Walt Disney (NYSE:DIS)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Friday, Stock Ratings Network.com reports. They currently have a $65.00 price objective on the stock. Zacks‘ target price indicates a potential upside of 4.18% from the company’s current price.
Zacks‘ analyst wrote, “Disney’s third-quarter fiscal 2013 results were soft. Earnings did rise 2% but came in line with the Zacks Consensus Estimate. Revenue increased 4% but fell short of the Zacks Consensus Estimate. We believe strong performance of the Media Networks and Parks and Resorts division will continue to boost the top and bottom-line results in the coming quarters. However, the company’s Studio division remains a drag as Disney expects the segment to report loss between $160 million and $190 million in Q4. Moreover, higher sports rights and increased programming and production costs are near-term headwinds. Although, we remain optimistic about the company’s long-term prospects the near-term challenges, compel us to remain on the sidelines at this juncture. Consequently, our Neutral recommendation prevails. “
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Walt Disney in a research note to investors on Thursday, August 8th. Separately, analysts at RBC Capital cut their price target on shares of Walt Disney from $72.00 to $71.00 in a research note to investors on Wednesday, August 7th. They now have an “outperform” rating on the stock. Finally, analysts at Janney Montgomery Scott raised their price target on shares of Walt Disney to $71.00 in a research note to investors on Wednesday, August 7th. They now have a “neutral” rating on the stock.
Ten research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $69.92.
Walt Disney (NYSE:DIS) traded down 0.29% on Friday, hitting $62.20. The stock had a trading volume of 4,338,383 shares. Walt Disney has a 52 week low of $46.53 and a 52 week high of $67.89. The stock’s 50-day moving average is $64.78 and its 200-day moving average is $61.23. The company has a market cap of $111.1 billion and a P/E ratio of 18.90.
Walt Disney (NYSE:DIS) last released its earnings data on Tuesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by $0.01. The company had revenue of $11.58 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Analysts expect that Walt Disney will post $3.38 EPS for the current fiscal year.
The Walt Disney Company, together with its subsidiaries, is a diversified worldwide entertainment company.
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