Walt Disney Company (The) (DIS) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Walt Disney Company (The) (NYSE:DIS) from a sell rating to a hold rating in a report released 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 equities analysts have also recently weighed in on DIS. B. Riley reissued a neutral rating on shares of Walt Disney Company (The) in a research report on Wednesday, November 1st. BMO Capital Markets reissued an underperform rating and set a $90.00 price target (down from $95.00) on shares of Walt Disney Company (The) in a research report on Thursday, August 10th. Loop Capital reissued a hold rating and set a $108.00 price target on shares of Walt Disney Company (The) in a research report on Thursday, August 10th. Wells Fargo & Company reissued a market perform rating and set a $109.00 price target on shares of Walt Disney Company (The) in a research report on Thursday, August 10th. Finally, The Goldman Sachs Group, Inc. set a $133.00 price target on shares of Walt Disney Company (The) and gave the stock a buy rating in a research report on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seventeen have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $112.55.

Shares of Walt Disney Company (NYSE DIS) traded down $0.16 during mid-day trading on Wednesday, reaching $103.44. 7,435,925 shares of the company’s stock were exchanged, compared to its average volume of 7,191,291. Walt Disney Company has a 1 year low of $96.20 and a 1 year high of $116.10. The company has a market capitalization of $159,900.00, a PE ratio of 18.10, a PEG ratio of 2.19 and a beta of 1.37. The company has a current ratio of 0.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.42.

Walt Disney Company (The) (NYSE:DIS) last announced its quarterly earnings data on Thursday, November 9th. The entertainment giant reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Walt Disney Company (The)’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.10 earnings per share. analysts forecast that Walt Disney Company will post 6.24 EPS for the current year.

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Several hedge funds have recently made changes to their positions in DIS. Janus Henderson Group PLC boosted its holdings in shares of Walt Disney Company (The) by 929.6% during the 2nd quarter. Janus Henderson Group PLC now owns 5,410,942 shares of the entertainment giant’s stock worth $574,907,000 after buying an additional 4,885,398 shares during the period. AJO LP boosted its holdings in Walt Disney Company (The) by 12,331.6% in the 2nd quarter. AJO LP now owns 3,300,335 shares of the entertainment giant’s stock valued at $350,661,000 after purchasing an additional 3,273,787 shares during the period. Vanguard Group Inc. boosted its holdings in Walt Disney Company (The) by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 98,803,049 shares of the entertainment giant’s stock valued at $10,497,824,000 after purchasing an additional 2,131,932 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Walt Disney Company (The) by 247.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,644,700 shares of the entertainment giant’s stock valued at $280,999,000 after purchasing an additional 1,884,600 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in Walt Disney Company (The) by 48.7% in the 2nd quarter. Nordea Investment Management AB now owns 5,313,513 shares of the entertainment giant’s stock valued at $564,561,000 after purchasing an additional 1,740,128 shares during the period. 61.06% of the stock is owned by institutional investors and hedge funds.

About Walt Disney Company (The)

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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