Discovery Communications, Inc. (NASDAQ:DISCK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
According to Zacks, “Discovery Communications is the world’s number one nonfiction media company reaching more than 1.5 billion cumulative subscribers in 170 countries. It empowers people to explore their world and satisfy their curiosity through 100-plus worldwide networks, led by Discovery Channel, TLC, Animal Planet, Science Channel, Planet Green, Investigation Discovery and HD Theater, as well as leading consumer and educational products and services, and a diversified portfolio of digital media services including HowStuffWorks.com. “
Several other equities analysts have also issued reports on DISCK. BidaskClub lowered shares of Discovery Communications from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Barrington Research restated a “market perform” rating on shares of Discovery Communications in a report on Tuesday, August 1st. ValuEngine lowered shares of Discovery Communications from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Morgan Stanley dropped their target price on shares of Discovery Communications from $31.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $25.50.
Discovery Communications (NASDAQ:DISCK) traded down 0.28% during mid-day trading on Monday, hitting $17.93. 1,640,237 shares of the company were exchanged. Discovery Communications has a 12-month low of $17.58 and a 12-month high of $29.18. The company’s 50-day moving average is $19.49 and its 200 day moving average is $23.33. The company has a market capitalization of $10.22 billion, a P/E ratio of 9.51 and a beta of 1.44.
Discovery Communications (NASDAQ:DISCK) last released its earnings results on Monday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.04). The firm had revenue of $1.75 billion during the quarter. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. Analysts expect that Discovery Communications will post $2.23 EPS for the current year.
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Institutional investors and hedge funds have recently bought and sold shares of the business. Swiss National Bank increased its stake in Discovery Communications by 0.8% in the second quarter. Swiss National Bank now owns 795,274 shares of the company’s stock valued at $20,049,000 after purchasing an additional 6,300 shares in the last quarter. Seizert Capital Partners LLC increased its stake in Discovery Communications by 11.2% in the second quarter. Seizert Capital Partners LLC now owns 3,237,316 shares of the company’s stock valued at $81,613,000 after purchasing an additional 325,593 shares in the last quarter. Teachers Advisors LLC increased its stake in Discovery Communications by 1.1% in the first quarter. Teachers Advisors LLC now owns 472,618 shares of the company’s stock valued at $13,380,000 after purchasing an additional 5,324 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Discovery Communications by 482.6% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 35,398 shares of the company’s stock valued at $892,000 after purchasing an additional 29,322 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Discovery Communications by 24.7% in the second quarter. First Trust Advisors LP now owns 139,982 shares of the company’s stock valued at $3,529,000 after purchasing an additional 27,714 shares in the last quarter. 45.66% of the stock is owned by hedge funds and other institutional investors.
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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