Based in Burbank, California, The Walt Disney Company (DIS) is a global entertainment powerhouse, pioneering advancements in film, television, and theme parks. With a market cap of $162.63 billion, Disney is renowned for its iconic portfolio that enhances entertainment experiences through innovative storytelling and state-of-the-art technology. The company is set to announce its fiscal Q3 earnings results before the market opens on Wednesday, Aug. 7.
Ahead of the event, analysts expect DIS to report a profit of $1.19 per share, up 15.5% from $1.03 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
Walt Disney’s adjusted earnings of $1.21 per share for the last quarter surpassed the consensus estimate by 8%. Strong direct-to-consumer and Parks, Experiences, and Products revenues drove its Q2 performance.
For fiscal 2024, analysts expect DIS to report EPS of $4.75, up 26.3% from $3.76 in fiscal 2023.
DIS stock is down 1.2% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 13.2% gains and the Communication Services Select Sector SPDR ETF’s (XLC) 13.1% returns over the same time frame.
DIS stock plunged after its fiscal Q2 earnings report due to uncertainty about advertising revenue and the future of in-person movies. The company gave soft guidance for Q3.
The consensus opinion on DIS stock is bullish, with an overall “Strong Buy” rating. Out of 27 analysts covering the stock, 18 advise a “Strong Buy” rating, four suggest a “Moderate Buy” rating, and five recommend a “Hold.”
This configuration is more bullish than three months ago when the stock had an overall “Moderate Buy” rating. DIS' average analyst price target is $127.42, indicating a potential upside of 42.8% from the current levels.
On the date of publication, Rashmi Kumari 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.
