Discovery (DISCA) Acquires Scripps Network (SNI) in $11.9 Billion Deal

01 August, 2017, 22:59 | Author: Gladys Mathis
  • The Food Network will get some new friends

More interesting news about Discovery Communications Inc. "While it could be argued that the move is somewhat defensive by Discovery, scale for programmers will be increasingly important", he said. The legal version of this report can be accessed at https://sportsperspectives.com/2017/07/31/discovery-communications-inc-nasdaqdisca-releases-earnings-results-misses-expectations-by-0-04-eps.html. (NASDAQ:DISCA) opened at 24.60 on Tuesday. Looking out over the past year, company shares have been recorded -19.31% off the 52 week high and 1.90% away from the low over the same period. SNI has recorded a 50-day average of $70.79 and a two hundred day average of $73.76. The firm has a market capitalization of $10.90 billion, a PE ratio of 12.87 and a beta of 1.60. TheStreet upgraded Discovery Communications from a "c+" rating to a "b-" rating in a report on Monday, April 10th. Adjusted EPS came in at 68 cents, below analyst estimates of 72 cents. Discovery Communications had a net margin of 17.50% and a return on equity of 23.67%. Discovery reported flat year-over-year ad sales revenue of $472 million and overall quarterly sales that were up 2 percent to $1.75 billion. Analysts expect that Scripps Networks Interactive, Inc. will post $5.49 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This news story was first published by Transcript Daily and is the property of of Transcript Daily. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of USA and global trademark and copyright law. Xact Kapitalforvaltning AB's holdings in Scripps Networks Interactive were worth $1,967,000 at the end of the most recent quarter. Pivotal Research reaffirmed a "hold" rating and issued a $28.00 price target (up previously from $27.00) on shares of Discovery Communications in a research note on Sunday, April 23rd. Discovery Communications now has a consensus rating of "Hold" and an average price target of $28.65.

In other news, insider Bruce Campbell sold 9,283 shares of Discovery Communications stock in a transaction on Thursday, June 15th.

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US stocks are mostly lower in midday trading as Facebook and other technology companies open the week with losses. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

As is often the case with deals, shares of the buyer, in this case Discovery, were trending about 1.7 percent lower, while the stock of the takeover target rose about 1 percent.

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