Discovery Communications Inc. (NASDAQ:DISCA) Expected to Post Quarterly Sales of $2.67 Billion

Brokerages expect Discovery Communications Inc. (NASDAQ:DISCA) to report $2.67 billion in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Discovery Communications’ earnings. The highest sales estimate is $2.68 billion and the lowest is $2.67 billion. Discovery Communications posted sales of $2.59 billion in the same quarter last year, which suggests a positive year over year growth rate of 3.1%. The firm is expected to announce its next earnings results on Thursday, November 14th.

According to Zacks, analysts expect that Discovery Communications will report full year sales of $11.17 billion for the current year, with estimates ranging from $11.16 billion to $11.20 billion. For the next financial year, analysts anticipate that the firm will report sales of $11.88 billion, with estimates ranging from $11.34 billion to $12.14 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Discovery Communications.

Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.98 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.01). Discovery Communications had a return on equity of 21.53% and a net margin of 15.62%. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the firm posted $0.77 earnings per share. The business’s revenue was up 1.4% on a year-over-year basis.



A number of equities analysts have issued reports on DISCA shares. ValuEngine lowered Discovery Communications from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. Imperial Capital upped their target price on Discovery Communications from $29.00 to $30.00 and gave the company an “in-line” rating in a research report on Monday, June 24th. Wolfe Research lowered Discovery Communications from an “outperform” rating to a “peer perform” rating in a research report on Thursday, May 30th. Finally, BidaskClub lowered Discovery Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $34.96.

Shares of DISCA traded down $0.25 during trading on Friday, reaching $28.03. The company’s stock had a trading volume of 2,461,449 shares, compared to its average volume of 3,996,007. The company has a fifty day moving average of $30.39 and a two-hundred day moving average of $29.20. Discovery Communications has a twelve month low of $23.79 and a twelve month high of $34.89. The company has a market cap of $15.07 billion, a price-to-earnings ratio of 13.28, a P/E/G ratio of 0.41 and a beta of 1.53. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.32.

In related news, General Counsel Savalle Sims sold 3,085 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $30.18, for a total transaction of $93,105.30. Following the sale, the general counsel now directly owns 46,388 shares of the company’s stock, valued at approximately $1,399,989.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Bruce Campbell sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $28.89, for a total value of $288,900.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,144 shares of company stock worth $412,081. Corporate insiders own 4.43% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Discovery Communications by 12.4% in the second quarter. Vanguard Group Inc. now owns 19,303,196 shares of the company’s stock worth $592,608,000 after purchasing an additional 2,134,191 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Discovery Communications by 17.4% in the first quarter. JPMorgan Chase & Co. now owns 10,743,754 shares of the company’s stock valued at $290,295,000 after buying an additional 1,595,179 shares during the period. BlackRock Inc. lifted its holdings in shares of Discovery Communications by 0.8% in the second quarter. BlackRock Inc. now owns 10,691,122 shares of the company’s stock valued at $328,218,000 after buying an additional 85,421 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Discovery Communications by 62.7% in the second quarter. Wells Fargo & Company MN now owns 3,453,246 shares of the company’s stock valued at $106,015,000 after buying an additional 1,330,279 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Discovery Communications by 19.2% in the fourth quarter. Geode Capital Management LLC now owns 2,741,634 shares of the company’s stock valued at $67,746,000 after buying an additional 441,740 shares during the period. Hedge funds and other institutional investors own 35.20% 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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