Walt Disney (DIS) Hits New 52-Week High Following Earnings Beat

Walt Disney Co (NYSE:DIS) shares reached a new 52-week high during trading on Friday following a better than expected earnings announcement. The company traded as high as $120.20 and last traded at $118.38, with a volume of 747041 shares trading hands. The stock had previously closed at $116.00.

The entertainment giant reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.17. Walt Disney had a net margin of 20.76% and a return on equity of 21.37%. The company had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $13.76 billion. During the same quarter last year, the business earned $1.07 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year.

DIS has been the topic of a number of recent analyst reports. Imperial Capital raised their target price on shares of Walt Disney from $108.00 to $112.00 and gave the stock an “inline” rating in a research note on Wednesday, August 8th. Zacks Investment Research upgraded shares of Walt Disney from a “sell” rating to a “hold” rating in a research note on Monday, October 1st. Pivotal Research restated a “sell” rating and set a $95.00 target price on shares of Walt Disney in a research note on Sunday, September 23rd. ValuEngine upgraded shares of Walt Disney from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $140.00 price objective on shares of Walt Disney in a research report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. Walt Disney presently has a consensus rating of “Buy” and an average price target of $120.84.

In other Walt Disney news, Chairman Robert A. Iger sold 47,733 shares of Walt Disney stock in a transaction on Friday, November 9th. The shares were sold at an average price of $120.00, for a total transaction of $5,727,960.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mary Jayne Parker sold 29,192 shares of Walt Disney stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $117.99, for a total transaction of $3,444,364.08. Following the transaction, the executive vice president now directly owns 29,199 shares of the company’s stock, valued at $3,445,190.01. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,838 shares of company stock valued at $9,391,319. 0.38% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of DIS. Phocas Financial Corp. boosted its stake in Walt Disney by 989,639.9% during the second quarter. Phocas Financial Corp. now owns 67,054,876 shares of the entertainment giant’s stock worth $703,000 after buying an additional 67,048,101 shares during the period. Dimensional Fund Advisors LP boosted its stake in Walt Disney by 22.2% during the second quarter. Dimensional Fund Advisors LP now owns 6,228,738 shares of the entertainment giant’s stock worth $652,841,000 after buying an additional 1,129,743 shares during the period. Ruffer LLP boosted its stake in Walt Disney by 39.1% during the second quarter. Ruffer LLP now owns 3,977,520 shares of the entertainment giant’s stock worth $417,261,000 after buying an additional 1,117,959 shares during the period. Cornerstone Wealth Management LLC boosted its stake in Walt Disney by 10,630.8% during the second quarter. Cornerstone Wealth Management LLC now owns 1,022,536 shares of the entertainment giant’s stock worth $9,705,000 after buying an additional 1,013,007 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Walt Disney by 112.1% during the second quarter. Renaissance Technologies LLC now owns 1,665,507 shares of the entertainment giant’s stock worth $174,562,000 after buying an additional 880,100 shares during the period. 63.15% of the stock is owned by institutional investors.

The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $174.08 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 1.48 and a beta of 1.17.

TRADEMARK VIOLATION WARNING: This story was posted by WKRB News and is the sole property of of WKRB News. If you are viewing this story on another site, it was illegally copied and reposted in violation of international copyright laws. The original version of this story can be viewed at https://www.wkrb13.com/2018/11/11/walt-disney-dis-hits-new-52-week-high-following-earnings-beat.html.

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 services under the brand ESPN, Disney, and Freeform; broadcast businesses, which include the ABC TV Network and eight owned television stations; radio businesses consisting of the ESPN Radio network; and the Radio Disney network.

See Also: Fundamental Analysis

Receive News & Ratings for Walt Disney Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Walt Disney and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply