Royal Bank Of Canada Lowers Discovery Communications, Inc. (DISCA) Price Target to $29.00

Discovery Communications, Inc. (NASDAQ:DISCA) had its price objective decreased by investment analysts at Royal Bank Of Canada from $32.00 to $29.00 in a note issued to investors on Thursday. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 28.21% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Piper Jaffray Companies started coverage on shares of Discovery Communications in a research note on Friday, August 11th. They issued a “neutral” rating and a $27.00 price target on the stock. Pivotal Research upgraded Discovery Communications from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Tuesday, August 8th. Cowen and Company reiterated a “hold” rating and set a $25.00 price target on shares of Discovery Communications in a report on Thursday, August 3rd. Barrington Research reiterated a “market perform” rating on shares of Discovery Communications in a report on Wednesday, August 2nd. Finally, MKM Partners restated a “neutral” rating and issued a $26.00 price objective (down from $30.00) on shares of Discovery Communications in a report on Wednesday, August 2nd. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $27.27.

Shares of Discovery Communications (DISCA) opened at 22.60 on Thursday. Discovery Communications has a 52 week low of $22.51 and a 52 week high of $30.25. The company has a market capitalization of $12.88 billion, a price-to-earnings ratio of 11.99 and a beta of 1.59. The stock has a 50 day moving average of $25.33 and a 200-day moving average of $27.02.

Discovery Communications (NASDAQ:DISCA) last issued its quarterly earnings data on Monday, July 31st. The company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by $0.04. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. Discovery Communications’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 EPS. On average, analysts anticipate that Discovery Communications will post $2.23 EPS for the current year.

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In other news, Director S Decker Anstrom bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average price of $23.05 per share, for a total transaction of $230,500.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Bruce Campbell sold 9,283 shares of Discovery Communications stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $26.43, for a total value of $245,349.69. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 45,000 shares of company stock valued at $1,016,200. 5.78% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in shares of Discovery Communications by 437.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock valued at $102,000 after buying an additional 3,230 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Discovery Communications by 5.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,915 shares of the company’s stock worth $106,000 after buying an additional 215 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Discovery Communications by 24.7% in the first quarter. Daiwa Securities Group Inc. now owns 4,540 shares of the company’s stock worth $132,000 after buying an additional 900 shares in the last quarter. Ballentine Partners LLC purchased a new stake in Discovery Communications during the second quarter worth approximately $133,000. Finally, Acadian Asset Management LLC purchased a new stake in Discovery Communications during the first quarter worth approximately $134,000. 44.22% of the stock is currently owned by institutional investors and hedge funds.

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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