Rosenblatt Securities Increases Discovery (NASDAQ:DISCA) Price Target to $45.00


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Discovery (NASDAQ:DISCA) had its target price hoisted by analysts at Rosenblatt Securities from $23.00 to $45.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. The brokerage presently has a “neutral” rating on the stock. Rosenblatt Securities’ price objective points to a potential downside of 18.14% from the stock’s previous close.

Several other brokerages have also issued reports on DISCA. TheStreet upgraded shares of Discovery from a “c” rating to a “b-” rating in a research note on Thursday, November 5th. Wells Fargo & Company raised their target price on shares of Discovery from $42.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday. They noted that the move was a valuation call. KeyCorp initiated coverage on shares of Discovery in a research report on Tuesday, December 8th. They set a “sector weight” rating and a $31.00 price objective on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price objective on shares of Discovery from $28.00 to $36.00 in a research note on Wednesday, January 6th. Finally, Macquarie lifted their price objective on Discovery from $30.00 to $40.00 in a report on Thursday, January 28th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. Discovery has a consensus rating of “Hold” and a consensus price target of $36.33.

Shares of NASDAQ DISCA traded down $0.32 during mid-day trading on Tuesday, reaching $54.97. 2,298 shares of the company’s stock traded hands, compared to its average volume of 10,007,455. The stock has a market cap of $26.99 billion, a P/E ratio of 26.68, a PEG ratio of 0.88 and a beta of 1.53. The business has a 50-day simple moving average of $40.63 and a 200 day simple moving average of $28.07. Discovery has a 1-year low of $17.12 and a 1-year high of $56.02. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.99 and a quick ratio of 1.99.

Discovery (NASDAQ:DISCA) last announced its quarterly earnings data on Monday, February 22nd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.72 by $0.04. Discovery had a net margin of 13.36% and a return on equity of 20.76%. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts anticipate that Discovery will post 3.17 earnings per share for the current fiscal year.

In other news, Director John C. Malone sold 550,000 shares of Discovery stock in a transaction that occurred on Thursday, December 3rd. The shares were sold at an average price of $28.61, for a total value of $15,735,500.00. Following the completion of the transaction, the director now owns 787,359 shares in the company, valued at $22,526,340.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.88% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the business. Grimes & Company Inc. bought a new position in Discovery in the 4th quarter valued at about $11,435,000. Hartford Investment Management Co. boosted its position in shares of Discovery by 11.0% during the 4th quarter. Hartford Investment Management Co. now owns 18,004 shares of the company’s stock worth $542,000 after acquiring an additional 1,777 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Discovery during the third quarter valued at $201,000. Alps Advisors Inc. bought a new position in Discovery during the third quarter worth $247,000. Finally, State of Michigan Retirement System grew its holdings in Discovery by 16.2% in the third quarter. State of Michigan Retirement System now owns 47,465 shares of the company’s stock worth $1,033,000 after purchasing an additional 6,600 shares during the period. Institutional investors own 40.84% of the company’s stock.

Discovery Company Profile

Discovery, Inc operates as a media company in the United States and internationally. The company operates in 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, ID, the Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.

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