Price Target Update on Discovery Communications (NASDAQ:DISCA)

Discovery Communications (NASDAQ:DISCA) : The most positive equity analysts on Discovery Communications (NASDAQ:DISCA) expects the shares to touch $35, whereas, the least positive believes that the stock will trade at $23 in the short term. The company is covered by 14 Wall Street Brokerage Firms. The average price target for shares are $29.79 with an expected fluctuation of $3.95 from the mean.

Other Equity analysts have also commented on the company shares. In the latest statement by the brokerage house, Bernstein downgrades its outlook on Discovery Communications (NASDAQ:DISCA). The current rating of the shares is Outperform, according to the research report released by the firm. Previously, the company had a rating of Market Perform. The brokerage firm lowers the price target from $29 per share to $23 per share. The rating by the firm was issued on June 6, 2016.

Discovery Communications (NASDAQ:DISCA): stock turned positive on Thursday. Though the stock opened at $26.21, the bulls momentum made the stock top out at $26.44 level for the day. The stock recorded a low of $26.1 and closed the trading day at $26.37, in the green by 1.46%. The total traded volume for the day was 2,989,773. The stock had closed at $25.99 in the previous days trading.

The company shares have dropped -22.65% from its 1 Year high price. On Jul 16, 2015, the shares registered one year high at $34.94 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $27.15 and the 200 Day Moving Average price is recorded at $27.19. On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director 10% owner of Discovery Communications, Inc., Malone John C had sold 183,637 shares worth of $5,149,181 in a transaction dated May 10, 2016. In this transaction, 183,637 shares were sold at $28.04 per share.

Discovery Communications, Inc. (Discovery) is a media company. The Company provides content across multiple distribution platforms, including pay-TV, free-to-air and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Discovery operates in three segments: U.S. Networks, consisting of domestic television networks and Websites; International Networks, consisting of international television networks and Websites, and Education and Other. The Companys U.S. Networks segment consists of national television networks. The U.S. Networks segment owns and operates 10 national television networks. The Companys International Networks segment consists of national and pan-regional television networks. The Companys Education and Other segment consists of curriculum-based product and service offerings, and production studios. The Companys subsidiaries include Discovery Holding Company (DHC) and Discovery Communications Holding, LLC (DCH).

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.