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

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

Walt Disney Stock Performance

Shares of NYSE DIS traded up $0.05 during mid-day trading on Wednesday, reaching $105.44. 9,723,544 shares of the company’s stock were exchanged, compared to its average volume of 12,038,240. The firm has a 50-day moving average price of $114.59 and a two-hundred day moving average price of $101.21. 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 has a market capitalization of $193.41 billion, a price-to-earnings ratio of 65.12, a price-to-earnings-growth ratio of 1.39 and a beta of 1.40. Walt Disney has a 52 week low of $78.73 and a 52 week high of $123.74.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Walt Disney in a report on Thursday, April 11th. They set an “overweight” rating and a $140.00 price target on the stock. Guggenheim increased their price target on Walt Disney from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Loop Capital increased their target price on shares of Walt Disney from $113.00 to $140.00 and gave the company a “buy” rating in a research report on Monday. Evercore ISI dropped their price target on shares of Walt Disney from $130.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Daiwa Capital Markets restated a “buy” rating and issued a $133.00 target price on shares of Walt Disney in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $126.67.

Insider Activity at Walt Disney

In other 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 owns 4,400 shares in the company, valued at approximately $536,448. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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.