Walt Disney (NYSE:DIS) Trading Up 0.7% After Earnings Beat

The Walt Disney Company (NYSE:DIS) shares were up 0.7% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $106.48 and last traded at $106.11. Approximately 5,215,782 shares changed hands during trading, a decline of 56% from the average daily volume of 11,981,943 shares. The stock had previously closed at $105.39.

The entertainment giant reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. The business had revenue of $22.08 billion for the quarter, compared to the consensus estimate of $22.12 billion. Walt Disney had a net margin of 3.36% and a return on equity of 7.88%. Walt Disney’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $0.93 earnings per share.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DIS. Barclays upgraded Walt Disney from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $95.00 to $135.00 in a research report on Monday, March 25th. Deutsche Bank Aktiengesellschaft boosted their target price on Walt Disney from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday. UBS Group reduced their price target on shares of Walt Disney from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday. Rosenblatt Securities upped their price objective on shares of Walt Disney from $129.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $145.00 price target on shares of Walt Disney in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.75.

Insider Buying and Selling

In other Walt Disney news, EVP Sonia L. Coleman sold 1,857 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $121.92, for a total transaction of $226,405.44. Following the completion of the transaction, the executive vice president now owns 4,400 shares of the company’s stock, valued at approximately $536,448. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Walt Disney

A number of hedge funds have recently bought and sold shares of the business. Mcdonald Partners LLC lifted its holdings in Walt Disney by 0.5% in the 1st quarter. Mcdonald Partners LLC now owns 17,975 shares of the entertainment giant’s stock valued at $2,199,000 after acquiring an additional 88 shares during the last quarter. Sendero Wealth Management LLC lifted its stake in Walt Disney by 2.0% during the first quarter. Sendero Wealth Management LLC now owns 4,649 shares of the entertainment giant’s stock valued at $569,000 after purchasing an additional 89 shares during the last quarter. McKinley Carter Wealth Services Inc. boosted its holdings in Walt Disney by 1.5% during the first quarter. McKinley Carter Wealth Services Inc. now owns 5,894 shares of the entertainment giant’s stock worth $721,000 after buying an additional 89 shares in the last quarter. Pflug Koory LLC increased its holdings in shares of Walt Disney by 1.0% in the first quarter. Pflug Koory LLC now owns 8,993 shares of the entertainment giant’s stock valued at $1,100,000 after buying an additional 91 shares in the last quarter. Finally, Regent Peak Wealth Advisors LLC boosted its stake in shares of Walt Disney by 3.5% during the 1st quarter. Regent Peak Wealth Advisors LLC now owns 2,801 shares of the entertainment giant’s stock worth $343,000 after acquiring an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Walt Disney Stock Up 0.8 %

The firm has a market capitalization of $194.84 billion, a price-to-earnings ratio of 65.50, a PEG ratio of 1.39 and a beta of 1.40. The company has a current ratio of 0.84, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The stock has a fifty day moving average of $114.59 and a 200-day moving average of $101.21.

Walt Disney Company Profile

The Walt Disney Company operates as an entertainment company worldwide. It operates through three segments: Entertainment, Sports, and Experiences. The company produces and distributes film and television video streaming content under the ABC Television Network, Disney, Freeform, FX, Fox, National Geographic, and Star brand television channels, as well as ABC television stations and A+E television networks; and produces original content under the ABC Signature, Disney Branded Television, FX Productions, Lucasfilm, Marvel, National Geographic Studios, Pixar, Searchlight Pictures, Twentieth Century Studios, 20th Television, and Walt Disney Pictures banners.