Discovery (NASDAQ:DISCA) was upgraded by stock analysts at Barclays from an “underweight” rating to an “equal weight” rating in a report issued on Monday, March 12th, MarketBeat reports. The firm currently has a $23.00 price target on the stock, up from their prior price target of $18.00. Barclays’ price objective would indicate a potential upside of 0.22% from the company’s current price.
Other analysts have also recently issued reports about the stock. Barrington Research raised shares of Discovery from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Tuesday, January 2nd. BidaskClub upgraded shares of Discovery from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Bank of America upgraded shares of Discovery from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Thursday, December 21st. ValuEngine lowered shares of Discovery from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Zacks Investment Research upgraded shares of Discovery from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $24.89.
Shares of DISCA stock opened at $22.95 on Monday. The company has a debt-to-equity ratio of 3.20, a quick ratio of 5.34 and a current ratio of 5.34. Discovery has a 12-month low of $15.99 and a 12-month high of $30.25. The stock has a market cap of $8,864.06, a P/E ratio of -38.25, a PEG ratio of 1.02 and a beta of 1.52.
Discovery (NASDAQ:DISCA) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.08. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Discovery had a negative net margin of 4.90% and a positive return on equity of 21.68%. The company’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the company posted $0.56 EPS. sell-side analysts anticipate that Discovery will post 2.59 earnings per share for the current year.
In other news, General Counsel Savalle Sims sold 2,571 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $24.08, for a total value of $61,909.68. Following the completion of the sale, the general counsel now directly owns 36,640 shares of the company’s stock, valued at approximately $882,291.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bruce Campbell sold 15,976 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $21.50, for a total transaction of $343,484.00. Following the completion of the sale, the insider now directly owns 85,298 shares of the company’s stock, valued at $1,833,907. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,220 shares of company stock valued at $889,349. 6.81% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Cowen Inc. acquired a new stake in Discovery during the third quarter valued at approximately $5,880,000. Reinhart Partners Inc. lifted its stake in Discovery by 41.4% during the fourth quarter. Reinhart Partners Inc. now owns 1,270,171 shares of the company’s stock valued at $28,426,000 after purchasing an additional 372,184 shares during the last quarter. FDx Advisors Inc. lifted its stake in Discovery by 169.5% during the third quarter. FDx Advisors Inc. now owns 25,243 shares of the company’s stock valued at $537,000 after purchasing an additional 15,875 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Discovery by 25.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,881,497 shares of the company’s stock valued at $40,058,000 after purchasing an additional 383,048 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in Discovery by 26.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 34,087 shares of the company’s stock valued at $763,000 after purchasing an additional 7,079 shares during the last quarter. 48.76% of the stock is owned by institutional investors and hedge funds.
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Discovery, Inc, formerly Discovery Communications, Inc, 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.
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