Discovery Communications (NASDAQ:DISCA) was upgraded by analysts at Pivotal Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage presently has a $27.00 price target on the stock. Pivotal Research’s target price would indicate a potential downside of 6.67% from the company’s current price.
The analysts wrote, “We value Discovery using a DCF, with a near-term discount rate of 6.7%, a long-term discount rate of 13.5% and a 2.5% long-term growth rate.””
A number of other research analysts have also issued reports on DISCA. 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. upped their target price on shares of Discovery Communications to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 10th. They noted that the move was a valuation call. Credit Suisse Group upgraded shares of Discovery Communications from a “neutral” rating to an “outperform” rating and upped their target price for the company from $30.00 to $40.00 in a report on Wednesday, October 10th. MKM Partners upped their target price on shares of Discovery Communications to $40.00 and gave the company a “buy” rating in a report on Monday, November 5th. Finally, Cannonball Research lowered shares of Discovery Communications to a “hold” rating and set a $33.00 target price on the stock. in a report on Monday, November 19th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Discovery Communications presently has a consensus rating of “Buy” and an average target price of $32.79.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings data on Thursday, November 8th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Discovery Communications had a positive return on equity of 17.05% and a negative net margin of 8.52%. The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Discovery Communications’s quarterly revenue was up 57.0% on a year-over-year basis. Analysts forecast that Discovery Communications will post 2.67 EPS for the current fiscal year.
In other news, General Counsel Savalle Sims sold 1,666 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $28.21, for a total transaction of $46,997.86. Following the transaction, the general counsel now directly owns 208 shares in the company, valued at approximately $5,867.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Gunnar Wiedenfels sold 50,000 shares of the stock in a transaction dated Monday, November 12th. The stock was sold at an average price of $29.47, for a total transaction of $1,473,500.00. Following the transaction, the chief financial officer now owns 10,000 shares in the company, valued at $294,700. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 281,031 shares of company stock worth $8,506,185. Insiders own 6.73% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of DISCA. Vanguard Group Inc. increased its position in Discovery Communications by 199.5% during the 3rd quarter. Vanguard Group Inc. now owns 50,745,309 shares of the company’s stock worth $1,541,300,000 after purchasing an additional 33,804,647 shares in the last quarter. FMR LLC increased its position in Discovery Communications by 7.6% during the 3rd quarter. FMR LLC now owns 11,974,666 shares of the company’s stock worth $383,189,000 after purchasing an additional 841,302 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Discovery Communications by 928.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 683,899 shares of the company’s stock worth $21,885,000 after purchasing an additional 617,398 shares in the last quarter. Man Group plc grew its position in Discovery Communications by 199.3% in the third quarter. Man Group plc now owns 749,403 shares of the company’s stock valued at $23,980,000 after acquiring an additional 499,007 shares in the last quarter. Finally, Schroder Investment Management Group grew its position in Discovery Communications by 68.7% in the second quarter. Schroder Investment Management Group now owns 1,056,200 shares of the company’s stock valued at $30,080,000 after acquiring an additional 430,300 shares in the last quarter. 41.80% of the stock is owned by hedge funds and other institutional investors.
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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