Analysts Anticipate Discovery, Inc. (NASDAQ:DISCA) Will Announce Quarterly Sales of $2.95 Billion

Brokerages expect that Discovery, Inc. (NASDAQ:DISCA) will report sales of $2.95 billion for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Discovery’s earnings, with the lowest sales estimate coming in at $2.90 billion and the highest estimate coming in at $2.97 billion. Discovery posted sales of $2.54 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 16.1%. The company is scheduled to announce its next quarterly earnings results on Wednesday, August 4th.

According to Zacks, analysts expect that Discovery will report full year sales of $12.05 billion for the current year, with estimates ranging from $11.71 billion to $12.58 billion. For the next year, analysts anticipate that the firm will post sales of $12.72 billion, with estimates ranging from $12.03 billion to $13.52 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Discovery.

Discovery (NASDAQ:DISCA) last issued its quarterly earnings results on Wednesday, April 28th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.40). Discovery had a net margin of 13.36% and a return on equity of 20.76%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the prior year, the company earned $0.87 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis.

DISCA has been the topic of a number of analyst reports. Smith Barney Citigroup boosted their price objective on Discovery from $28.00 to $36.00 in a research note on Wednesday, January 6th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on Discovery from $28.00 to $36.00 in a research note on Wednesday, January 6th. Macquarie upgraded Discovery from an “underperform” rating to a “neutral” rating and decreased their price objective for the company from $52.00 to $40.00 in a research note on Friday. UBS Group upgraded Discovery from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $46.00 to $38.00 in a research note on Thursday, April 29th. Finally, TheStreet lowered Discovery from a “b” rating to a “c+” rating in a research note on Wednesday, April 28th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $39.48.

Shares of NASDAQ:DISCA traded up $0.40 during midday trading on Tuesday, reaching $36.52. 7,007,580 shares of the company traded hands, compared to its average volume of 14,270,322. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.29. Discovery has a 12 month low of $18.56 and a 12 month high of $78.14. The firm has a market capitalization of $17.80 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 0.88 and a beta of 1.53. The firm’s fifty day moving average price is $47.12 and its two-hundred day moving average price is $38.35.

In other Discovery news, CAO Lori C. Locke sold 1,301 shares of the stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $73.10, for a total value of $95,103.10. Following the completion of the sale, the chief accounting officer now owns 21,514 shares in the company, valued at approximately $1,572,673.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Adria Alpert-Romm sold 15,962 shares of the stock in a transaction that occurred on Tuesday, February 23rd. The stock was sold at an average price of $44.93, for a total value of $717,172.66. Following the completion of the sale, the insider now owns 10,989 shares of the company’s stock, valued at approximately $493,735.77. The disclosure for this sale can be found here. Insiders have sold a total of 1,367,598 shares of company stock valued at $73,889,344 over the last 90 days. 5.88% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DISCA. Meeder Asset Management Inc. lifted its stake in shares of Discovery by 30.9% in the 4th quarter. Meeder Asset Management Inc. now owns 1,110 shares of the company’s stock valued at $33,000 after purchasing an additional 262 shares during the period. Eaton Vance Management lifted its stake in shares of Discovery by 0.4% in the 4th quarter. Eaton Vance Management now owns 72,718 shares of the company’s stock valued at $2,188,000 after purchasing an additional 280 shares during the period. RBA Wealth Management LLC lifted its stake in shares of Discovery by 0.3% in the 4th quarter. RBA Wealth Management LLC now owns 101,848 shares of the company’s stock valued at $3,065,000 after purchasing an additional 289 shares during the period. Wealth Advisors of Tampa Bay LLC lifted its stake in shares of Discovery by 0.8% in the 1st quarter. Wealth Advisors of Tampa Bay LLC now owns 38,380 shares of the company’s stock valued at $1,668,000 after purchasing an additional 300 shares during the period. Finally, FDx Advisors Inc. lifted its stake in shares of Discovery by 2.8% in the 4th quarter. FDx Advisors Inc. now owns 11,920 shares of the company’s stock valued at $359,000 after purchasing an additional 329 shares during the period. Institutional investors and hedge funds own 40.84% of the company’s stock.

Discovery Company Profile

Discovery, Inc, a media company, provides content across various distribution platforms in approximately 50 languages worldwide. It operates in two segments, U.S. Networks and International Networks. The company owns and operates various television networks under the Discovery Channel, HGTV, Food Network, TLC, Animal Planet, Investigation Discovery, Travel Channel, Science, MotorTrend, Discovery en Español, Discovery Familia, Eurosport, TVN, Discovery Kids, Discovery Family, American Heroes Channel, Destination America, Discovery Life, DIY Network, Cooking Channel, Great American Country, ID, the Oprah Winfrey Network, Eurosport, DMAX, and Discovery Home & Health brands, as well as other regional television networks.

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Earnings History and Estimates for Discovery (NASDAQ:DISCA)

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