Walt Disney (NYSE:DIS) Updates FY24 Earnings Guidance

Walt Disney (NYSE:DIS) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of ~$4.70 for the period, compared to the consensus earnings per share estimate of $4.71.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DIS. Macquarie increased their price objective on shares of Walt Disney from $94.00 to $104.00 and gave the company a neutral rating in a report on Thursday, February 8th. JPMorgan Chase & Co. started coverage on shares of Walt Disney in a research report on Thursday, April 11th. They issued an overweight rating and a $140.00 target price for the company. Raymond James increased their target price on shares of Walt Disney from $112.00 to $128.00 and gave the company an outperform rating in a research report on Tuesday, March 26th. Morgan Stanley increased their target price on shares of Walt Disney from $110.00 to $135.00 and gave the company an overweight rating in a research report on Monday, March 4th. Finally, UBS Group reduced their target price on shares of Walt Disney from $140.00 to $130.00 and set a buy rating for the company in a research report on Wednesday. One 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 stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $126.46.

Walt Disney Stock Up 0.3 %

DIS stock traded up $0.31 during midday trading on Thursday, reaching $105.75. 10,788,089 shares of the company were exchanged, compared to its average volume of 12,082,081. The stock’s 50-day simple moving average is $114.59 and its 200 day simple moving average is $101.21. The company has a market cap of $193.98 billion, a price-to-earnings ratio of 114.74, a price-to-earnings-growth ratio of 1.39 and a beta of 1.40. Walt Disney has a 1-year low of $78.73 and a 1-year high of $123.74. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.84.

Walt Disney (NYSE:DIS) last announced its earnings results on Tuesday, May 7th. The entertainment giant reported $1.21 EPS 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 analysts’ expectations of $22.12 billion. Walt Disney had a net margin of 3.36% and a return on equity of 7.88%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 EPS. On average, equities analysts forecast that Walt Disney will post 4.7 earnings per share for the current year.

Insider Buying and Selling at Walt Disney

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

About Walt Disney

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.