Wall Street analysts expect that Discovery Communications Inc. (NASDAQ:DISCA) will announce sales of $2.68 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Discovery Communications’ earnings. The lowest sales estimate is $2.67 billion and the highest is $2.69 billion. Discovery Communications reported sales of $2.59 billion during the same quarter last year, which would suggest a positive year over year growth rate of 3.5%. The business is scheduled to report its next earnings report on Thursday, November 14th.
On average, analysts expect that Discovery Communications will report full year sales of $11.18 billion for the current fiscal year, with estimates ranging from $11.16 billion to $11.21 billion. For the next financial year, analysts forecast that the firm will report sales of $11.89 billion, with estimates ranging from $11.34 billion to $12.14 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Discovery Communications.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($0.01). Discovery Communications had a net margin of 15.62% and a return on equity of 21.53%. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the previous year, the company earned $0.77 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year.
DISCA has been the topic of several research reports. Wolfe Research cut Discovery Communications from an “outperform” rating to a “peer perform” rating in a research note on Thursday, May 30th. BidaskClub cut Discovery Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. Finally, Imperial Capital cut their price objective on Discovery Communications from $30.00 to $29.00 and set an “inline” rating on the stock in a research note on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $34.88.
In related news, General Counsel Savalle Sims sold 3,085 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $30.18, for a total value of $93,105.30. Following the completion of the transaction, the general counsel now directly owns 46,388 shares of the company’s stock, valued at approximately $1,399,989.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel E. Sanchez sold 1,059 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $28.40, for a total value of $30,075.60. Following the completion of the transaction, the director now directly owns 16,789 shares of the company’s stock, valued at $476,807.60. The disclosure for this sale can be found here. 4.43% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Vestmark Advisory Solutions Inc. lifted its position in shares of Discovery Communications by 1.7% during the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 20,856 shares of the company’s stock valued at $640,000 after acquiring an additional 358 shares during the last quarter. MML Investors Services LLC lifted its position in shares of Discovery Communications by 4.5% during the 2nd quarter. MML Investors Services LLC now owns 9,185 shares of the company’s stock valued at $282,000 after acquiring an additional 393 shares during the last quarter. State Treasurer State of Michigan lifted its position in shares of Discovery Communications by 0.9% during the 1st quarter. State Treasurer State of Michigan now owns 45,249 shares of the company’s stock valued at $1,223,000 after acquiring an additional 400 shares during the last quarter. BancorpSouth Bank lifted its position in shares of Discovery Communications by 2.4% during the 2nd quarter. BancorpSouth Bank now owns 18,285 shares of the company’s stock valued at $561,000 after acquiring an additional 426 shares during the last quarter. Finally, CSat Investment Advisory L.P. lifted its position in shares of Discovery Communications by 89.5% during the 2nd quarter. CSat Investment Advisory L.P. now owns 902 shares of the company’s stock valued at $28,000 after acquiring an additional 426 shares during the last quarter. 34.08% of the stock is owned by institutional investors and hedge funds.
NASDAQ DISCA traded down $0.22 on Friday, hitting $27.89. 2,909,600 shares of the stock traded hands, compared to its average volume of 3,960,479. The stock has a 50-day moving average of $28.58 and a 200 day moving average of $29.04. Discovery Communications has a twelve month low of $23.79 and a twelve month high of $34.89. The company has a market capitalization of $15.35 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 0.39 and a beta of 1.57. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.32.
Discovery Communications Company Profile
Discovery, Inc operates as a media company worldwide. The company operates through two segments, U.S. Networks and International Networks. The company owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, MotorTrend, Food Network, HGTV, Travel Channel, TVN, DIY Network, Cooking Channel, Discovery Family Channel, American Heroes Channel, Destination America, Discovery Life, Discovery en Espanol, Discovery Familia, Great American Country, the Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.
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