Discovery Communications (NASDAQ:DISCA) Issues Quarterly Earnings Results

Discovery Communications (NASDAQ:DISCA) issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($0.01), Morningstar.com reports. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.89 billion. Discovery Communications had a net margin of 15.62% and a return on equity of 21.53%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 EPS.

Shares of NASDAQ DISCA opened at $27.17 on Friday. The business’s 50 day moving average price is $30.67 and its two-hundred day moving average price is $29.22. The company has a market cap of $15.91 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 0.41 and a beta of 1.53. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.32. Discovery Communications has a twelve month low of $23.79 and a twelve month high of $34.89.

Several research firms have recently commented on DISCA. Wolfe Research cut Discovery Communications from an “outperform” rating to a “peer perform” rating in a research note on Thursday, May 30th. BidaskClub cut Discovery Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Imperial Capital lifted their target price on Discovery Communications from $29.00 to $30.00 and gave the company an “in-line” rating in a research note on Monday, June 24th. Finally, ValuEngine cut Discovery Communications from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. Discovery Communications has a consensus rating of “Buy” and a consensus price target of $33.89.

In other news, General Counsel Savalle Sims sold 3,085 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $30.18, for a total value of $93,105.30. Following the transaction, the general counsel now owns 46,388 shares of the company’s stock, valued at $1,399,989.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter Faricy bought 35,900 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average cost of $27.91 per share, for a total transaction of $1,001,969.00. Following the transaction, the chief executive officer now directly owns 182,367 shares of the company’s stock, valued at approximately $5,089,862.97. The disclosure for this purchase can be found here. 4.43% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Voit & Company LLC increased its holdings in Discovery Communications by 3.2% in the first quarter. Voit & Company LLC now owns 15,900 shares of the company’s stock valued at $430,000 after purchasing an additional 500 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Discovery Communications by 4.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 74,397 shares of the company’s stock valued at $2,010,000 after purchasing an additional 3,508 shares during the period. DNB Asset Management AS increased its holdings in Discovery Communications by 342.3% in the first quarter. DNB Asset Management AS now owns 61,337 shares of the company’s stock valued at $1,657,000 after purchasing an additional 47,470 shares during the period. US Bancorp DE increased its holdings in Discovery Communications by 291.4% in the first quarter. US Bancorp DE now owns 55,249 shares of the company’s stock valued at $1,493,000 after purchasing an additional 41,133 shares during the period. Finally, Inlet Private Wealth LLC acquired a new stake in Discovery Communications in the first quarter valued at $203,000. 35.17% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History for Discovery Communications (NASDAQ:DISCA)

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