Walt Disney (NYSE:DIS) Shares Gap Up Following Earnings Beat

Walt Disney Co (NYSE:DIS) gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $125.70, but opened at $132.96. Walt Disney shares last traded at $137.96, with a volume of 24,167,237 shares trading hands.

The entertainment giant reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.12. The firm had revenue of $19.10 billion during the quarter, compared to analyst estimates of $19.02 billion. Walt Disney had a net margin of 19.02% and a return on equity of 13.08%. The company’s revenue was up 33.6% on a year-over-year basis. During the same quarter last year, the business posted $1.48 EPS.

A number of equities research analysts have issued reports on the stock. Imperial Capital decreased their target price on shares of Walt Disney from $140.00 to $139.00 and set an “in-line” rating for the company in a research note on Thursday, September 19th. Needham & Company LLC reissued a “hold” rating on shares of Walt Disney in a research note on Friday, September 27th. UBS Group decreased their target price on shares of Walt Disney from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday. Moffett Nathanson set a $150.00 target price on shares of Walt Disney and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Tigress Financial reissued a “buy” rating on shares of Walt Disney in a research note on Monday, August 26th. Seven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $150.47.

Several institutional investors have recently added to or reduced their stakes in DIS. Neville Rodie & Shaw Inc. raised its holdings in shares of Walt Disney by 3.6% during the 2nd quarter. Neville Rodie & Shaw Inc. now owns 105,566 shares of the entertainment giant’s stock valued at $14,741,000 after purchasing an additional 3,669 shares in the last quarter. Bath Savings Trust Co raised its holdings in Walt Disney by 1.7% in the 2nd quarter. Bath Savings Trust Co now owns 85,792 shares of the entertainment giant’s stock worth $11,980,000 after acquiring an additional 1,456 shares during the period. Thomasville National Bank raised its holdings in Walt Disney by 1.4% in the 2nd quarter. Thomasville National Bank now owns 162,075 shares of the entertainment giant’s stock worth $22,632,000 after acquiring an additional 2,276 shares during the period. Private Trust Co. NA raised its holdings in Walt Disney by 3.6% in the 2nd quarter. Private Trust Co. NA now owns 22,398 shares of the entertainment giant’s stock worth $3,127,000 after acquiring an additional 783 shares during the period. Finally, Baystate Wealth Management LLC raised its holdings in Walt Disney by 2.7% in the 2nd quarter. Baystate Wealth Management LLC now owns 5,414 shares of the entertainment giant’s stock worth $767,000 after acquiring an additional 142 shares during the period. Institutional investors and hedge funds own 68.42% of the company’s stock.

The stock has a market cap of $248.52 billion, a P/E ratio of 19.49, a P/E/G ratio of 4.43 and a beta of 0.96. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 0.38. The firm’s fifty day moving average is $131.00 and its 200 day moving average is $136.12.

About Walt Disney (NYSE:DIS)

The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company's Media Networks segment operates cable programming businesses under the ESPN, Disney, and Freeform brands; broadcast businesses, including ABC TV Network and eight owned television stations; and radio businesses.

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