Discovery Communications (NASDAQ:DISCA) Upgraded at Bank of America

Bank of America upgraded shares of Discovery Communications (NASDAQ:DISCA) from a neutral rating to a buy rating in a report issued on Thursday, December 21st, MarketBeat Ratings reports. Bank of America currently has $30.00 target price on the stock.

A number of other analysts have also issued reports on the stock. Royal Bank of Canada reiterated a buy rating and set a $29.00 price target on shares of Discovery Communications in a research note on Friday, October 20th. ValuEngine upgraded shares of Discovery Communications from a hold rating to a buy rating in a research note on Wednesday, October 11th. Zacks Investment Research upgraded shares of Discovery Communications from a sell rating to a hold rating in a research note on Thursday, October 12th. Needham & Company LLC reissued a hold rating on shares of Discovery Communications in a research report on Thursday, October 12th. Finally, Cowen reissued a hold rating and set a $25.00 price objective on shares of Discovery Communications in a research report on Friday, September 8th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $24.17.

Shares of Discovery Communications (NASDAQ:DISCA) traded up $0.32 on Thursday, reaching $24.33. 4,081,954 shares of the company’s stock traded hands, compared to its average volume of 6,453,078. Discovery Communications has a 52 week low of $15.99 and a 52 week high of $30.25. The company has a debt-to-equity ratio of 2.56, a quick ratio of 5.87 and a current ratio of 5.87. The firm has a market cap of $8,800.00, a PE ratio of 19.16, a PEG ratio of 1.10 and a beta of 1.56.

Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.12). The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. Discovery Communications had a net margin of 16.63% and a return on equity of 22.24%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 EPS. sell-side analysts predict that Discovery Communications will post 1.94 EPS for the current year.

In other news, CFO Gunnar Wiedenfels purchased 15,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was acquired at an average price of $15.45 per share, for a total transaction of $231,750.00. Following the completion of the transaction, the chief financial officer now directly owns 50,000 shares in the company, valued at approximately $772,500. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Bruce Campbell sold 3,047 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $18.17, for a total value of $55,363.99. Following the completion of the transaction, the insider now owns 43,173 shares of the company’s stock, valued at approximately $784,453.41. The disclosure for this sale can be found here. Insiders acquired 527,523 shares of company stock valued at $9,629,104 in the last quarter. 6.81% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in shares of Discovery Communications by 437.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock valued at $102,000 after acquiring an additional 3,230 shares during the last quarter. Flossbach Von Storch AG acquired a new stake in shares of Discovery Communications during the third quarter valued at $208,000. OLD National Bancorp IN acquired a new stake in shares of Discovery Communications during the third quarter valued at $222,000. MUFG Americas Holdings Corp boosted its stake in shares of Discovery Communications by 13.9% during the second quarter. MUFG Americas Holdings Corp now owns 8,997 shares of the company’s stock valued at $232,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Advisor Group Inc. boosted its stake in shares of Discovery Communications by 27.7% during the second quarter. Advisor Group Inc. now owns 9,100 shares of the company’s stock valued at $235,000 after acquiring an additional 1,975 shares during the last quarter. Institutional investors and hedge funds own 48.12% of the company’s stock.

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Discovery Communications Company Profile

Discovery Communications, Inc (Discovery) is a global media company. The Company provides content across multiple distribution platforms, including pay-television (pay-TV), free-to-air (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments include U.S.

Analyst Recommendations for Discovery Communications (NASDAQ:DISCA)

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