Walt Disney (NYSE:DIS) Releases Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Walt Disney (NYSE:DIS) posted its quarterly earnings results on Wednesday. The entertainment giant reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.19, Briefing.com reports. The company had revenue of $23.20 billion for the quarter, compared to analyst estimates of $23.08 billion. Walt Disney had a net margin of 1.90% and a return on equity of 8.37%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 earnings per share. Walt Disney updated its FY24 guidance to $4.89 EPS and its FY 2024 guidance to 4.890-4.890 EPS.

Walt Disney Stock Up 0.3 %

NYSE:DIS traded up $0.25 on Friday, reaching $86.21. 16,008,396 shares of the stock traded hands, compared to its average volume of 11,678,434. The company has a market capitalization of $157.16 billion, a price-to-earnings ratio of 93.71, a PEG ratio of 1.15 and a beta of 1.40. The company has a current ratio of 0.75, a quick ratio of 0.69 and a debt-to-equity ratio of 0.38. Walt Disney has a 12 month low of $78.73 and a 12 month high of $123.74. The company’s fifty day simple moving average is $96.90 and its 200 day simple moving average is $105.05.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DIS. Wells Fargo & Company lowered their price objective on shares of Walt Disney from $136.00 to $116.00 and set an “overweight” rating for the company in a report on Thursday. Raymond James lowered their price target on shares of Walt Disney from $123.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday. The Goldman Sachs Group started coverage on shares of Walt Disney in a research report on Tuesday, June 25th. They set a “buy” rating and a $125.00 price target for the company. Barclays dropped their price target on shares of Walt Disney from $130.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Moffett Nathanson dropped their price target on shares of Walt Disney from $130.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $118.75.

Insider Buying and Selling at Walt Disney

In other news, Director Calvin Mcdonald acquired 11,756 shares of Walt Disney stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of $85.06 per share, for a total transaction of $999,965.36. Following the purchase, the director now owns 22,313 shares in the company, valued at $1,897,943.78. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.10% of the stock is owned by company 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.