Zacks Investment Research upgraded shares of Walt Disney Company (The) (NYSE:DIS) from a sell rating to a hold rating in a research note published on Wednesday morning.
According to Zacks, “Despite reporting lower-than-expected results in fourth-quarter fiscal 2017, Disney’s shares have outpaced the industry in a month. Analysts believe that the deal with Rian Johnson, director of The Last Jedi, to produce a new Star Wars trilogy may have raised hopes of investors. Further, a strong performance by the Parks & Resorts unit continues to impress investors. It’s decision to terminate the distribution agreement with Netflix for subscription streaming and having its own streaming services —one for Disney and Pixar brands and another for ESPN followers — is likely to be a driving factor in the long run. Also, in an effort to attract online viewers, Disney has completed the acquisition of BAMTech. However, falling subscriber and higher programming costs at ESPN were the major concerns this quarter too. The fresh NBA agreement and rise in contractual rate are driving the programming cost.”
A number of other brokerages also recently weighed in on DIS. Bank of America Corporation reaffirmed a buy rating and set a $120.00 price target (down previously from $125.00) on shares of Walt Disney Company (The) in a report on Friday, September 8th. FBR & Co reaffirmed a hold rating and set a $97.00 price target on shares of Walt Disney Company (The) in a report on Friday, September 8th. Guggenheim reaffirmed a buy rating and set a $122.00 price target on shares of Walt Disney Company (The) in a report on Tuesday, September 5th. UBS AG reaffirmed a buy rating and set a $126.00 price target on shares of Walt Disney Company (The) in a report on Tuesday, September 5th. Finally, Wells Fargo & Company raised shares of Walt Disney Company (The) from a market perform rating to an outperform rating and upped their price target for the stock from $109.00 to $116.00 in a report on Tuesday, September 5th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seventeen have given a buy rating to the company. Walt Disney Company (The) currently has a consensus rating of Hold and an average price target of $112.55.
Shares of Walt Disney Company (DIS) opened at $103.44 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 0.42. The stock has a market cap of $159,900.00, a PE ratio of 18.10, a price-to-earnings-growth ratio of 2.19 and a beta of 1.37. Walt Disney Company has a twelve month low of $96.20 and a twelve month high of $116.10.
Walt Disney Company (The) (NYSE:DIS) last posted its quarterly earnings data on Thursday, November 9th. The entertainment giant reported $1.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.05). The business had revenue of $12.78 billion during the quarter, compared to the consensus estimate of $13.30 billion. Walt Disney Company (The) had a net margin of 16.29% and a return on equity of 19.66%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.10 EPS. equities research analysts expect that Walt Disney Company will post 6.24 earnings per share for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the business. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Walt Disney Company (The) in the second quarter valued at $925,000. Lee Financial Co raised its holdings in shares of Walt Disney Company (The) by 7.6% in the second quarter. Lee Financial Co now owns 1,052 shares of the entertainment giant’s stock valued at $112,000 after purchasing an additional 74 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Walt Disney Company (The) in the first quarter valued at about $144,000. Legacy Advisors LLC purchased a new stake in shares of Walt Disney Company (The) in the third quarter valued at about $137,000. Finally, Malaga Cove Capital LLC purchased a new stake in shares of Walt Disney Company (The) in the third quarter valued at about $140,000. 61.06% of the stock is currently owned by hedge funds and other institutional investors.
Walt Disney Company (The) Company Profile
The Walt Disney Company is an entertainment company. The Company operates in four business segments: Media Networks, Parks and Resorts, Studio Entertainment, and Consumer Products & Interactive Media. The media networks segment includes cable and broadcast television networks, television production and distribution operations, domestic television stations, and radio networks and stations.
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