Seaport Res Ptn Comments on The Walt Disney Company’s Q2 2024 Earnings (NYSE:DIS)

The Walt Disney Company (NYSE:DIS) – Stock analysts at Seaport Res Ptn reduced their Q2 2024 EPS estimates for Walt Disney in a research note issued on Monday, October 30th. Seaport Res Ptn analyst D. Joyce now anticipates that the entertainment giant will post earnings per share of $1.12 for the quarter, down from their previous forecast of $1.56. Seaport Res Ptn currently has a “Buy” rating on the stock. The consensus estimate for Walt Disney’s current full-year earnings is $3.65 per share. Seaport Res Ptn also issued estimates for Walt Disney’s Q3 2024 earnings at $1.33 EPS, FY2024 earnings at $4.85 EPS and FY2025 earnings at $7.10 EPS.

Walt Disney (NYSE:DIS) last released its quarterly earnings results on Wednesday, August 9th. The entertainment giant reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. Walt Disney had a net margin of 2.56% and a return on equity of 6.45%. The company had revenue of $22.33 billion for the quarter, compared to the consensus estimate of $22.50 billion. During the same quarter in the prior year, the firm earned $1.09 earnings per share. Walt Disney’s revenue was up 3.8% on a year-over-year basis.

A number of other equities analysts have also recently commented on DIS. Deutsche Bank Aktiengesellschaft dropped their target price on Walt Disney from $131.00 to $120.00 in a report on Tuesday, August 8th. Citigroup dropped their price target on shares of Walt Disney from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, August 16th. Credit Suisse Group reduced their price objective on shares of Walt Disney from $126.00 to $122.00 and set an “outperform” rating on the stock in a research report on Monday, August 21st. Truist Financial reiterated a “buy” rating and issued a $105.00 price target on shares of Walt Disney in a report on Tuesday, September 19th. Finally, Raymond James assumed coverage on Walt Disney in a report on Monday, September 18th. They set an “outperform” rating and a $97.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, Walt Disney presently has an average rating of “Moderate Buy” and a consensus price target of $111.40.

Walt Disney Stock Up 2.7 %

Shares of NYSE:DIS opened at $83.29 on Thursday. The company has a market cap of $152.40 billion, a price-to-earnings ratio of 65.91, a PEG ratio of 1.24 and a beta of 1.30. Walt Disney has a 12 month low of $78.73 and a 12 month high of $118.18. The company has a current ratio of 1.07, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $82.48 and a 200 day moving average price of $88.15.

Hedge Funds Weigh In On Walt Disney

Several hedge funds have recently made changes to their positions in DIS. Dark Forest Capital Management LP purchased a new position in shares of Walt Disney during the 1st quarter valued at about $28,000. Worth Asset Management LLC purchased a new position in Walt Disney during the first quarter valued at approximately $29,000. GeoWealth Management LLC lifted its holdings in Walt Disney by 136.9% in the second quarter. GeoWealth Management LLC now owns 334 shares of the entertainment giant’s stock valued at $30,000 after acquiring an additional 193 shares during the period. MBM Wealth Consultants LLC boosted its position in Walt Disney by 197.6% in the 4th quarter. MBM Wealth Consultants LLC now owns 366 shares of the entertainment giant’s stock worth $33,000 after purchasing an additional 243 shares in the last quarter. Finally, Fortis Capital Advisors LLC acquired a new stake in shares of Walt Disney during the 4th quarter worth approximately $39,000. 61.17% of the stock is owned by institutional investors and hedge funds.

About Walt Disney

The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. It operates through two segments, Disney Media and Entertainment Distribution; and Disney Parks, Experiences and Products. The company engages in the film and episodic television content production and distribution activities, as well as operates television networks under the ABC, Disney, ESPN, Freeform, FX, Fox, National Geographic, and Star brands; and studios that produces films under the Walt Disney Pictures, Twentieth Century Studios, Marvel, Lucasfilm, Pixar, and Searchlight Pictures banners.