Discovery Communications, Inc. (DISCA) Expected to Post Quarterly Sales of $1.75 Billion

Wall Street analysts expect Discovery Communications, Inc. (NASDAQ:DISCA) to post $1.75 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Discovery Communications’ earnings, with the highest sales estimate coming in at $1.78 billion and the lowest estimate coming in at $1.69 billion. Discovery Communications posted sales of $1.71 billion in the same quarter last year, which suggests a positive year over year growth rate of 2.3%. The firm is scheduled to issue its next earnings report before the market opens on Tuesday, August 8th.

According to Zacks, analysts expect that Discovery Communications will report full-year sales of $1.75 billion for the current financial year, with estimates ranging from $6.76 billion to $6.87 billion. For the next year, analysts anticipate that the company will post sales of $7.33 billion per share, with estimates ranging from $7.03 billion to $7.60 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Discovery Communications.

Discovery Communications (NASDAQ:DISCA) last issued its quarterly earnings data on Tuesday, May 9th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by $0.08. Discovery Communications had a return on equity of 23.67% and a net margin of 17.50%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the business earned $0.46 EPS. Discovery Communications’s revenue for the quarter was up 3.3% compared to the same quarter last year.

A number of research analysts recently weighed in on the company. BidaskClub lowered Discovery Communications from a “hold” rating to a “sell” rating in a report on Friday. Jefferies Group LLC reissued a “hold” rating and issued a $28.00 target price on shares of Discovery Communications in a report on Friday, June 16th. Royal Bank Of Canada set a $32.00 target price on Discovery Communications and gave the company a “buy” rating in a report on Monday, June 12th. Moffett Nathanson reaffirmed a “sell” rating on shares of Discovery Communications in a research note on Friday, June 9th. Finally, ValuEngine lowered Discovery Communications from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $29.07.

Discovery Communications (DISCA) traded up 1.06% during midday trading on Thursday, reaching $25.79. 4,660,857 shares of the company were exchanged. Discovery Communications has a 52-week low of $23.66 and a 52-week high of $30.25. The company has a market capitalization of $11.42 billion, a price-to-earnings ratio of 13.49 and a beta of 1.61. The company has a 50 day moving average of $26.24 and a 200-day moving average of $27.76.

In other Discovery Communications news, insider Bruce Campbell sold 9,283 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $26.43, for a total transaction of $245,349.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul A. Gould sold 8,832 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $25.98, for a total value of $229,455.36. Following the sale, the director now owns 188,676 shares of the company’s stock, valued at approximately $4,901,802.48. The disclosure for this sale can be found here. 5.78% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Mn Services Vermogensbeheer B.V. raised its stake in shares of Discovery Communications by 5.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,915 shares of the company’s stock worth $106,000 after buying an additional 215 shares during the period. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Discovery Communications during the fourth quarter worth $128,000. Daiwa Securities Group Inc. raised its stake in shares of Discovery Communications by 24.7% in the first quarter. Daiwa Securities Group Inc. now owns 4,540 shares of the company’s stock worth $132,000 after buying an additional 900 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Discovery Communications during the first quarter worth $134,000. Finally, Pacad Investment Ltd. acquired a new stake in shares of Discovery Communications during the fourth quarter worth $145,000. Hedge funds and other institutional investors own 44.55% of the company’s stock.

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About Discovery Communications

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:DISCA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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