Discovery Inc Series C (NASDAQ:DISCK) Trading Up 11.2% After Better-Than-Expected Earnings

Shares of Discovery Inc Series C (NASDAQ:DISCK) traded up 11.2% on Thursday following a better than expected earnings announcement. The company traded as high as $28.79 and last traded at $28.70, 2,963,225 shares were traded during trading. An increase of 18% from the average session volume of 2,515,899 shares. The stock had previously closed at $25.80.

The company reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.05. The company had revenue of $2.68 billion for the quarter. Discovery Inc Series C had a net margin of 15.62% and a return on equity of 21.53%.

Several equities research analysts have weighed in on the stock. ValuEngine upgraded shares of Discovery Inc Series C from a “strong sell” rating to a “sell” rating in a report on Thursday, August 8th. Morgan Stanley cut their target price on shares of Discovery Inc Series C from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday. Zacks Investment Research lowered shares of Discovery Inc Series C from a “hold” rating to a “sell” rating in a report on Tuesday, July 16th. Finally, BidaskClub upgraded shares of Discovery Inc Series C from a “sell” rating to a “hold” rating in a report on Saturday. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $30.00.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cornerstone Advisors Inc. raised its holdings in shares of Discovery Inc Series C by 105.3% during the second quarter. Cornerstone Advisors Inc. now owns 895 shares of the company’s stock worth $25,000 after acquiring an additional 459 shares during the period. Resources Investment Advisors LLC. raised its holdings in shares of Discovery Inc Series C by 55.0% during the second quarter. Resources Investment Advisors LLC. now owns 1,972 shares of the company’s stock worth $56,000 after acquiring an additional 700 shares during the period. Financial Gravity Wealth Inc. raised its holdings in shares of Discovery Inc Series C by 303.2% during the second quarter. Financial Gravity Wealth Inc. now owns 2,157 shares of the company’s stock worth $61,000 after acquiring an additional 1,622 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in shares of Discovery Inc Series C during the second quarter worth $90,000. Finally, Whittier Trust Co. raised its holdings in shares of Discovery Inc Series C by 742.1% during the third quarter. Whittier Trust Co. now owns 4,059 shares of the company’s stock worth $100,000 after acquiring an additional 3,577 shares during the period. Institutional investors own 56.76% of the company’s stock.

The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $14.05 billion, a price-to-earnings ratio of 8.40 and a beta of 1.43. The business’s fifty day moving average is $25.49 and its 200 day moving average is $26.78.

Discovery Inc Series C Company Profile (NASDAQ:DISCK)

Discovery, Inc operates as a media company worldwide. The company operates through two segments, U.S. Networks and International Networks. The company owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, MotorTrend, Food Network, HGTV, Travel Channel, TVN, DIY Network, Cooking Channel, Discovery Family Channel, American Heroes Channel, Destination America, Discovery Life, Discovery en Espanol, Discovery Familia, Great American Country, the Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.

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