Walt Disney (NYSE:DIS) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Walt Disney (NYSE:DIS) released its quarterly earnings results on Tuesday. The entertainment giant reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09, Briefing.com reports. The business had revenue of $22.08 billion during the quarter, compared to the consensus estimate of $22.12 billion. Walt Disney had a net margin of 3.36% and a return on equity of 7.88%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. Walt Disney updated its FY24 guidance to ~$4.70 EPS.

Walt Disney Trading Up 0.1 %

Walt Disney stock traded up $0.12 during midday trading on Wednesday, reaching $105.51. The stock had a trading volume of 10,005,169 shares, compared to its average volume of 12,040,856. The firm has a market cap of $193.54 billion, a price-to-earnings ratio of 65.12, a PEG ratio of 1.39 and a beta of 1.40. Walt Disney has a twelve month low of $78.73 and a twelve month high of $123.74. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.84 and a quick ratio of 0.77. The firm’s fifty day simple moving average is $114.59 and its two-hundred day simple moving average is $101.21.

Insider Activity at Walt Disney

In related news, EVP Sonia L. Coleman sold 1,857 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $121.92, for a total transaction of $226,405.44. Following the completion of the sale, 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 is accessible through the SEC website. 0.10% of the stock is owned by insiders.

Analysts Set New Price Targets

DIS has been the topic of several research analyst reports. Barclays raised shares of Walt Disney from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $95.00 to $135.00 in a research report on Monday, March 25th. Tigress Financial reaffirmed a “buy” rating and set a $136.00 target price on shares of Walt Disney in a report on Wednesday, February 21st. Evercore ISI decreased their target price on Walt Disney from $130.00 to $128.00 and set an “outperform” rating for the company in a research report on Wednesday. Guggenheim lifted their price objective on shares of Walt Disney from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Walt Disney in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Walt Disney presently has an average rating of “Moderate Buy” and an average target price of $126.67.

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.