owns 11,974,666 shares of the company’s stock valued at $383,189,000 after acquiring an additional 841,302 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Discovery Communications by 14.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,180,315 shares of the company’s stock valued at $69,767,000 after acquiring an additional 274,033 shares during the period. Northern Trust Corp grew its position in shares of Discovery Communications by 8.1% in the 2nd quarter. Northern Trust Corp now owns 2,013,314 shares of the company’s stock valued at $55,366,000 after acquiring an additional 150,291 shares during the period. Finally, Strs Ohio grew its position in shares of Discovery Communications by 0.5% in the 2nd quarter. Strs Ohio now owns 1,685,726 shares of the company’s stock valued at $46,357,000 after acquiring an additional 8,647 shares during the period. Hedge funds and other institutional investors own 41.80% of the company’s stock.
In other Discovery Communications news, Director Kenneth W. Lowe sold 58,000 shares of Discovery Communications stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $28.88, for a total value of $1,675,040.00. Following the sale, the director now directly owns 1,236,060 shares in the company, valued at approximately $35,697,412.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Savalle Sims sold 1,666 shares of Discovery Communications stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $28.21, for a total transaction of $46,997.86. Following the completion of the sale, the general counsel now owns 208 shares in the company, valued at $5,867.68. 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 currently owned by company insiders.
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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