Brokers Offer Predictions for The Walt Disney Company’s Q1 2024 Earnings (NYSE:DIS)

The Walt Disney Company (NYSE:DIS) – Seaport Res Ptn boosted their Q1 2024 earnings estimates for shares of Walt Disney in a report issued on Tuesday, November 14th. Seaport Res Ptn analyst D. Joyce now expects that the entertainment giant will post earnings per share of $1.39 for the quarter, up from their previous estimate of $1.07. Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for Walt Disney’s current full-year earnings is $4.53 per share. Seaport Res Ptn also issued estimates for Walt Disney’s Q2 2024 earnings at $1.43 EPS, Q3 2024 earnings at $1.74 EPS, Q4 2024 earnings at $1.97 EPS, FY2024 earnings at $6.53 EPS and FY2025 earnings at $8.13 EPS.

Walt Disney (NYSE:DIS) last released its earnings results on Wednesday, November 8th. The entertainment giant reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.15. Walt Disney had a return on equity of 7.31% and a net margin of 2.65%. The firm had revenue of $21.24 billion during the quarter, compared to the consensus estimate of $21.37 billion. During the same period in the prior year, the firm posted $0.30 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year.

A number of other brokerages also recently weighed in on DIS. Citigroup cut their price target on shares of Walt Disney from $125.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, August 16th. Rosenblatt Securities decreased their price target on shares of Walt Disney from $104.00 to $103.00 and set a “buy” rating on the stock in a research report on Wednesday, September 20th. Truist Financial reiterated a “buy” rating and set a $105.00 price objective on shares of Walt Disney in a research report on Tuesday, September 19th. Atlantic Securities cut Walt Disney from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $113.00 to $76.00 in a report on Tuesday, July 25th. Finally, JPMorgan Chase & Co. reduced their target price on Walt Disney from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $113.30.

Walt Disney Trading Up 0.6 %

Shares of DIS stock opened at $94.51 on Friday. The stock has a 50-day simple moving average of $83.69 and a 200 day simple moving average of $87.36. The stock has a market capitalization of $172.93 billion, a P/E ratio of 73.84, a P/E/G ratio of 1.65 and a beta of 1.30. Walt Disney has a fifty-two week low of $78.73 and a fifty-two week high of $118.18. The company has a quick ratio of 0.99, a current ratio of 1.05 and a debt-to-equity ratio of 0.40.

Institutional Investors Weigh In On Walt Disney

Institutional investors have recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich grew its position in Walt Disney by 102,919.5% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 458,556,073 shares of the entertainment giant’s stock worth $40,939,886,000 after acquiring an additional 458,110,957 shares in the last quarter. Trian Fund Management L.P. increased its position in Walt Disney by 411.6% during the third quarter. Trian Fund Management L.P. now owns 32,868,307 shares of the entertainment giant’s stock worth $2,663,976,000 after buying an additional 26,443,257 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in Walt Disney by 109,924.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 23,666,275 shares of the entertainment giant’s stock valued at $2,056,126,000 after buying an additional 23,644,765 shares in the last quarter. Norges Bank bought a new position in Walt Disney during the fourth quarter valued at about $1,433,075,000. Finally, Providence Capital Advisors LLC lifted its position in shares of Walt Disney by 11,064.4% in the first quarter. Providence Capital Advisors LLC now owns 10,982,227 shares of the entertainment giant’s stock worth $109,679,000 after buying an additional 10,883,859 shares during the last quarter. 61.17% of the stock is currently owned by institutional investors and hedge funds.

About Walt Disney

The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. It operates through two segments, Disney Media and Entertainment Distribution; and Disney Parks, Experiences and Products. The company engages in the film and episodic television content production and distribution activities, as well as operates television networks under the ABC, Disney, ESPN, Freeform, FX, Fox, National Geographic, and Star brands; and studios that produces films under the Walt Disney Pictures, Twentieth Century Studios, Marvel, Lucasfilm, Pixar, and Searchlight Pictures banners.