Needham & Company Maintains a 'Hold' on Discovery (DISCA); 4Q11 Preview

Needham & Company maintains a 'Hold' on Discovery Communications (NASDAQ: DISCA).

Analyst, Laura Martin, said, "We maintain our FY11 revenue and EPS estimates, but within the US and International Networks, we are rebalancing our revenue estimates to reflect higher expectations in Distribution (up 5% in US Nets and up 4% in International Nets, from previous estimates), offset by more moderate expectations in Advertising (down 4% in US Nets and down 5% in International Nets, from previous estimates). Specifically, we maintain our 4Q11 revenue estimate of $1,096mm (up 8% y/y), OIBDA of $510mm, up 11% y/y, and Operating EPS estimate of $0.68 (up 43% y/y)."

"We are maintaining our FY12 estimates of revenue of $4.429B (up 8% y/y), and Operating EPS of $2.79 (up 19% y/y)."

For an analyst ratings summary and ratings history on Discovery Communications click here. For more ratings news on Discovery Communications click here.

Shares of Discovery Communications closed at $43.46 yesterday.

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