Discovery Communications Inc. to Post Q3 2019 Earnings of $0.79 Per Share, Barrington Research Forecasts (NASDAQ:DISCA)

Discovery Communications Inc. (NASDAQ:DISCA) – Analysts at Barrington Research decreased their Q3 2019 EPS estimates for shares of Discovery Communications in a report issued on Monday, August 12th. Barrington Research analyst J. Goss now anticipates that the company will post earnings of $0.79 per share for the quarter, down from their previous forecast of $0.82. Barrington Research also issued estimates for Discovery Communications’ Q4 2019 earnings at $0.93 EPS, Q1 2020 earnings at $0.90 EPS, Q2 2020 earnings at $1.10 EPS, Q3 2020 earnings at $0.86 EPS, Q4 2020 earnings at $1.13 EPS and FY2020 earnings at $4.00 EPS.

Discovery Communications (NASDAQ:DISCA) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). Discovery Communications had a return on equity of 21.53% and a net margin of 15.62%. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The firm’s revenue was up 1.4% compared to the same quarter last year.



Several other analysts also recently weighed in on the stock. ValuEngine downgraded shares of Discovery Communications from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. BidaskClub downgraded shares of Discovery Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Wolfe Research downgraded shares of Discovery Communications from an “outperform” rating to a “peer perform” rating in a research report on Thursday, May 30th. Finally, Imperial Capital boosted their price objective on shares of Discovery Communications from $29.00 to $30.00 and gave the stock an “in-line” rating in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $33.89.

Shares of Discovery Communications stock opened at $27.17 on Wednesday. Discovery Communications has a 52-week low of $23.79 and a 52-week high of $34.89. The company has a 50 day moving average of $30.67 and a 200 day moving average of $29.22. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $15.35 billion, a P/E ratio of 12.88, a P/E/G ratio of 0.41 and a beta of 1.53.

Several hedge funds and other institutional investors have recently modified their holdings of DISCA. California Public Employees Retirement System lifted its holdings in Discovery Communications by 14.1% in the 2nd quarter. California Public Employees Retirement System now owns 228,099 shares of the company’s stock valued at $7,003,000 after purchasing an additional 28,256 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Discovery Communications by 27.7% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 14,272 shares of the company’s stock valued at $438,000 after purchasing an additional 3,095 shares in the last quarter. Worldquant Millennium Advisors LLC lifted its holdings in Discovery Communications by 89.6% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 705,648 shares of the company’s stock valued at $21,663,000 after purchasing an additional 333,491 shares in the last quarter. Zimmer Partners LP lifted its holdings in Discovery Communications by 40.4% in the 2nd quarter. Zimmer Partners LP now owns 912,500 shares of the company’s stock valued at $28,014,000 after purchasing an additional 262,500 shares in the last quarter. Finally, Doyle Wealth Management purchased a new position in Discovery Communications in the 2nd quarter valued at about $91,000. Institutional investors own 35.17% of the company’s stock.

In other Discovery Communications news, insider Bruce Campbell sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $28.89, for a total transaction of $288,900.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Faricy bought 35,900 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were bought at an average price of $27.91 per share, for a total transaction of $1,001,969.00. Following the completion of the transaction, the chief executive officer now directly owns 182,367 shares in the company, valued at approximately $5,089,862.97. The disclosure for this purchase can be found here. Insiders own 4.43% of the company’s stock.

About Discovery Communications

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 and Estimates for Discovery Communications (NASDAQ:DISCA)

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