Norges Bank purchased a new stake in shares of Discovery Communications Inc. (NASDAQ:DISCA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,492,844 shares of the company’s stock, valued at approximately $40,919,000. Norges Bank owned about 0.26% of Discovery Communications as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of DISCA. Virtus Investment Advisers Inc. acquired a new stake in Discovery Communications during the third quarter valued at approximately $105,000. Toronto Dominion Bank boosted its stake in Discovery Communications by 433.8% in the third quarter. Toronto Dominion Bank now owns 4,404 shares of the company’s stock valued at $119,000 after buying an additional 3,579 shares during the period. Thompson Siegel & Walmsley LLC acquired a new stake in Discovery Communications during the fourth quarter valued at approximately $128,000. Pacad Investment Ltd. acquired a new stake in Discovery Communications during the fourth quarter valued at approximately $145,000. Finally, Acrospire Investment Management LLC boosted its stake in Discovery Communications by 113.8% in the third quarter. Acrospire Investment Management LLC now owns 6,200 shares of the company’s stock valued at $167,000 after buying an additional 3,300 shares during the period. Hedge funds and other institutional investors own 41.96% of the company’s stock.
Discovery Communications Inc. (NASDAQ:DISCA) traded down 0.55% during mid-day trading on Friday, reaching $29.16. The company’s stock had a trading volume of 1,440,143 shares. The firm’s 50 day moving average is $28.29 and its 200-day moving average is $27.71. Discovery Communications Inc. has a 12-month low of $23.66 and a 12-month high of $30.25. The company has a market cap of $17.07 billion, a PE ratio of 14.90 and a beta of 1.60.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings results on Tuesday, February 14th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.09. Discovery Communications had a return on equity of 22.76% and a net margin of 17.14%. The firm earned $1.67 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the firm earned $0.38 EPS. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities analysts anticipate that Discovery Communications Inc. will post $2.15 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY WARNING: “Norges Bank Purchases New Position in Discovery Communications Inc. (DISCA)” was first published by BBNS and is the property of of BBNS. If you are accessing this story on another website, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this story can be viewed at https://baseballnewssource.com/markets/norges-bank-takes-position-in-discovery-communications-inc-disca-updated-updated/525995.html.
Several research analysts have issued reports on DISCA shares. Barclays PLC cut Discovery Communications from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $28.00 to $25.00 in a research report on Thursday, January 5th. Zacks Investment Research cut Discovery Communications from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 25th. Jefferies Group LLC reissued a “hold” rating and issued a $28.00 target price on shares of Discovery Communications in a research report on Wednesday, February 22nd. Credit Suisse Group AG reissued an “underperform” rating and issued a $23.00 target price on shares of Discovery Communications in a research report on Saturday, January 28th. Finally, Pivotal Research cut Discovery Communications from a “buy” rating to a “hold” rating and dropped their target price for the stock from $33.00 to $28.00 in a research report on Thursday, January 12th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $29.28.
About Discovery Communications
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.
Receive News & Ratings for Discovery Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discovery Communications Inc. and related companies with our FREE daily email newsletter.