Bernstein Downgrades Discovery Communications to Outperform with Price Target $23.00

Brokerage firm Bernstein Downgrades its rating on Discovery Communications(NASDAQ:DISCA). In a research note issued to the investors, the brokerage major Lowers the price-target to $23.00 per share. The shares have been rated Outperform. Previously, the analysts had a Market Perform rating on the shares. The rating by Bernstein was issued on Jun 6, 2016.

In a different note, On May 18, 2016, Citigroup said it Downgrades its rating on Discovery Communications. In the research note, the firm Lowers the price-target to $30.00 per share. The shares have been rated ‘Sell’ by the firm. On May 6, 2016, Barrington Research said it Upgrades its rating on Discovery Communications. The shares have been rated ‘Outperform’ by the firm. On Apr 26, 2016, Macquarie said it Downgrades its rating on Discovery Communications. In the research note, the firm Lowers the price-target to $29.00 per share. The shares have been rated ‘Underperform’ by the firm. On Apr 25, 2016, Topeka Capital said it Downgrades its rating on Discovery Communications. In the research note, the firm Lowers the price-target to $37.00 per share. The shares have been rated ‘Hold’ by the firm. RBC Capital said it Initiates Coverage on Discovery Communications, according to a research note issued on Apr 7, 2016. The shares have been rated ‘Outperform’ by the firm.

Discovery Communications (DISCA) shares turned negative on Fridays trading session with the shares closing down -1.18 points or -4.32% at a volume of 41,61,062. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $27.51. The peak price level was also seen at $27.51 while the days lowest was $25.99. Finally the shares closed at $26.15. The 52-week high of the shares is $34.94 while the 52-week low is $23.74. According to the latest information available, the market cap of the company is $10,610 M.

Discovery Communications(DISCA) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $1.56B. Analysts had an estimated revenue of $1.56B. Earnings per share were $0.46. Analysts had estimated an EPS of $0.41.

Several Insider Transactions has been reported to the SEC. On May 12, 2016, John C Malone (director 10% owner) sold 183,637 shares at $28.04 per share price.Also, On Dec 18, 2015, Robert Miron (director) sold 820 shares at $26.31 per share price.On Nov 9, 2015, Paul J Guagliardo (Chief Commercial Officer) sold 851 shares at $30.14 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s U.S. Networks segment consists of national television networks. The U.S. Networks segment owns and operates 10 national television networks. The Company’s International Networks segment consists of national and pan-regional television networks. The Company’s Education and Other segment consists of curriculum-based product and service offerings and production studios. The Company’s subsidiaries include Discovery Holding Company (DHC) and Discovery Communications Holding LLC (DCH).

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