Walt Disney (NYSE:DIS) Trading 2.4% Higher After Earnings Beat

The Walt Disney Company (NYSE:DIS)’s share price rose 2.4% on Thursday following a stronger than expected earnings report. The company traded as high as $105.80 and last traded at $104.57. Approximately 6,003,279 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 10,017,898 shares. The stock had previously closed at $102.09.

The entertainment giant reported $1.45 EPS for the quarter, beating the consensus estimate of $1.21 by $0.24. The firm had revenue of $23.62 billion for the quarter, compared to analyst estimates of $23.15 billion. Walt Disney had a return on equity of 9.95% and a net margin of 6.07%. Walt Disney’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.21 earnings per share.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DIS. Rosenblatt Securities reiterated a “buy” rating and issued a $135.00 price target on shares of Walt Disney in a research note on Monday, February 10th. Needham & Company LLC reiterated a “buy” rating and set a $125.00 price target on shares of Walt Disney in a research note on Thursday. Guggenheim decreased their price objective on shares of Walt Disney from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday. Wolfe Research upgraded Walt Disney from a “peer perform” rating to an “outperform” rating and set a $112.00 target price on the stock in a research report on Monday, April 21st. Finally, The Goldman Sachs Group upped their target price on Walt Disney from $137.00 to $139.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Walt Disney has a consensus rating of “Moderate Buy” and an average target price of $123.54.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DIS. Arjuna Capital purchased a new stake in shares of Walt Disney during the 1st quarter worth $1,261,000. Headlands Technologies LLC boosted its holdings in Walt Disney by 2,649.2% during the first quarter. Headlands Technologies LLC now owns 30,654 shares of the entertainment giant’s stock worth $3,026,000 after buying an additional 29,539 shares in the last quarter. Ontario Teachers Pension Plan Board grew its position in Walt Disney by 3.3% during the first quarter. Ontario Teachers Pension Plan Board now owns 2,436,181 shares of the entertainment giant’s stock worth $240,451,000 after buying an additional 78,394 shares during the period. Deutsche Bank AG increased its holdings in Walt Disney by 7.1% in the first quarter. Deutsche Bank AG now owns 6,552,766 shares of the entertainment giant’s stock valued at $646,758,000 after buying an additional 432,575 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Walt Disney by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,871,341 shares of the entertainment giant’s stock valued at $1,073,001,000 after acquiring an additional 109,197 shares during the period. Institutional investors and hedge funds own 65.71% of the company’s stock.

Walt Disney Price Performance

The firm has a market cap of $191.50 billion, a PE ratio of 34.50, a price-to-earnings-growth ratio of 1.80 and a beta of 1.49. The company has a 50 day moving average price of $93.86 and a 200 day moving average price of $104.11. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 0.36.

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.