Jefferies Group Equities Analysts Increase Earnings Estimates for Discovery Communications Inc. (DISCA)
Discovery Communications Inc. (NASDAQ:DISCA) – Stock analysts at Jefferies Group boosted their FY2017 earnings per share estimates for shares of Discovery Communications in a research note issued to investors on Wednesday. Jefferies Group analyst J. Janedis now expects that the company will post earnings per share of $1.89 for the year, up from their prior forecast of $1.83. Jefferies Group currently has a “Hold” rating and a $20.00 target price on the stock. Jefferies Group also issued estimates for Discovery Communications’ Q4 2017 earnings at $0.37 EPS, Q1 2018 earnings at $0.44 EPS, Q2 2018 earnings at $0.73 EPS, Q3 2018 earnings at $0.54 EPS, Q4 2018 earnings at $0.58 EPS and FY2018 earnings at $2.29 EPS.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.12). The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Discovery Communications had a return on equity of 22.24% and a net margin of 16.63%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.47 earnings per share.
DISCA has been the topic of several other reports. Royal Bank of Canada reiterated an “outperform” rating and set a $24.00 target price (down from $29.00) on shares of Discovery Communications in a report on Friday, November 3rd. Barrington Research upgraded Discovery Communications from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a report on Tuesday, January 2nd. UBS Group upgraded Discovery Communications from a “sell” rating to a “neutral” rating and dropped their target price for the company from $25.00 to $23.00 in a report on Tuesday, September 26th. Bank of America upgraded Discovery Communications from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Thursday, December 21st. Finally, ValuEngine downgraded Discovery Communications from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company’s stock. Discovery Communications currently has an average rating of “Hold” and a consensus price target of $24.44.
Shares of Discovery Communications (DISCA) opened at $25.59 on Friday. The company has a market capitalization of $9,430.00, a PE ratio of 20.15, a P/E/G ratio of 1.24 and a beta of 1.56. The company has a current ratio of 5.87, a quick ratio of 5.87 and a debt-to-equity ratio of 2.56. Discovery Communications has a twelve month low of $15.99 and a twelve month high of $30.25.
Several institutional investors and hedge funds have recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC grew its position in shares of Discovery Communications by 0.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 18,729,826 shares of the company’s stock worth $398,758,000 after acquiring an additional 123,603 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Discovery Communications by 5.4% in the 2nd quarter. Vanguard Group Inc. now owns 16,661,316 shares of the company’s stock worth $430,362,000 after acquiring an additional 858,015 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Discovery Communications by 12.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 11,966,987 shares of the company’s stock worth $254,779,000 after acquiring an additional 1,297,175 shares in the last quarter. BlackRock Inc. grew its position in shares of Discovery Communications by 2.0% in the 2nd quarter. BlackRock Inc. now owns 9,533,783 shares of the company’s stock worth $246,259,000 after acquiring an additional 187,781 shares in the last quarter. Finally, State Street Corp grew its position in shares of Discovery Communications by 5.4% in the 2nd quarter. State Street Corp now owns 7,346,135 shares of the company’s stock worth $189,736,000 after acquiring an additional 376,975 shares in the last quarter. Institutional investors own 48.13% of the company’s stock.
In other news, insider Bruce Campbell sold 3,047 shares of Discovery Communications stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $18.17, for a total value of $55,363.99. Following the completion of the transaction, the insider now owns 43,173 shares in the company, valued at approximately $784,453.41. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director J David Wargo bought 100,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was purchased at an average price of $15.76 per share, with a total value of $1,576,000.00. Following the transaction, the director now owns 147,591 shares in the company, valued at approximately $2,326,034.16. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 527,523 shares of company stock valued at $9,629,104. 6.81% of the stock is owned by insiders.
Discovery Communications Company Profile
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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