Walt Disney (NYSE:DIS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, January 2nd.
According to Zacks, “Shares of Disney have outperformed the industry in the past three months. The company is acquiring majority of Twenty-First Century Fox’s assets, which includes its Film and Television studios accompanied by cable and international TV businesses. The deal provides a bout of fresh air to Disney, which for quite some time now has been jostling in the fast changing media landscape, where rise in streaming and cord cutting have become two faces of the coin. No wonder, the buyout of these assets would considerably enhance the media mogul’s bargaining power with Cable TV providers, increase affiliate fees, provide a fresh lease of life to ESPN and create cost synergies. Further, the addition of Fox's rich library of movies and TV series would greatly enhance Disney’s prospects in the streaming service. Bob Iger will continue to spearhead the company through 2021 for a smooth integration of Fox’s assets into Disney.”
Other equities research analysts have also issued research reports about the stock. FBR & Co restated a “hold” rating and issued a $97.00 target price on shares of Walt Disney in a research note on Friday, September 8th. B. Riley reaffirmed a “neutral” rating on shares of Walt Disney in a research report on Wednesday, November 1st. Jefferies Group reaffirmed a “hold” rating and set a $103.77 price objective (up previously from $102.68) on shares of Walt Disney in a research report on Friday, November 10th. Guggenheim reaffirmed a “buy” rating and set a $122.00 price objective on shares of Walt Disney in a research report on Tuesday, September 5th. Finally, Vetr raised shares of Walt Disney from a “hold” rating to a “buy” rating and set a $103.55 price objective for the company in a research report on Thursday, September 7th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $116.53.
Shares of Walt Disney (DIS) traded up $1.64 during trading on Tuesday, hitting $112.19. 7,589,509 shares of the stock were exchanged, compared to its average volume of 8,670,000. The firm has a market cap of $169,440.00, a price-to-earnings ratio of 19.75, a PEG ratio of 1.94 and a beta of 1.38. 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 has a 1-year low of $96.20 and a 1-year high of $116.10.
Walt Disney (NYSE:DIS) last issued its earnings results 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 company had revenue of $12.78 billion during the quarter, compared to analyst estimates of $13.30 billion. Walt Disney 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% compared to the same quarter last year. During the same quarter last year, the company posted $1.10 EPS. equities analysts expect that Walt Disney will post 6.42 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lee Financial Co lifted its stake in shares of Walt Disney by 7.6% in the 2nd quarter. Lee Financial Co now owns 1,052 shares of the entertainment giant’s stock worth $112,000 after acquiring an additional 74 shares during the period. Legacy Advisors LLC acquired a new stake in shares of Walt Disney in the 3rd quarter worth approximately $137,000. Malaga Cove Capital LLC acquired a new stake in shares of Walt Disney in the 3rd quarter worth approximately $140,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of Walt Disney in the 3rd quarter worth approximately $142,000. Finally, Cerebellum GP LLC acquired a new stake in shares of Walt Disney in the 4th quarter worth approximately $142,000. Hedge funds and other institutional investors own 61.63% of the company’s stock.
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About Walt Disney
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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