The Walt Disney Company (DIS) is a global entertainment giant that operates across media, entertainment, and theme parks. With a market cap of $173.2 billion, it produces film and television content, runs direct-to-consumer streaming platforms, and manages iconic theme parks and resorts worldwide. The Burbank, California-based company is expected to announce its fiscal Q4 earnings results before the market opens on Thursday, Nov. 14.
Ahead of this event, analysts expect the media giant to report a profit of $1.09 per share, up 32.9% from $0.82 per share in the previous year's quarter. The company has surpassed Wall Street's bottom-line estimates in the past four quarters. DIS exceeded the consensus EPS estimate by a margin of 15.8% in the most recent quarter.
For fiscal 2024, analysts expect DIS to report EPS of $4.93, up 31.1% from $3.76 in fiscal 2023.
DIS stock has risen 17.9% over the past 52 weeks, lagging behind both the S&P 500 Index's ($SPX) 38.7% rise and the Communication Services Select Sector SPDR ETF Fund's (XLC) 40.4% surge over the same period.
Despite reporting better-than-expected Q3 adjusted EPS of $1.39 and revenue of $23.2 billion, Disney shares fell 4.5% on Aug. 7 due to concerns about weakening demand in its Parks, Experiences, and Products segment. Disney projected a “mid-single-digit” decline in parks' operating income, driven by lower attendance and spending, especially in domestic parks and Disneyland Paris. Rising operational costs, particularly in domestic parks, and anticipated pre-launch expenses for upcoming Disney Cruise Line ventures pressured investor sentiment. The company’s modest outlook for Disney+ subscriber growth further dampened sentiment, overshadowing its progress in streaming profitability.
Analysts' consensus rating on Walt Disney stock is bullish, with a "Strong Buy" rating overall. Out of 29 analysts covering the stock, opinions include 19 "Strong Buys," three "Moderate Buys," and seven "Holds." DIS's average analyst price target is $114.71, suggesting a modest potential upside of 20.7% from current levels.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
