Equities research analysts expect Discovery Communications Inc. (NASDAQ:DISCA) to post $1.94 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Discovery Communications’ earnings, with estimates ranging from $1.84 billion to $2.00 billion. Discovery Communications reported sales of $1.61 billion during the same quarter last year, which indicates a positive year over year growth rate of 20.5%. The firm is expected to report its next quarterly earnings report on Tuesday, May 8th.
According to Zacks, analysts expect that Discovery Communications will report full-year sales of $1.94 billion for the current financial year, with estimates ranging from $7.17 billion to $7.77 billion. For the next year, analysts expect that the business will report sales of $7.55 billion per share, with estimates ranging from $7.04 billion to $7.81 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Discovery Communications.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.08. Discovery Communications had a negative net margin of 4.90% and a positive return on equity of 21.68%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the firm posted $0.56 EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year.
A number of brokerages have commented on DISCA. Barrington Research raised shares of Discovery Communications from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research report on Tuesday, January 2nd. BidaskClub raised shares of Discovery Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Bank of America raised shares of Discovery Communications from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Thursday, December 21st. ValuEngine downgraded shares of Discovery Communications from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Zacks Investment Research raised shares of Discovery Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $24.50.
In related news, insider David Leavy sold 20,673 shares of the stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $23.41, for a total transaction of $483,954.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bruce Campbell sold 3,047 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $18.17, for a total transaction of $55,363.99. Following the sale, the insider now owns 43,173 shares of the company’s stock, valued at approximately $784,453.41. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,696 shares of company stock valued at $882,803. 6.81% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of DISCA. Hotchkis & Wiley Capital Management LLC lifted its stake 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 during the period. Clearbridge Investments LLC lifted its stake in shares of Discovery Communications by 4.0% in the 4th quarter. Clearbridge Investments LLC now owns 18,325,805 shares of the company’s stock worth $410,132,000 after acquiring an additional 709,288 shares during the period. Bank of New York Mellon Corp lifted its stake 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 during the period. Wells Fargo & Company MN lifted its stake in shares of Discovery Communications by 2.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,030,018 shares of the company’s stock worth $45,433,000 after acquiring an additional 56,827 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Discovery Communications by 25.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,881,497 shares of the company’s stock worth $40,058,000 after acquiring an additional 383,048 shares during the period. Hedge funds and other institutional investors own 49.11% of the company’s stock.
Shares of Discovery Communications (NASDAQ:DISCA) opened at $24.19 on Friday. Discovery Communications has a 52-week low of $15.99 and a 52-week high of $30.25. The company has a debt-to-equity ratio of 3.20, a current ratio of 5.34 and a quick ratio of 5.34. The company has a market cap of $9,238.33, a P/E ratio of -40.32, a price-to-earnings-growth ratio of 1.21 and a beta of 1.52.
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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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