Equities Analysts Set Expectations for Discovery Communications Inc.’s Q3 2019 Earnings (DISCA)

Discovery Communications Inc. (NASDAQ:DISCA) – Equities research analysts at Imperial Capital lifted their Q3 2019 EPS estimates for shares of Discovery Communications in a report issued on Wednesday, November 7th. Imperial Capital analyst D. Miller now forecasts that the company will post earnings per share of $0.53 for the quarter, up from their prior forecast of $0.52. Imperial Capital currently has a “Outperform” rating and a $37.00 target price on the stock.

Discovery Communications (NASDAQ:DISCA) last issued its quarterly earnings results on Thursday, November 8th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Discovery Communications had a negative net margin of 8.28% and a positive return on equity of 17.68%. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the previous year, the firm posted $0.43 earnings per share. The firm’s quarterly revenue was up 57.0% on a year-over-year basis.

Several other brokerages have also issued reports on DISCA. Pivotal Research reiterated a “sell” rating and issued a $27.00 price target (up from $26.00) on shares of Discovery Communications in a research note on Friday. MKM Partners lifted their price objective on shares of Discovery Communications to $40.00 and gave the company a “buy” rating in a research report on Monday, November 5th. Credit Suisse Group raised shares of Discovery Communications from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $30.00 to $40.00 in a research report on Wednesday, October 10th. JPMorgan Chase & Co. lifted their price objective on shares of Discovery Communications to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 10th. They noted that the move was a valuation call. Finally, Macquarie set a $38.00 price objective on shares of Discovery Communications and gave the company a “buy” rating in a research report on Friday, September 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $32.22.

Shares of DISCA stock opened at $32.98 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.84. Discovery Communications has a 1 year low of $15.99 and a 1 year high of $34.89. The firm has a market capitalization of $17.28 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 0.56 and a beta of 1.24.

In related news, insider Bruce Campbell sold 31,462 shares of Discovery Communications stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $30.00, for a total transaction of $943,860.00. Following the completion of the sale, the insider now owns 72,256 shares of the company’s stock, valued at approximately $2,167,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth W. Lowe sold 183,621 shares of Discovery Communications stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $25.58, for a total transaction of $4,697,025.18. Following the sale, the director now directly owns 1,331,277 shares of the company’s stock, valued at approximately $34,054,065.66. The disclosure for this sale can be found here. In the last three months, insiders sold 317,374 shares of company stock valued at $8,811,521. Insiders own 6.73% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Truvestments Capital LLC bought a new stake in Discovery Communications in the 3rd quarter valued at about $122,000. FNY Investment Advisers LLC bought a new stake in Discovery Communications in the 3rd quarter valued at about $172,000. Dupont Capital Management Corp boosted its holdings in Discovery Communications by 108.8% in the 2nd quarter. Dupont Capital Management Corp now owns 6,010 shares of the company’s stock valued at $165,000 after purchasing an additional 3,132 shares during the period. Chicago Equity Partners LLC bought a new stake in Discovery Communications in the 3rd quarter valued at about $200,000. Finally, Engineers Gate Manager LP bought a new stake in Discovery Communications in the 3rd quarter valued at about $202,000. 37.19% 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 U.S. Networks, International Networks, and Education and Other segments. It owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, Velocity, Discovery Family Channel, Destination America, American Heroes Channel, Discovery Life, The Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.

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Earnings History and Estimates for Discovery Communications (NASDAQ:DISCA)

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