Walt Disney (NYSE:DIS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage presently has a $120.00 price objective on the entertainment giant’s stock. Zacks Investment Research‘s price target indicates a potential downside of 16.41% from the stock’s previous close.
According to Zacks, “Disney’s increasing investments in ESPN+ and Disney+ are expected to hurt margins. Higher programming costs at ESPN due to increase in contractual rate for a few sports programs are anticipated to keep profits under pressure. Further, due to the ongoing investments, Disney anticipates DTCI operating loss to be higher in third-quarter fiscal 2019. Notably, shares have underperformed the industry on a year-to-date basis. Nevertheless, Avengers: Endgame tasted phenomenal success, which is expected to reflect in the company’s near-term top line. Currently, the film holds the record for the fastest earning $1-billion film globally, beating Avengers: Infinity War.”
A number of other brokerages have also weighed in on DIS. JPMorgan Chase & Co. set a €78.00 ($90.70) target price on shares of Porsche Automobil and gave the company a “neutral” rating in a research report on Friday, April 12th. ValuEngine upgraded shares of Yandex from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. Imperial Capital raised their target price on shares of Walt Disney from $139.00 to $147.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Morgan Stanley restated an “overweight” rating and issued a GBX 4,000 ($52.27) target price on shares of in a research report on Thursday, June 13th. Finally, UBS Group cut their target price on shares of Cboe Global Markets from $105.00 to $103.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $144.89.
Shares of NYSE DIS traded up $0.02 during trading hours on Tuesday, hitting $143.56. 10,468,133 shares of the stock were exchanged, compared to its average volume of 11,121,813. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.36. The firm has a market cap of $256.50 billion, a P/E ratio of 20.28, a PEG ratio of 4.30 and a beta of 0.96. The firm has a fifty day moving average of $138.08. Walt Disney has a 1-year low of $100.35 and a 1-year high of $145.34.
Walt Disney (NYSE:DIS) last posted its quarterly earnings results on Wednesday, May 8th. The entertainment giant reported $1.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.02. The business had revenue of $14.92 billion for the quarter, compared to analyst estimates of $14.53 billion. Walt Disney had a net margin of 22.55% and a return on equity of 15.67%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $1.84 EPS. Equities analysts anticipate that Walt Disney will post 6.57 earnings per share for the current fiscal year.
In related news, EVP Brent Woodford sold 2,200 shares of Walt Disney stock in a transaction on Friday, June 7th. The shares were sold at an average price of $138.23, for a total transaction of $304,106.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Zenia B. Mucha sold 33,000 shares of Walt Disney stock in a transaction on Friday, April 12th. The stock was sold at an average price of $128.88, for a total transaction of $4,253,040.00. The disclosure for this sale can be found here. Insiders have sold 189,423 shares of company stock valued at $26,248,665 in the last three months. 0.36% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Litman Gregory Asset Management LLC bought a new position in Walt Disney during the fourth quarter worth $25,000. Crewe Advisors LLC raised its stake in Walt Disney by 55.6% during the fourth quarter. Crewe Advisors LLC now owns 280 shares of the entertainment giant’s stock worth $31,000 after buying an additional 100 shares during the last quarter. Portfolio Solutions LLC bought a new position in Walt Disney during the fourth quarter worth $43,000. Riverview Trust Co bought a new stake in Walt Disney in the fourth quarter valued at $48,000. Finally, Intercontinental Wealth Advisors LLC acquired a new position in shares of Walt Disney during the fourth quarter valued at about $52,000. 64.14% of the stock is owned by institutional investors and hedge funds.
About Walt Disney
The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company's Media Networks segment operates cable programming businesses under the ESPN, Disney, and Freeform brands; broadcast businesses, including ABC TV Network and eight owned television stations; and radio businesses.
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