Discovery's merger with Scripps makes them worth more than Viacom

Discovery's merger with Scripps makes them worth more than Viacom

Discovery Communications, Inc. has a 12-month low of $23.96 and a 12-month high of $30.25. It opened the session with a $26.34 price tag, later ranging from $26.12 to $26.87, the range at which the stock has traded at throughout the day. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.50 by $0.09. The firm had revenue of $1.61 billion during the quarter. Scripps Networks Interactive had a return on equity of 39.52% and a net margin of 29.21%. The firm's revenue for the quarter was up 2.2% compared to the same quarter a year ago. During the same period in the previous year, the firm earned $0.71 earnings per share. Analysts forecast EPS of $0.69, down exactly $0.02 or 2.82 % from 2014's $0.71 EPS. (NASDAQ:DISCK) news were published by: Nasdaq.com which released: "Discovery Communications, Inc. (NASDAQ:DISCA)" was first posted by BBNS and is the property of of BBNS. The original version of this report can be read at https://baseballnewssource.com/markets/xact-kapitalforvaltning-ab-has-1-88-million-stake-in-discovery-communications-inc-nasdaqdisca-updated-updated/1194865.html. Finally, MKM Partners reaffirmed a "neutral" rating and issued a $73.00 price target (down from $84.00) on shares of Scripps Networks Interactive in a research note on Friday, July 21st. Finally, Zacks Investment Research lowered Discovery Communications from a "hold" rating to a "sell" rating in a research report on Tuesday, April 18th. Contravisory Investment Management Inc. now owns 1,586 shares of the company's stock worth $124,000 after buying an additional 645 shares in the last quarter. Discovery Communications now has a consensus rating of "Hold" and an average price target of $28.65. The company has market cap of $9.03 billion. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Investors seem to have mixed feelings as shares of Discovery have fallen 7% in early morning trading while Scripps stock has risen about 0.65% in reaction to the news. The disclosure for this sale can be found here.

Both companies' CEOs on a call with Wall Street also focused most of their time on the opportunities and benefits of the deal in various areas, such as scale, reach, digital, direct-to-consumer and global upside.




Neither company has links to a USA broadcaster or major domestic sports rights, so it will remain to be seen how much leverage the combined company will have with distributors.

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