Discovery Communications (NASDAQ:DISCA) Downgraded by ValuEngine to Sell

ValuEngine cut shares of Discovery Communications (NASDAQ:DISCA) from a hold rating to a sell rating in a research note released on Tuesday morning, ValuEngine reports.

A number of other equities research analysts have also recently issued reports on the stock. Wells Fargo & Co began coverage on shares of Discovery Communications in a research report on Monday, September 23rd. They set an outperform rating and a $35.00 target price for the company. Rosenblatt Securities boosted their price target on shares of Discovery Communications from $30.00 to $33.00 and gave the company a neutral rating in a research report on Sunday, November 10th. Imperial Capital raised shares of Discovery Communications from an in-line rating to an outperform rating and upped their price objective for the stock from $29.00 to $34.00 in a research note on Tuesday, October 22nd. BidaskClub lowered shares of Discovery Communications from a hold rating to a sell rating in a report on Wednesday, August 28th. Finally, UBS Group raised their price objective on shares of Discovery Communications from $30.00 to $33.00 and gave the stock a neutral rating in a report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $33.88.

Shares of DISCA opened at $32.13 on Tuesday. Discovery Communications has a 12-month low of $23.79 and a 12-month high of $33.65. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $17.30 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 0.51 and a beta of 1.62. The stock’s 50-day moving average price is $29.71 and its 200 day moving average price is $29.00.

Discovery Communications (NASDAQ:DISCA) last issued its earnings results on Thursday, November 7th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.82 by $0.05. Discovery Communications had a return on equity of 23.29% and a net margin of 16.81%. The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the business earned $0.79 earnings per share. Discovery Communications’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts expect that Discovery Communications will post 3.67 EPS for the current year.

In related news, insider David Leavy sold 44,970 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $32.25, for a total transaction of $1,450,282.50. Following the sale, the insider now owns 211,883 shares of the company’s stock, valued at approximately $6,833,226.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bruce Campbell sold 25,000 shares of Discovery Communications stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $33.01, for a total value of $825,250.00. Following the transaction, the insider now owns 364,219 shares in the company, valued at $12,022,869.19. The disclosure for this sale can be found here. Insiders have sold a total of 70,570 shares of company stock valued at $2,292,705 over the last 90 days. Corporate insiders own 4.43% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Discovery Communications by 12.4% during the second quarter. Vanguard Group Inc. now owns 19,303,196 shares of the company’s stock worth $592,608,000 after buying an additional 2,134,191 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Discovery Communications by 790.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,765,724 shares of the company’s stock worth $54,207,000 after acquiring an additional 1,567,374 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Discovery Communications by 62.7% during the 2nd quarter. Wells Fargo & Company MN now owns 3,453,246 shares of the company’s stock worth $106,015,000 after acquiring an additional 1,330,279 shares in the last quarter. Goldentree Asset Management LP bought a new position in shares of Discovery Communications during the 2nd quarter worth approximately $36,919,000. Finally, Zimmer Partners LP raised its holdings in shares of Discovery Communications by 92.8% in the third quarter. Zimmer Partners LP now owns 1,759,100 shares of the company’s stock valued at $46,845,000 after purchasing an additional 846,600 shares during the last quarter. 35.39% of the stock is owned by institutional investors and hedge funds.

About Discovery Communications

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.

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Analyst Recommendations for Discovery Communications (NASDAQ:DISCA)

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