Walt Disney (NYSE:DIS) Releases FY24 Earnings Guidance

Walt Disney (NYSE:DIS) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of ~$4.70 for the period, compared to the consensus earnings per share estimate of $4.71.

Walt Disney Stock Down 8.6 %

NYSE:DIS opened at $106.45 on Tuesday. Walt Disney has a 52-week low of $78.73 and a 52-week high of $123.74. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.84. The stock has a 50-day simple moving average of $114.67 and a 200 day simple moving average of $101.05. The company has a market cap of $195.26 billion, a PE ratio of 71.90, a PEG ratio of 1.39 and a beta of 1.40.

Walt Disney (NYSE:DIS) last posted its quarterly earnings results on Tuesday, February 6th. The entertainment giant reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.25. The firm had revenue of $23.50 billion for the quarter, compared to analyst estimates of $23.71 billion. Walt Disney had a net margin of 3.36% and a return on equity of 7.88%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 earnings per share. On average, sell-side analysts expect that Walt Disney will post 4.7 EPS for the current fiscal year.

Walt Disney Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, July 25th. Shareholders of record on Monday, July 8th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a yield of 0.5%. Walt Disney’s dividend payout ratio (DPR) is presently 18.52%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DIS. Daiwa Capital Markets reiterated a buy rating and set a $133.00 price objective on shares of Walt Disney in a research note on Monday, April 1st. Deutsche Bank Aktiengesellschaft increased their price target on Walt Disney from $125.00 to $130.00 and gave the company a buy rating in a research note on Monday. UBS Group boosted their price objective on Walt Disney from $120.00 to $140.00 and gave the stock a buy rating in a research report on Wednesday, March 27th. Barclays upgraded Walt Disney from an equal weight rating to an overweight rating and increased their target price for the company from $95.00 to $135.00 in a research report on Monday, March 25th. Finally, Morgan Stanley boosted their price target on Walt Disney from $110.00 to $135.00 and gave the stock an overweight rating in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $127.17.

Insider Transactions at Walt Disney

In other Walt Disney news, EVP Sonia L. Coleman sold 1,857 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $121.92, for a total value of $226,405.44. Following the transaction, the executive vice president now directly owns 4,400 shares in the company, valued at $536,448. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.10% of the company’s stock.

Walt Disney Company Profile

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.