BidaskClub Lowers Discovery Communications (NASDAQ:DISCA) to Hold

BidaskClub downgraded shares of Discovery Communications (NASDAQ:DISCA) from a buy rating to a hold rating in a report issued on Tuesday, BidAskClub reports.

A number of other research firms have also issued reports on DISCA. TheStreet upgraded Discovery Communications from a c rating to a b rating in a research note on Tuesday, February 26th. Credit Suisse Group increased their target price on Discovery Communications from $40.00 to $41.00 and gave the company an outperform rating in a research note on Wednesday, February 27th. Barrington Research reiterated a buy rating and issued a $40.00 target price on shares of Discovery Communications in a research note on Tuesday, February 26th. Wolfe Research lowered Discovery Communications from an outperform rating to a peer perform rating in a research note on Thursday, May 30th. Finally, ValuEngine downgraded Discovery Communications from a hold rating to a sell rating in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $33.89.

Shares of NASDAQ:DISCA opened at $29.89 on Tuesday. The stock has a market cap of $15.34 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 0.40 and a beta of 1.43. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. Discovery Communications has a 12 month low of $23.79 and a 12 month high of $34.89.

Discovery Communications (NASDAQ:DISCA) last posted its earnings results on Thursday, May 2nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. Discovery Communications had a return on equity of 20.10% and a net margin of 9.00%. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.72 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. Research analysts predict that Discovery Communications will post 3.81 EPS for the current fiscal year.

In other Discovery Communications news, insider Bruce Campbell sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $28.89, for a total transaction of $288,900.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Peter Faricy bought 35,900 shares of Discovery Communications stock in a transaction on Tuesday, May 28th. The shares were purchased at an average cost of $27.91 per share, for a total transaction of $1,001,969.00. Following the acquisition, the chief executive officer now owns 182,367 shares in the company, valued at $5,089,862.97. The disclosure for this purchase can be found here. Corporate insiders own 4.43% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in DISCA. Oregon Public Employees Retirement Fund lifted its holdings in Discovery Communications by 4,198.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,944,085 shares of the company’s stock worth $119,000 after buying an additional 2,875,598 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Discovery Communications by 17.4% during the 1st quarter. JPMorgan Chase & Co. now owns 10,743,754 shares of the company’s stock worth $290,295,000 after buying an additional 1,595,179 shares during the last quarter. FMR LLC lifted its holdings in Discovery Communications by 10.4% during the 4th quarter. FMR LLC now owns 13,217,760 shares of the company’s stock worth $327,007,000 after buying an additional 1,243,094 shares during the last quarter. BlackRock Inc. lifted its holdings in Discovery Communications by 11.8% during the 4th quarter. BlackRock Inc. now owns 10,885,778 shares of the company’s stock worth $269,315,000 after buying an additional 1,151,368 shares during the last quarter. Finally, TCW Group Inc. lifted its holdings in Discovery Communications by 2,789.9% during the 1st quarter. TCW Group Inc. now owns 1,142,859 shares of the company’s stock worth $30,880,000 after buying an additional 1,103,312 shares during the last quarter. 34.49% of the stock is currently owned by institutional investors.

Discovery Communications Company Profile

Discovery, Inc operates as a media company worldwide. The company operates through 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, the Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.

See Also: What is the significance of a dead cat bounce?

Analyst Recommendations for Discovery Communications (NASDAQ:DISCA)

Receive News & Ratings for Discovery Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discovery Communications and related companies with MarketBeat.com's FREE daily email newsletter.