Walt Disney (NYSE:DIS) Updates FY24 Earnings Guidance

Walt Disney (NYSE:DIS) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of ~$4.70 for the period, compared to the consensus EPS estimate of $4.71.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Argus raised their target price on shares of Walt Disney from $125.00 to $140.00 and gave the stock a buy rating in a report on Wednesday, April 10th. UBS Group upped their price target on shares of Walt Disney from $120.00 to $140.00 and gave the company a buy rating in a research report on Wednesday, March 27th. Wells Fargo & Company upped their price target on shares of Walt Disney from $128.00 to $141.00 and gave the company an overweight rating in a research report on Tuesday, April 23rd. Morgan Stanley upped their price target on shares of Walt Disney from $110.00 to $135.00 and gave the company an overweight rating in a research report on Monday, March 4th. Finally, Rosenblatt Securities upped their price target on shares of Walt Disney from $129.00 to $137.00 and gave the company a buy rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $127.17.

Walt Disney Stock Performance

NYSE DIS traded down $10.62 during trading on Tuesday, hitting $105.85. 49,687,084 shares of the company’s stock traded hands, compared to its average volume of 11,986,380. The stock has a market capitalization of $194.16 billion, a price-to-earnings ratio of 64.66, a PEG ratio of 1.39 and a beta of 1.40. Walt Disney has a 12-month low of $78.73 and a 12-month high of $123.74. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.84. The business has a 50 day moving average of $114.67 and a 200-day moving average of $101.05.

Walt Disney (NYSE:DIS) last posted its quarterly earnings data on Tuesday, February 6th. The entertainment giant reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.25. Walt Disney had a net margin of 3.36% and a return on equity of 7.88%. The company had revenue of $23.50 billion for the quarter, compared to analysts’ expectations of $23.71 billion. During the same period in the prior year, the business earned $0.99 earnings per share. Walt Disney’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities research analysts anticipate that Walt Disney will post 4.7 earnings per share for the current fiscal year.

Walt Disney Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, July 25th. Investors of record on Monday, July 8th will be paid a $0.45 dividend. This represents a yield of 0.5%. The ex-dividend date is Monday, July 8th. Walt Disney’s payout ratio is 18.52%.

Insiders Place Their Bets

In other news, EVP Sonia L. Coleman sold 1,857 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $121.92, for a total transaction of $226,405.44. Following the completion of the transaction, the executive vice president now directly owns 4,400 shares in the company, valued at $536,448. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is owned by corporate insiders.

About Walt Disney

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.