Zacks Investment Research lowered shares of Walt Disney (NYSE:DIS) from a buy rating to a hold rating in a research report released on Tuesday.
According to Zacks, “Parks & Resorts division once again turned out to be the savior for Disney in first-quarter fiscal 2018. The company, whose shares have outperformed the industry in the past six months, delivered positive earnings surprise after missing the Zacks Consensus Estimate in the preceding quarter. However, the big take away from the quarter was top-line performance, which surpassed the consensus mark for the first time in six quarters. Further, Disney 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. The addition of Fox's rich library of movies and TV series would greatly enhance Disney’s prospects in the streaming service. However, falling subscribers at ESPN remain a concern.”
DIS has been the subject of a number of other research reports. Barclays set a $105.00 target price on shares of Walt Disney and gave the stock a hold rating in a research report on Tuesday, January 23rd. Edward Jones downgraded shares of Walt Disney from a buy rating to a hold rating in a research report on Friday, December 15th. Wells Fargo & Co reaffirmed a buy rating and issued a $135.00 target price on shares of Walt Disney in a research report on Friday, December 15th. Credit Suisse Group reaffirmed a buy rating on shares of Walt Disney in a research report on Friday, December 22nd. Finally, Vetr raised shares of Walt Disney from a hold rating to a buy rating and set a $107.20 target price for the company in a research report on Tuesday, November 21st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $118.59.
Walt Disney (NYSE:DIS) last announced its quarterly earnings data on Tuesday, February 6th. The entertainment giant reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.28. Walt Disney had a net margin of 19.61% and a return on equity of 20.44%. The company had revenue of $15.35 billion during the quarter, compared to analyst estimates of $15.47 billion. During the same period in the previous year, the business earned $1.55 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. analysts anticipate that Walt Disney will post 6.95 earnings per share for the current year.
In other news, Director Aylwin B. Lewis sold 1,797 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $108.39, for a total transaction of $194,776.83. Following the completion of the sale, the director now owns 85,636 shares of the company’s stock, valued at approximately $9,282,086.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.
Several hedge funds have recently modified their holdings of DIS. Certified Advisory Corp bought a new position in Walt Disney in the 4th quarter worth $547,000. Ackerman Capital Advisors LLC bought a new position in Walt Disney in the 4th quarter worth $608,000. Fairfield Bush & CO. boosted its holdings in Walt Disney by 14.7% in the 4th quarter. Fairfield Bush & CO. now owns 19,490 shares of the entertainment giant’s stock worth $2,095,000 after buying an additional 2,500 shares during the period. Wagner Wealth Management LLC bought a new position in Walt Disney in the 4th quarter worth $533,000. Finally, Colonial Trust Advisors boosted its holdings in Walt Disney by 23.9% in the 4th quarter. Colonial Trust Advisors now owns 132,732 shares of the entertainment giant’s stock worth $14,270,000 after buying an additional 25,596 shares during the period. 62.63% of the stock is owned by hedge funds and other institutional investors.
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Walt Disney Company Profile
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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