Zacks Investment Research upgraded shares of Discovery Communications, Inc. (NASDAQ:DISCA) from a sell rating to a hold rating in a research report report published on Tuesday.
According to Zacks, “Discovery Communications underperformed the broader industry over the past three months. Concerns related to advertising revenues remain as these largely depend on viewer ratings. However, we are positive on the imprvement in distribution revenues. We are also impressed with the increase in U.S. Networks and Education and other segments on a year over year basis and the company's shareholder return policy. Additionally, the company has been focusing on garnering higher market share as seenf from the renewal of the AT&T deal. Following the renewal, the company's networks are are available on all platforms of DirecTV. The company also entered into a content distribution deal with Sony. The company will reveal its fourth quarter results on Feb 14.”
A number of other research analysts have also commented on DISCA. Moffett Nathanson lowered shares of Discovery Communications from a neutral rating to a sell rating and decreased their price target for the company from $31.00 to $21.00 in a research note on Tuesday, September 27th. Barrington Research lowered shares of Discovery Communications from an outperform rating to a market perform rating in a research note on Thursday, September 29th. Nomura decreased their price target on shares of Discovery Communications from $31.00 to $30.00 and set a neutral rating on the stock in a research note on Monday, October 3rd. Needham & Company LLC restated a hold rating on shares of Discovery Communications in a research report on Thursday, October 13th. Finally, FBR & Co decreased their target price on shares of Discovery Communications from $28.00 to $27.00 and set a mkt perform rating on the stock in a research report on Wednesday, November 2nd. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. Discovery Communications currently has an average rating of Hold and an average target price of $29.50.
Discovery Communications (NASDAQ:DISCA) traded up 0.449% on Tuesday, hitting $27.935. 1,240,326 shares of the stock were exchanged. The company has a 50-day moving average price of $27.87 and a 200 day moving average price of $26.46. Discovery Communications has a 1-year low of $23.66 and a 1-year high of $29.75. The company has a market capitalization of $12.77 billion, a PE ratio of 15.791 and a beta of 1.59.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.02. Discovery Communications had a net margin of 17.14% and a return on equity of 22.76%. The company earned $1.56 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the company posted $0.47 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. Analysts anticipate that Discovery Communications will post $1.91 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the company. Nordea Investment Management AB boosted its stake in Discovery Communications by 10.1% in the second quarter. Nordea Investment Management AB now owns 4,141 shares of the company’s stock valued at $104,000 after buying an additional 381 shares during the period. Virtus Investment Advisers Inc. purchased a new stake in Discovery Communications during the third quarter valued at $105,000. Pacer Advisors Inc. boosted its stake in Discovery Communications by 3.7% in the second quarter. Pacer Advisors Inc. now owns 4,507 shares of the company’s stock valued at $114,000 after buying an additional 160 shares during the period. Advisor Group Inc. purchased a new stake in Discovery Communications during the second quarter valued at $116,000. Finally, Toronto Dominion Bank boosted its stake in Discovery Communications by 433.8% in the third quarter. Toronto Dominion Bank now owns 4,404 shares of the company’s stock valued at $119,000 after buying an additional 3,579 shares during the period. Institutional investors own 41.54% of the company’s stock.
Discovery Communications Company Profile
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 and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments are U.S.
Get a free copy of the Zacks research report on Discovery Communications (DISCA)
For more information about research offerings from Zacks Investment Research, visit Zacks.com