Discovery (NASDAQ:DISCA) Price Target Raised to $65.00

Discovery (NASDAQ:DISCA) had its price objective increased by analysts at Wells Fargo & Company from $42.00 to $65.00 in a report issued on Tuesday, The Fly reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 18.18% from the stock’s previous close. The analysts noted that the move was a valuation call.

Several other research analysts have also commented on the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on Discovery from $28.00 to $36.00 in a report on Wednesday, January 6th. KeyCorp initiated coverage on Discovery in a report on Tuesday, December 8th. They set a “sector weight” rating and a $31.00 price target on the stock. Barclays boosted their price objective on shares of Discovery from $29.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday. Rosenblatt Securities restated a “hold” rating on shares of Discovery in a report on Monday. Finally, MKM Partners restated a “neutral” rating and issued a $30.00 price objective (up from $27.00) on shares of Discovery in a report on Thursday, December 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $35.33.

NASDAQ DISCA opened at $55.00 on Tuesday. Discovery has a 52 week low of $17.12 and a 52 week high of $56.02. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.29. The business’s fifty day simple moving average is $40.63 and its 200-day simple moving average is $28.07. The firm has a market cap of $27.01 billion, a PE ratio of 26.84, a P/E/G ratio of 0.88 and a beta of 1.53.

Discovery (NASDAQ:DISCA) last posted its quarterly earnings results on Sunday, February 21st. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.72 by $0.04. Discovery had a return on equity of 20.76% and a net margin of 13.36%. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. Research analysts expect that Discovery will post 3.17 EPS for the current year.

In other news, Director John C. Malone sold 550,000 shares of the business’s stock in a transaction dated Thursday, December 3rd. The stock was sold at an average price of $28.61, for a total transaction of $15,735,500.00. Following the completion of the transaction, the director now directly owns 787,359 shares of the company’s stock, valued at $22,526,340.99. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.88% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Carroll Financial Associates Inc. lifted its stake in Discovery by 232.9% in the fourth quarter. Carroll Financial Associates Inc. now owns 1,112 shares of the company’s stock valued at $33,000 after buying an additional 778 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Discovery by 30.9% in the fourth quarter. Meeder Asset Management Inc. now owns 1,110 shares of the company’s stock valued at $33,000 after buying an additional 262 shares during the last quarter. Fifth Third Bancorp lifted its stake in Discovery by 71.5% in the third quarter. Fifth Third Bancorp now owns 1,758 shares of the company’s stock valued at $38,000 after buying an additional 733 shares during the last quarter. Prospera Financial Services Inc purchased a new stake in Discovery in the third quarter valued at approximately $40,000. Finally, Huntington National Bank purchased a new stake in Discovery in the fourth quarter valued at approximately $40,000. 40.84% of the stock is owned by hedge funds and other institutional investors.

About Discovery

Discovery, Inc operates as a media company in the United States and internationally. The company operates in 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, ID, the Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.

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