Discovery Posts Mixed 2Q; Subs Continue Slide at the Noncore Networks
Discovery reported a mixed second quarter as revenue and EBITDA came in line with consensus expectations, but adjusted EPS fell below Street projections due to higher-than-expected D&A and net interest expense. Management remains focused on integrating the Scripps acquisition which closed in the first quarter. We are maintaining our narrow economic moat rating and our fair value estimate of $31. Currently trading in 4-star territory, the stock may offer an attractive entry point to those wit...
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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