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

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

Walt Disney Stock Performance

DIS stock traded up $0.12 during trading on Wednesday, reaching $105.51. The company had a trading volume of 10,005,169 shares, compared to its average volume of 12,040,856. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.84. Walt Disney has a twelve month low of $78.73 and a twelve month high of $123.74. The company has a market cap of $193.54 billion, a price-to-earnings ratio of 65.12, a price-to-earnings-growth ratio of 1.39 and a beta of 1.40. The firm has a 50-day simple moving average of $114.59 and a 200-day simple moving average of $101.21.

Insiders Place Their Bets

In related news, EVP Sonia L. Coleman sold 1,857 shares of the company’s stock in a transaction on Monday, April 1st. The stock was 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 of the company’s stock, valued at approximately $536,448. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

DIS has been the subject of a number of recent research reports. Tigress Financial restated a “buy” rating and issued a $136.00 price objective on shares of Walt Disney in a report on Wednesday, February 21st. The Goldman Sachs Group lowered their price objective on Walt Disney from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Morgan Stanley increased their price objective on shares of Walt Disney from $110.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Evercore ISI lowered their target price on Walt Disney from $130.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Raymond James lifted their price objective on shares of Walt Disney from $112.00 to $128.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, Walt Disney presently has an average rating of “Moderate Buy” and an average price target of $126.67.

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.