Discovery Communications Inc. (NASDAQ:DISCA) – Investment analysts at Imperial Capital reduced their FY2020 earnings per share estimates for Discovery Communications in a report released on Wednesday, November 7th. Imperial Capital analyst D. Miller now anticipates that the company will earn $3.08 per share for the year, down from their prior estimate of $3.21. Imperial Capital has a “Outperform” rating and a $37.00 price target on the stock.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings results on Thursday, November 8th. The company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.10). The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Discovery Communications had a negative net margin of 8.28% and a positive return on equity of 17.68%. The company’s quarterly revenue was up 57.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.43 EPS.
Shares of DISCA opened at $32.98 on Thursday. The firm has a market cap of $17.28 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 0.56 and a beta of 1.24. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.45 and a quick ratio of 1.45. Discovery Communications has a twelve month low of $15.99 and a twelve month high of $34.89.
In related news, insider Bruce Campbell sold 31,462 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $30.00, for a total value of $943,860.00. Following the completion of the transaction, the insider now directly owns 72,256 shares in the company, valued at approximately $2,167,680. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth W. Lowe sold 183,621 shares of the 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 completion of the transaction, the director now owns 1,331,277 shares of the company’s stock, valued at $34,054,065.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 317,374 shares of company stock valued at $8,811,521. 6.73% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Truvestments Capital LLC bought a new stake in Discovery Communications during the 3rd quarter valued at about $122,000. FNY Investment Advisers LLC bought a new stake in Discovery Communications during the 3rd quarter valued at about $172,000. Dupont Capital Management Corp increased its stake in Discovery Communications by 108.8% during 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 in the last quarter. Chicago Equity Partners LLC bought a new stake in Discovery Communications during the 3rd quarter valued at about $200,000. Finally, Engineers Gate Manager LP bought a new stake in Discovery Communications during the 3rd quarter valued at about $202,000. Institutional investors and hedge funds own 37.19% of the company’s stock.
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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