Discovery acquires Scripps Networks for £11.1bn

Discovery acquires Scripps Networks for £11.1bn

The stock's 50-day moving average is $26.21 and its 200-day moving average is $27.38. Scripps Networks Interactive, Inc. The stock has a market cap of $11.87 billion, a PE ratio of 14.02 and a beta of 1.60.

Discovery Communications (NASDAQ:DISCK) last issued its quarterly earnings results on Tuesday, May 9th.

The company reported $0.68 EPS for the quarter, missing the Zacks' consensus estimate of $0.72 by $0.04. Each produces net profit margins in the high teens, with Discovery earning a net profit of $1.2 billion a year ago. The firm's quarterly revenue was up 2.2% compared to the same quarter previous year. Over the past five trading sessions it is 0.94%; 2.52% for the month; -6.88% for the last quarter; -4.49% for the past six-months; and 6.1% for the last 12 months. The business's revenue was up 4.7% compared to the same quarter a year ago. On average, analysts forecast that Discovery Communications, Inc. will post $2.24 earnings per share for the current fiscal year.

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Wall Street await Discovery Communications Inc.

More news: Russia Retaliates For Sanctions Approval, Hitting At US Diplomatic Corps

A number of research analysts recently commented on DISCA shares. Analysts giving the company a rating of 3 would be indicating a Hold recommendation. Bank of Montreal Can increased its stake in shares of Discovery Communications by 1.7% in the first quarter. Finally, ValuEngine downgraded Discovery Communications from a "buy" rating to a "hold" rating in a research report on Friday, June 2nd. Discovery Communications now has an average rating of "Hold" and an average target price of $28.65.

Discovery and Scripps are also grappling with changing models of distribution, as cable companies respond to falling subscriber numbers with their own online platforms and less expensive packages with fewer channels. The stock was sold at an average price of $69.65, for a total value of $2,089,500.00. Hedge funds and other institutional investors own 46.96% of the company's stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Caveat: Discovery's offer includes both cash and stock, and as Discovery's shares have dropped on the announcement, the overall value is now slightly lower. (NASDAQ:WFM) ended its day at $41.82 with the rising stream of 0.10% and its total traded volume was 3.87 million shares less than the average volume.

USA stocks are mostly lower in midday trading as Facebook and other technology companies open the week with losses. The disclosure for this sale can be found here.

The stock is now showing YTD performance of -2.23 Percent.

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