Walt Disney Company (The) (NYSE:DIS) Rating Increased to Hold at Zacks Investment Research

Walt Disney Company (The) (NYSE:DIS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday, November 3rd.

According to Zacks, “Disney’s shares have outpaced the industry in a year driven by sturdy movie business and solid performance of Parks & Resorts. The studio will continue its success given an impressive lineup of big budget movies up to 2018. The company’s decision to terminate distribution agreement with Netflix for subscription streaming and having its own streaming services – one for Disney and Pixar brands and another for ESPN followers is likely to be a driving factor in the long run. However, the stock recently came under pressure after CEO cautioned that fiscal 2017 earnings are likely to be similar to last year. Ongoing concerns regarding ESPN future and havoc at its Lucasfilm division due to the delay in the release of Star Wars: Episode IX also hurt the stock. Nevertheless, in an effort to attract online viewers, Disney, which had earlier acquired 33% stake BAMTech, announced its intention to acquire another 42% stake in the firm.”

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets restated an “underperform” rating and issued a $90.00 price objective (down from $95.00) on shares of Walt Disney Company (The) in a research note on Thursday, August 10th. FBR & Co reiterated a “hold” rating and set a $97.00 price target on shares of Walt Disney Company (The) in a research report on Friday, September 8th. BidaskClub cut shares of Walt Disney Company (The) from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Guggenheim restated a “buy” rating and issued a $122.00 price objective (down from $128.00) on shares of Walt Disney Company (The) in a research report on Wednesday, July 12th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $125.00 price objective on shares of Walt Disney Company (The) in a research report on Tuesday, July 25th. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seventeen have given a buy rating to the company’s stock. Walt Disney Company (The) presently has an average rating of “Hold” and an average target price of $112.79.

Shares of Walt Disney Company (NYSE:DIS) traded down $0.10 during trading hours on Friday, hitting $103.59. 1,209,722 shares of the company were exchanged, compared to its average volume of 7,193,422. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 0.42. The stock has a market cap of $160,040.00, a P/E ratio of 18.10, a P/E/G ratio of 2.19 and a beta of 1.37. Walt Disney Company has a 52 week low of $96.20 and a 52 week high of $116.10.

Walt Disney Company (The) (NYSE:DIS) last issued its quarterly earnings results on Thursday, November 9th. The entertainment giant reported $1.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.05). Walt Disney Company (The) had a return on equity of 19.66% and a net margin of 16.29%. The company had revenue of $12.78 billion during the quarter, compared to analysts’ expectations of $13.30 billion. During the same period last year, the firm posted $1.10 earnings per share. Walt Disney Company (The)’s quarterly revenue was down 2.8% compared to the same quarter last year. analysts predict that Walt Disney Company will post 6.24 EPS for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HM Capital Management LLC increased its position in shares of Walt Disney Company (The) by 0.5% during the 1st quarter. HM Capital Management LLC now owns 2,690 shares of the entertainment giant’s stock valued at $305,000 after purchasing an additional 14 shares during the last quarter. Tdam USA Inc. increased its position in shares of Walt Disney Company (The) by 4.1% during the 2nd quarter. Tdam USA Inc. now owns 195,498 shares of the entertainment giant’s stock valued at $20,666,000 after purchasing an additional 7,785 shares during the last quarter. State Treasurer State of Michigan increased its position in shares of Walt Disney Company (The) by 73.3% during the 1st quarter. State Treasurer State of Michigan now owns 1,355,053 shares of the entertainment giant’s stock valued at $153,649,000 after purchasing an additional 573,000 shares during the last quarter. Walter & Keenan Financial Consulting Co. MI ADV increased its position in shares of Walt Disney Company (The) by 7.9% during the 2nd quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 24,719 shares of the entertainment giant’s stock valued at $2,626,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its position in shares of Walt Disney Company (The) by 1.4% during the 1st quarter. Mutual of America Capital Management LLC now owns 175,248 shares of the entertainment giant’s stock valued at $19,871,000 after purchasing an additional 2,351 shares during the last quarter. 61.06% of the stock is currently owned by hedge funds and other institutional investors.

Walt Disney Company (The) Company Profile

The Walt Disney Company is an entertainment company. The Company operates in four business segments: Media Networks, Parks and Resorts, Studio Entertainment, and Consumer Products & Interactive Media. The media networks segment includes cable and broadcast television networks, television production and distribution operations, domestic television stations, and radio networks and stations.

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Analyst Recommendations for Walt Disney Company (The) (NYSE:DIS)

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