Discovery Communications, Inc. (NASDAQ:DISCA) had its price objective cut by B. Riley from $23.00 to $19.00 in a research note issued to investors on Wednesday, November 8th, MarketBeat Ratings reports. They currently have a neutral rating on the stock. B. Riley also issued estimates for Discovery Communications’ Q4 2017 earnings at $0.42 EPS, FY2017 earnings at $1.93 EPS, FY2018 earnings at $2.29 EPS, FY2019 earnings at $2.42 EPS and FY2020 earnings at $2.69 EPS.
DISCA has been the subject of a number of other research reports. Wells Fargo & Company assumed coverage on Discovery Communications in a research report on Thursday, July 20th. They issued a market perform rating and a $28.00 price target for the company. Credit Suisse Group reiterated an underperform rating and issued a $24.00 price target on shares of Discovery Communications in a research report on Saturday, July 22nd. BidaskClub downgraded Discovery Communications from a hold rating to a sell rating in a research note on Friday, July 28th. Cowen Inc reaffirmed a hold rating and set a $29.00 price target on shares of Discovery Communications in a research note on Tuesday, July 11th. Finally, Deutsche Bank AG reaffirmed a hold rating and set a $30.00 price target (down from $32.00) on shares of Discovery Communications in a research note on Friday, July 14th. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. Discovery Communications presently has a consensus rating of Hold and a consensus target price of $24.27.
Discovery Communications (NASDAQ:DISCA) opened at $17.47 on Wednesday. Discovery Communications has a 52-week low of $15.99 and a 52-week high of $30.25. The stock has a market capitalization of $6,633.44, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 0.95 and a beta of 1.55. The company has a debt-to-equity ratio of 2.56, a current ratio of 5.87 and a quick ratio of 5.87.
In other news, CFO Gunnar Wiedenfels bought 15,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was bought at an average price of $15.45 per share, for a total transaction of $231,750.00. Following the completion of the transaction, the chief financial officer now directly owns 50,000 shares in the company, valued at approximately $772,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J David Wargo bought 80,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were purchased at an average price of $15.80 per share, with a total value of $1,264,000.00. Following the transaction, the director now owns 147,591 shares of the company’s stock, valued at $2,331,937.80. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 195,000 shares of company stock valued at $3,071,750. Corporate insiders own 6.81% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Discovery Communications by 0.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 18,729,826 shares of the company’s stock valued at $398,758,000 after purchasing an additional 123,603 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Discovery Communications by 5.4% in the second quarter. Vanguard Group Inc. now owns 16,661,316 shares of the company’s stock valued at $430,362,000 after purchasing an additional 858,015 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Discovery Communications by 12.2% in the third quarter. Bank of New York Mellon Corp now owns 11,966,987 shares of the company’s stock valued at $254,779,000 after purchasing an additional 1,297,175 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Discovery Communications by 2.0% in the second quarter. BlackRock Inc. now owns 9,533,783 shares of the company’s stock valued at $246,259,000 after purchasing an additional 187,781 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Discovery Communications by 5.4% in the second quarter. State Street Corp now owns 7,346,135 shares of the company’s stock valued at $189,736,000 after purchasing an additional 376,975 shares in the last quarter. 48.25% of the stock is owned by institutional investors and hedge funds.
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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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