Wall Street analysts expect that Discovery Communications Inc. (NASDAQ:DISCA) will post sales of $2.87 billion for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Discovery Communications’ earnings, with estimates ranging from $2.83 billion to $2.91 billion. Discovery Communications posted sales of $2.81 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 2.1%. The business is expected to announce its next earnings results on Tuesday, February 25th.
According to Zacks, analysts expect that Discovery Communications will report full year sales of $11.16 billion for the current financial year, with estimates ranging from $11.10 billion to $11.21 billion. For the next financial year, analysts forecast that the company will post sales of $11.85 billion, with estimates ranging from $11.34 billion to $12.09 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Discovery Communications.
Discovery Communications (NASDAQ:DISCA) last announced its earnings results on Thursday, November 7th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Discovery Communications had a return on equity of 23.29% and a net margin of 16.81%. Discovery Communications’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 EPS.
A number of equities research analysts have commented on DISCA shares. BidaskClub cut Discovery Communications from a “hold” rating to a “sell” rating in a report on Wednesday, August 28th. Rosenblatt Securities increased their target price on Discovery Communications from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Sunday, November 10th. Wells Fargo & Co started coverage on Discovery Communications in a report on Monday, September 23rd. They set an “outperform” rating and a $35.00 target price on the stock. UBS Group increased their target price on Discovery Communications from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, Imperial Capital upgraded Discovery Communications from an “in-line” rating to an “outperform” rating and increased their target price for the company from $29.00 to $34.00 in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Discovery Communications has a consensus rating of “Hold” and an average target price of $34.10.
NASDAQ:DISCA traded up $0.81 during trading hours on Friday, reaching $31.57. 4,681,000 shares of the company traded hands, compared to its average volume of 3,962,258. The firm’s 50-day moving average is $28.18 and its 200-day moving average is $28.72. The stock has a market cap of $15.61 billion, a P/E ratio of 14.96, a P/E/G ratio of 0.42 and a beta of 1.55. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.52 and a quick ratio of 1.52. Discovery Communications has a 1-year low of $23.79 and a 1-year high of $32.87.
In other Discovery Communications news, Director John C. Malone acquired 2,670,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average price of $28.03 per share, for a total transaction of $74,840,100.00. Following the completion of the acquisition, the director now directly owns 10,317,937 shares of the company’s stock, valued at $289,211,774.11. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.43% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of DISCA. Vanguard Group Inc. raised its position in shares of Discovery Communications by 12.4% in the 2nd quarter. Vanguard Group Inc. now owns 19,303,196 shares of the company’s stock worth $592,608,000 after buying an additional 2,134,191 shares during the period. BlackRock Inc. raised its position in shares of Discovery Communications by 0.8% in the 2nd quarter. BlackRock Inc. now owns 10,691,122 shares of the company’s stock worth $328,218,000 after buying an additional 85,421 shares during the period. Wells Fargo & Company MN raised its position in shares of Discovery Communications by 62.7% in the 2nd quarter. Wells Fargo & Company MN now owns 3,453,246 shares of the company’s stock worth $106,015,000 after buying an additional 1,330,279 shares during the period. Northern Trust Corp raised its position in shares of Discovery Communications by 6.5% in the 2nd quarter. Northern Trust Corp now owns 2,535,004 shares of the company’s stock worth $77,825,000 after buying an additional 154,878 shares during the period. Finally, Nuveen Asset Management LLC raised its position in shares of Discovery Communications by 790.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,765,724 shares of the company’s stock worth $54,207,000 after buying an additional 1,567,374 shares during the period. Institutional investors and hedge funds own 34.15% of the company’s stock.
Discovery Communications Company Profile
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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