Discovery Communications Inc. (NASDAQ:DISCA) shares traded up 10% during mid-day trading on Thursday . The stock traded as high as $23.12 and last traded at $23.82. 5,040,000 shares traded hands during trading, a decline of 29% from the average session volume of 7,100,000 shares. The stock had previously closed at $21.65.
Several research analysts recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 target price (down previously from $29.00) on shares of Discovery Communications in a research report on Friday, November 3rd. Barrington Research raised Discovery Communications from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research report on Tuesday, January 2nd. UBS Group raised Discovery Communications from a “sell” rating to a “neutral” rating and cut their target price for the company from $25.00 to $23.00 in a research report on Tuesday, September 26th. Jefferies Group cut their target price on Discovery Communications from $27.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, November 3rd. Finally, Bank of America raised Discovery Communications from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Thursday, December 21st. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. Discovery Communications presently has a consensus rating of “Hold” and a consensus target price of $24.17.
The company has a quick ratio of 5.87, a current ratio of 5.87 and a debt-to-equity ratio of 2.56. The firm has a market cap of $9,101.09, a PE ratio of 11.54, a price-to-earnings-growth ratio of 1.20 and a beta of 1.55.
Discovery Communications (NASDAQ:DISCA) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.12). Discovery Communications had a return on equity of 22.24% and a net margin of 16.63%. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the prior year, the firm posted $0.47 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. research analysts forecast that Discovery Communications Inc. will post 1.94 EPS for the current year.
In other Discovery Communications news, insider Bruce Campbell sold 3,047 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $18.17, for a total value of $55,363.99. Following the sale, the insider now directly owns 43,173 shares in the company, valued at $784,453.41. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Gunnar Wiedenfels bought 15,000 shares of the stock in a transaction on Friday, November 3rd. The stock was purchased at an average price of $15.45 per share, for a total transaction of $231,750.00. Following the completion of the purchase, the chief financial officer now owns 50,000 shares of the company’s stock, valued at $772,500. The disclosure for this purchase can be found here. In the last three months, insiders acquired 527,523 shares of company stock worth $9,629,104. Insiders own 6.81% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its stake in shares of Discovery Communications by 437.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock valued at $102,000 after purchasing an additional 3,230 shares during the period. Advisor Group Inc. raised its stake in shares of Discovery Communications by 27.7% during the 2nd quarter. Advisor Group Inc. now owns 9,100 shares of the company’s stock valued at $235,000 after purchasing an additional 1,975 shares during the period. Flossbach Von Storch AG bought a new stake in shares of Discovery Communications during the 3rd quarter valued at $208,000. QCM Cayman Ltd. raised its stake in shares of Discovery Communications by 38.6% during the 2nd quarter. QCM Cayman Ltd. now owns 10,350 shares of the company’s stock valued at $267,000 after purchasing an additional 2,885 shares during the period. Finally, OLD National Bancorp IN bought a new stake in shares of Discovery Communications during the 3rd quarter valued at $222,000. Hedge funds and other institutional investors own 48.12% of the company’s stock.
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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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