Discovery Communications (DISCA) Trading 7.1% Higher

Shares of Discovery Communications, Inc. (NASDAQ:DISCA) traded up 7.1% during mid-day trading on Tuesday . The stock traded as high as $20.98 and last traded at $20.85. 14,287,601 shares changed hands during mid-day trading, an increase of 271% from the average session volume of 3,854,783 shares. The stock had previously closed at $19.46.

Several research firms have weighed in on DISCA. Deutsche Bank cut their price objective on Discovery Communications from $26.00 to $21.00 and set a “hold” rating on the stock in a research report on Thursday, November 30th. B. Riley cut their price objective on Discovery Communications from $23.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 8th. Zacks Investment Research cut Discovery Communications from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 7th. Credit Suisse Group cut their price objective on Discovery Communications from $22.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, November 6th. Finally, Loop Capital cut their price objective on Discovery Communications from $25.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, November 3rd. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $23.67.

The company has a market cap of $7,376.39, a price-to-earnings ratio of 9.36, a PEG ratio of 1.08 and a beta of 1.55. The company has a debt-to-equity ratio of 2.56, a quick ratio of 5.87 and a current ratio of 5.87.

Discovery Communications (NASDAQ:DISCA) last released its earnings results on Thursday, November 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.12). Discovery Communications had a net margin of 16.63% and a return on equity of 22.24%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the business posted $0.47 earnings per share. Discovery Communications’s revenue for the quarter was up 6.1% on a year-over-year basis. equities analysts predict that Discovery Communications, Inc. will post 1.97 earnings per share for the current fiscal year.

In other news, Director J David Wargo acquired 80,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was bought at an average cost of $15.80 per share, for a total transaction of $1,264,000.00. Following the acquisition, the director now directly owns 147,591 shares in the company, valued at $2,331,937.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Gunnar Wiedenfels acquired 15,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was purchased at an average price of $15.45 per share, with a total value of $231,750.00. Following the completion of the acquisition, the chief financial officer now owns 50,000 shares in the company, valued at $772,500. The disclosure for this purchase can be found here. Insiders have bought 195,000 shares of company stock valued at $3,071,750 over the last quarter. Company insiders own 6.81% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System raised its stake in Discovery Communications by 1.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock valued at $245,000 after buying an additional 100 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Discovery Communications by 0.9% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,424 shares of the company’s stock valued at $295,000 after buying an additional 102 shares during the last quarter. Sentry Investment Management LLC raised its stake in Discovery Communications by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 11,406 shares of the company’s stock valued at $295,000 after buying an additional 123 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Discovery Communications by 0.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,852 shares of the company’s stock valued at $616,000 after buying an additional 206 shares during the last quarter. Finally, Thrivent Financial For Lutherans raised its stake in Discovery Communications by 0.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 49,629 shares of the company’s stock valued at $1,282,000 after buying an additional 220 shares during the last quarter. Institutional investors own 48.25% 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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