Discovery Communications (DISCA) Issues Earnings Results, Misses Expectations By $0.10 EPS

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

Shares of DISCA opened at $32.98 on Friday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market cap of $17.28 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 0.56 and a beta of 1.24. Discovery Communications has a 52 week low of $15.99 and a 52 week high of $34.89.

A number of analysts recently commented on DISCA shares. BidaskClub lowered Discovery Communications from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 18th. Zacks Investment Research lowered Discovery Communications from a “hold” rating to a “sell” rating in a report on Wednesday, July 18th. ValuEngine lowered Discovery Communications from a “sell” rating to a “strong sell” rating in a report on Thursday, July 19th. Pivotal Research reissued a “hold” rating and set a $26.00 price objective on shares of Discovery Communications in a report on Tuesday, August 7th. Finally, Barrington Research reissued a “buy” rating and set a $30.00 price objective on shares of Discovery Communications in a report on Tuesday, August 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Discovery Communications has a consensus rating of “Buy” and an average target price of $32.22.

In other news, insider Jean-Briac Perrette sold 93,392 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $31.12, for a total value of $2,906,359.04. Following the transaction, the insider now owns 141,534 shares in the company, valued at approximately $4,404,538.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Savalle Sims sold 1,666 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $28.21, for a total value of $46,997.86. Following the completion of the transaction, the general counsel now owns 208 shares in the company, valued at approximately $5,867.68. The disclosure for this sale can be found here. Insiders have sold a total of 317,374 shares of company stock valued at $8,811,521 over the last three months. Corporate insiders own 6.73% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. NuWave Investment Management LLC lifted its stake in Discovery Communications by 138,044.4% in the third quarter. NuWave Investment Management LLC now owns 12,433 shares of the company’s stock valued at $398,000 after purchasing an additional 12,424 shares during the last quarter. California Public Employees Retirement System lifted its stake in Discovery Communications by 26.4% in the second quarter. California Public Employees Retirement System now owns 359,647 shares of the company’s stock valued at $9,890,000 after purchasing an additional 75,219 shares during the last quarter. grace capital purchased a new position in Discovery Communications in the second quarter valued at approximately $3,442,000. CapWealth Advisors LLC purchased a new position in Discovery Communications in the second quarter valued at approximately $6,423,000. Finally, Schroder Investment Management Group lifted its stake in Discovery Communications by 68.7% in the second quarter. Schroder Investment Management Group now owns 1,056,200 shares of the company’s stock valued at $30,080,000 after purchasing an additional 430,300 shares during the last quarter. Hedge funds and other institutional investors own 37.19% of the company’s stock.

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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 for Discovery Communications (NASDAQ:DISCA)

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