Wall Street Revisions on Walt Disney's Third Quarter Outlook
Analysts Update Expectations for Walt Disney Company
The Walt Disney Company (NYSE: DIS) is set to unveil its earnings for the third quarter before the market opens. Analysts are closely monitoring the company, expecting boosted earnings per share of $1.44 compared to $1.39 in the same quarter last year. Additionally, quarterly revenue is anticipated to reach $23.76 billion, showcasing growth from $23.16 billion in the previous year.
Consistent Revenue Performance
Walt Disney has shown commendable performance in terms of revenue over the past few quarters, having surpassed analyst revenue expectations in four continuous quarters and in six out of the last ten quarters overall. This trend bodes well for investor confidence as the company continues to adjust its strategies in a rapidly changing market.
Market Response to Stock Performance
On the previous trading day, DIS stock closed lower, down by 0.9%, settling at $118.32. Despite this dip, analysts remain optimistic about the company’s potential in the near future.
Recent Analyst Ratings and Price Target Adjustments
Evercore ISI Group
Analyst Vijay Jayant from Evercore ISI Group recently reiterated an Outperform rating, increasing the price target from $134 to $140. His approach continues to reflect a solid accuracy rate of 67%.
Morgan Stanley
Morgan Stanley’s Benjamin Swinburne also holds a positive outlook, affirming an Overweight rating while lifting the price target from $120 to $140, enjoying an impressive accuracy rate of 76%.
JP Morgan
Furthermore, JP Morgan analyst Philip Cusick has maintained an Overweight rating with an increased target price going from $130 to $138, reflecting his 62% accuracy rate in the market anticipation.
UBS Insights
UBS analyst John Hodulik has adopted a Buy rating for the company's stock, raising the price target from $120 to $138 based on market trends and consumer engagement, with a robust accuracy of 76%.
Citigroup Perspective
Citigroup analyst Jason Bazinet has also sustained a Buy rating while upping the price target from $125 to $140, showcasing a solid accuracy rate of 74% within his evaluations.
Investment Considerations for DIS Stock
Investors considering DIS stock may find comfort in the current analyst sentiments and the company's ability to outperform expectations. The sustained interest from multiple analysts underlines potential growth and recovery for Walt Disney in the upcoming quarters.
Frequently Asked Questions
What are the expected earnings for Disney in Q3?
Analysts project earnings to be $1.44 per share for Disney's third quarter.
How has Disney's stock been performing recently?
The stock dropped by 0.9%, closing at $118.32 recently.
What are analyst predictions for Disney's revenue?
Disney is projected to report quarterly revenue of $23.76 billion.
Which analysts have upgraded Disney's stock ratings?
Evercore, Morgan Stanley, JP Morgan, UBS, and Citigroup have all updated their ratings positively.
What is the significance of analysts maintaining bullish ratings?
These ratings signal continued confidence in Disney’s growth and profitability, potentially encouraging investors.
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