Wall Street brokerages predict that Discovery Communications Inc. (NASDAQ:DISCA) will report sales of $2.50 billion for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Discovery Communications’ earnings. The highest sales estimate is $2.54 billion and the lowest is $2.48 billion. Discovery Communications posted sales of $2.68 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 6.7%. The business is expected to report its next earnings report before the market opens on Thursday, November 5th.
According to Zacks, analysts expect that Discovery Communications will report full year sales of $10.42 billion for the current fiscal year, with estimates ranging from $10.36 billion to $10.56 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $11.26 billion, with estimates ranging from $11.06 billion to $11.42 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Discovery Communications.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.70 by $0.07. The business had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.51 billion. Discovery Communications had a net margin of 12.86% and a return on equity of 21.73%. The company’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share.
A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of Discovery Communications from an “overweight” rating to a “neutral” rating and set a $25.00 target price for the company. in a research report on Wednesday, September 23rd. ValuEngine lowered shares of Discovery Communications from a “sell” rating to a “strong sell” rating in a research report on Monday, August 3rd. Macquarie lowered shares of Discovery Communications from an “outperform” rating to a “neutral” rating and set a $23.00 target price for the company. in a research report on Friday, August 7th. Goldman Sachs Group assumed coverage on shares of Discovery Communications in a research report on Monday, July 13th. They issued a “neutral” rating and a $20.00 target price for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Discovery Communications in a research report on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Discovery Communications has an average rating of “Hold” and a consensus price target of $26.73.
Discovery Communications stock opened at $21.75 on Wednesday. The company has a 50-day simple moving average of $22.54 and a 200-day simple moving average of $21.59. The firm has a market capitalization of $11.02 billion, a P/E ratio of 11.04, a P/E/G ratio of 0.63 and a beta of 1.40. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.83 and a current ratio of 1.83. Discovery Communications has a one year low of $17.12 and a one year high of $33.65.
A number of hedge funds have recently bought and sold shares of DISCA. Legacy Capital Partners Inc. increased its holdings in shares of Discovery Communications by 36.7% in the 2nd quarter. Legacy Capital Partners Inc. now owns 59,242 shares of the company’s stock valued at $1,250,000 after purchasing an additional 15,892 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Discovery Communications by 120.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 116,123 shares of the company’s stock valued at $2,450,000 after purchasing an additional 63,365 shares during the period. Kistler Tiffany Companies LLC increased its holdings in shares of Discovery Communications by 3,540.7% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 15,109 shares of the company’s stock valued at $319,000 after purchasing an additional 14,694 shares during the period. NN Investment Partners Holdings N.V. acquired a new position in shares of Discovery Communications in the 2nd quarter valued at about $1,072,000. Finally, Ensign Peak Advisors Inc increased its holdings in shares of Discovery Communications by 10.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 106,905 shares of the company’s stock valued at $2,256,000 after purchasing an additional 10,040 shares during the period. 38.93% of the stock is 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.
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