Analysts predict that Discovery Communications Inc. (NASDAQ:DISCA) will announce earnings per share of $0.82 for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Discovery Communications’ earnings, with the highest EPS estimate coming in at $0.86 and the lowest estimate coming in at $0.79. Discovery Communications reported earnings per share of $0.52 in the same quarter last year, which suggests a positive year over year growth rate of 57.7%. The company is scheduled to issue its next quarterly earnings results on Thursday, November 14th.
According to Zacks, analysts expect that Discovery Communications will report full year earnings of $3.82 per share for the current financial year, with EPS estimates ranging from $3.60 to $4.45. For the next fiscal year, analysts forecast that the business will report earnings of $4.05 per share, with EPS estimates ranging from $3.66 to $4.64. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Discovery Communications.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.01). The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.89 billion. Discovery Communications had a return on equity of 21.53% and a net margin of 15.62%. The business’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.77 earnings per share.
Several research firms have recently weighed in on DISCA. Wolfe Research lowered Discovery Communications from an “outperform” rating to a “peer perform” rating in a research note on Thursday, May 30th. BidaskClub lowered Discovery Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. Finally, Imperial Capital reduced their price objective on Discovery Communications from $30.00 to $29.00 and set an “inline” rating for the company in a research note on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. Discovery Communications has an average rating of “Hold” and an average price target of $34.88.
Shares of DISCA traded down $0.22 during trading hours on Friday, hitting $27.89. 2,909,600 shares of the company were exchanged, compared to its average volume of 3,960,479. The company has a market capitalization of $15.35 billion, a PE ratio of 13.22, a PEG ratio of 0.39 and a beta of 1.57. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a fifty day simple moving average of $28.58 and a 200-day simple moving average of $29.04. Discovery Communications has a one year low of $23.79 and a one year high of $34.89.
In other news, General Counsel Savalle Sims sold 3,085 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $30.18, for a total value of $93,105.30. Following the completion of the sale, the general counsel now owns 46,388 shares of the company’s stock, valued at $1,399,989.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel E. Sanchez sold 1,059 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $28.40, for a total value of $30,075.60. Following the completion of the sale, the director now directly owns 16,789 shares of the company’s stock, valued at approximately $476,807.60. The disclosure for this sale can be found here. Company insiders own 4.43% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Discovery Communications by 12.4% during the second quarter. Vanguard Group Inc. now owns 19,303,196 shares of the company’s stock valued at $592,608,000 after purchasing an additional 2,134,191 shares during the last quarter. Rothschild & Co. Asset Management US Inc. acquired a new stake in Discovery Communications during the second quarter valued at $51,543,000. JPMorgan Chase & Co. boosted its position in Discovery Communications by 17.4% during the first quarter. JPMorgan Chase & Co. now owns 10,743,754 shares of the company’s stock valued at $290,295,000 after purchasing an additional 1,595,179 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Discovery Communications by 790.2% during the second quarter. Nuveen Asset Management LLC now owns 1,765,724 shares of the company’s stock valued at $54,207,000 after purchasing an additional 1,567,374 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Discovery Communications by 62.7% during the second quarter. Wells Fargo & Company MN now owns 3,453,246 shares of the company’s stock valued at $106,015,000 after purchasing an additional 1,330,279 shares during the last quarter. 34.08% of the stock is owned by institutional investors and hedge funds.
About Discovery Communications
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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