Walt Disney (NYSE:DIS) Releases FY24 Earnings Guidance

Walt Disney (NYSE:DIS) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.89 for the period, compared to the consensus estimate of $4.77.

Walt Disney Stock Performance

Shares of Walt Disney stock traded down $1.61 on Wednesday, reaching $88.36. The stock had a trading volume of 11,289,623 shares, compared to its average volume of 11,443,022. The business’s 50-day moving average price is $97.87 and its two-hundred day moving average price is $105.38. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.69 and a current ratio of 0.75. Walt Disney has a fifty-two week low of $78.73 and a fifty-two week high of $123.74. The stock has a market cap of $161.08 billion, a P/E ratio of 97.79, a price-to-earnings-growth ratio of 1.15 and a beta of 1.40.

Walt Disney (NYSE:DIS) last released its earnings results on Tuesday, May 7th. The entertainment giant reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. The firm had revenue of $22.08 billion during the quarter, compared to analysts’ expectations of $22.12 billion. Walt Disney had a net margin of 1.90% and a return on equity of 8.37%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.93 EPS. On average, sell-side analysts forecast that Walt Disney will post 4.77 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on DIS. Barclays lowered their target price on shares of Walt Disney from $135.00 to $130.00 and set an overweight rating on the stock in a report on Wednesday, May 8th. The Goldman Sachs Group began coverage on shares of Walt Disney in a report on Tuesday, June 25th. They issued a buy rating and a $125.00 target price on the stock. Needham & Company LLC reissued a buy rating and set a $145.00 price objective on shares of Walt Disney in a report on Wednesday, July 3rd. Redburn Atlantic raised shares of Walt Disney from a sell rating to a neutral rating and set a $100.00 price objective on the stock in a report on Tuesday, May 21st. Finally, Loop Capital decreased their price objective on shares of Walt Disney from $139.00 to $130.00 and set a buy rating on the stock in a report on Tuesday, July 30th. Three 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 stock has an average rating of Moderate Buy and a consensus target price of $127.08.

Insider Activity at Walt Disney

In other Walt Disney news, EVP Sonia L. Coleman sold 4,400 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $106.00, for a total transaction of $466,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is 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.