The shares opened for trading at $29.38 and hit $29.67 on the upside, eventually ending the session at $29.44, with a gain of 0.24% or 0.07 points.
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Key Stats to Note: Quarterly adjusted operating income before depreciation and amortization (OIBDA) decreased 9% year over year. Profitability is holding steady through the first three quarters of this year at a strong 58%.
In all, Discovery reported a profit of $279 million, down slightly from $280 million a year earlier. Discovery Communications, Inc. (DISCA) has a weekly performance of – 1.110% and EPS growth this year of 11.40%. The Clorox Company (CLX)’S monthly performance stands at 6.350% with an analyst rating of 3.1 and dividend yield of 2.53%.
Currently, Discovery has a Zacks Rank #3 (Hold), but that could definitely change following Discovery’s earnings report which was just released. Finally, Cowen and Company restated a “market perform” rating and set a $27.00 target price on shares of Discovery Communications in a research note on Friday, August 21st. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and three have issued a buy rating to the company’s stock. Discovery Communications presently has an average rating of “Hold” and an average price target of $31.75. The stock was sold at an average price of $28.00, for a total transaction of $714,000.00. Following the completion of the transaction, the director now owns 12,292,183 shares in the company, valued at $344,181,124. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The company has a 50-day moving average of $28.20 and a 200-day moving average of $30.70.
The company announced a new $2 billion stock buyback authorization that could send stock repurchases spiking higher.
“Discovery is like no other media company, propelled by our unmatched global infrastructure, local leadership, efficient global content model and sturdy position in the USA, and we are confident in our ability to drive near and long-term growth and shareholder value”.
Revenues by segment: U.S. Networks, $781M (up 8%); worldwide Networks, $740M (down 9%); Education and Other, $36M (up 3%). The Company’s U.S. Networks segment consists of national television networks.
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Building on its over-the top offerings in Europe, Discovery Communications CEO David Zaslav told analysts Tuesday that the offering could eventually make its way to the U.S.
