Walt Disney (NYSE:DIS) Releases Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Walt Disney (NYSE:DIS) released its earnings results on Wednesday. The entertainment giant reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.19, Briefing.com reports. The company had revenue of $23.20 billion during the quarter, compared to analyst estimates of $23.08 billion. Walt Disney had a return on equity of 8.37% and a net margin of 1.90%. Walt Disney’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. Walt Disney updated its FY24 guidance to $4.89 EPS and its FY 2024 guidance to 4.890-4.890 EPS.

Walt Disney Price Performance

Shares of DIS stock traded up $0.25 on Friday, reaching $86.21. The company’s stock had a trading volume of 16,008,396 shares, compared to its average volume of 11,678,434. The company has a quick ratio of 0.69, a current ratio of 0.75 and a debt-to-equity ratio of 0.38. Walt Disney has a 12-month low of $78.73 and a 12-month high of $123.74. The company has a market capitalization of $157.16 billion, a P/E ratio of 93.71, a PEG ratio of 1.15 and a beta of 1.40. The stock’s 50 day simple moving average is $96.90 and its 200-day simple moving average is $105.05.

Wall Street Analyst Weigh In

DIS has been the subject of several recent analyst reports. Bank of America reduced their target price on Walt Disney from $145.00 to $120.00 and set a “buy” rating for the company in a report on Thursday. Barclays reduced their target price on Walt Disney from $130.00 to $105.00 and set an “overweight” rating for the company in a report on Thursday. Raymond James reduced their target price on Walt Disney from $123.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday. Macquarie upped their target price on Walt Disney from $104.00 to $107.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Finally, Wells Fargo & Company reduced their price objective on Walt Disney from $136.00 to $116.00 and set an “overweight” rating for the company in a report on Thursday. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $118.75.

Insider Buying and Selling

In other Walt Disney news, Director Calvin Mcdonald acquired 11,756 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $85.06 per share, for a total transaction of $999,965.36. Following the completion of the transaction, the director now owns 22,313 shares of the company’s stock, valued at approximately $1,897,943.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is currently owned by company insiders.

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.