Walt Disney (NYSE:DIS) Issues FY24 Earnings Guidance

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Rosenblatt Securities lifted their target price on Walt Disney from $129.00 to $137.00 and gave the company a buy rating in a report on Tuesday, April 2nd. Needham & Company LLC reissued a buy rating and issued a $145.00 price objective on shares of Walt Disney in a research report on Tuesday. Macquarie raised their price objective on Walt Disney from $94.00 to $104.00 and gave the company a neutral rating in a research report on Thursday, February 8th. Daiwa Capital Markets reissued a buy rating and issued a $133.00 price objective on shares of Walt Disney in a research report on Monday, April 1st. Finally, Evercore ISI raised their price objective on Walt Disney from $115.00 to $130.00 and gave the company an outperform rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, Walt Disney currently has an average rating of Moderate Buy and a consensus target price of $127.17.

Walt Disney Stock Performance

DIS stock traded down $10.62 during midday trading on Tuesday, reaching $105.85. The company had a trading volume of 49,687,084 shares, compared to its average volume of 11,986,380. The company has a quick ratio of 0.77, a current ratio of 0.84 and a debt-to-equity ratio of 0.39. The stock has a 50 day moving average price of $114.67 and a 200 day moving average price of $101.05. The firm has a market capitalization of $194.16 billion, a PE ratio of 64.66, a P/E/G ratio of 1.39 and a beta of 1.40. Walt Disney has a fifty-two week low of $78.73 and a fifty-two week high of $123.74.

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

Walt Disney Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, July 25th. Shareholders of record on Monday, July 8th will be issued a $0.45 dividend. The ex-dividend date is Monday, July 8th. This represents a dividend yield of 0.5%. Walt Disney’s dividend payout ratio is currently 18.52%.

Insider Buying and Selling at Walt Disney

In other Walt Disney news, EVP Sonia L. Coleman sold 1,857 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 4,400 shares of the company’s stock, valued at approximately $536,448. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.10% of the company’s stock.

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.