Walt Disney (NYSE:DIS) Trading 0.7% Higher on Better-Than-Expected Earnings

Shares of The Walt Disney Company (NYSE:DIS) shot up 0.7% on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $106.48 and last traded at $106.11. 5,215,782 shares were traded during mid-day trading, a decline of 56% from the average session volume of 11,981,943 shares. The stock had previously closed at $105.39.

The entertainment giant reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. The company had revenue of $22.08 billion during the quarter, compared to the consensus estimate of $22.12 billion. Walt Disney had a net margin of 3.36% and a return on equity of 7.88%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.93 earnings per share.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DIS. Macquarie boosted their price objective on shares of Walt Disney from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Barclays reduced their price target on shares of Walt Disney from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wells Fargo & Company lifted their target price on shares of Walt Disney from $128.00 to $141.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. assumed coverage on Walt Disney in a report on Thursday, April 11th. They set an “overweight” rating and a $140.00 target price for the company. Finally, Raymond James raised their price target on shares of Walt Disney from $112.00 to $128.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. One 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $126.46.

Insiders Place Their Bets

In related news, EVP Sonia L. Coleman sold 1,857 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $121.92, for a total value of $226,405.44. Following the sale, the executive vice president now directly owns 4,400 shares in the company, valued at approximately $536,448. 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 insiders.

Institutional Investors Weigh In On Walt Disney

A number of institutional investors have recently added to or reduced their stakes in the company. Trian Fund Management L.P. grew its position in shares of Walt Disney by 411.6% in the 3rd quarter. Trian Fund Management L.P. now owns 32,868,307 shares of the entertainment giant’s stock worth $2,663,976,000 after acquiring an additional 26,443,257 shares in the last quarter. Norges Bank bought a new position in Walt Disney during the fourth quarter valued at about $1,938,647,000. Jennison Associates LLC bought a new stake in shares of Walt Disney in the 1st quarter worth approximately $1,490,492,000. ValueAct Holdings L.P. acquired a new position in shares of Walt Disney in the 4th quarter valued at $459,245,000. Finally, First Eagle Investment Management LLC purchased a new position in shares of Walt Disney during the third quarter valued at $326,171,000. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Walt Disney Trading Up 0.1 %

The company has a fifty day moving average of $114.59 and a 200-day moving average of $101.21. The firm has a market capitalization of $193.45 billion, a PE ratio of 65.10, a price-to-earnings-growth ratio of 1.39 and a beta of 1.40. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.84 and a quick ratio of 0.77.

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.