Discovery Inc Series C (NASDAQ:DISCK) Posts Quarterly Earnings Results, Misses Estimates By $0.37 EPS

Discovery Inc Series C (NASDAQ:DISCK) announced its earnings results on Tuesday. The company reported $0.98 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by ($0.37), Morningstar.com reports. The business had revenue of $2.89 billion for the quarter. Discovery Inc Series C had a return on equity of 20.10% and a net margin of 9.00%.

NASDAQ DISCK traded up $0.19 during mid-day trading on Wednesday, hitting $27.47. The stock had a trading volume of 3,709,563 shares, compared to its average volume of 2,537,267. The stock’s 50 day moving average is $28.54. Discovery Inc Series C has a twelve month low of $21.99 and a twelve month high of $31.55. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $14.34 billion, a PE ratio of 13.02 and a beta of 1.43.

Several research analysts have recently weighed in on the company. Zacks Investment Research downgraded Discovery Inc Series C from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th. BidaskClub downgraded Discovery Inc Series C from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, ValuEngine downgraded Discovery Inc Series C from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Discovery Inc Series C by 19.2% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 272,236 shares of the company’s stock worth $7,473,000 after purchasing an additional 43,879 shares during the period. Redpoint Investment Management Pty Ltd purchased a new position in Discovery Inc Series C during the 2nd quarter valued at about $315,000. Wells Fargo & Company MN boosted its holdings in Discovery Inc Series C by 1,011.1% during the 2nd quarter. Wells Fargo & Company MN now owns 5,561,179 shares of the company’s stock valued at $158,216,000 after acquiring an additional 5,060,685 shares during the period. Reynders McVeigh Capital Management LLC purchased a new position in Discovery Inc Series C during the 2nd quarter valued at about $326,000. Finally, Stone Ridge Asset Management LLC purchased a new position in Discovery Inc Series C during the 2nd quarter valued at about $275,000. 56.61% of the stock is owned by hedge funds and other institutional investors.

About Discovery Inc Series C

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.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

Earnings History for Discovery Inc Series C (NASDAQ:DISCK)

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