Shares of The Walt Disney Company (NYSE: DIS) have garnered a consensus recommendation of “Moderate Buy” from twenty-six analysts, according to a report by Marketbeat.com. This sentiment is reflected in the ratings, where one analyst has issued a sell recommendation, six have opted for a hold, and nineteen have classified the stock as a buy.
Analysts have set an average price target of $135.20 for the next year. Notably, Sanford C. Bernstein reaffirmed an “outperform” rating for Disney on November 12, 2023. Meanwhile, Wells Fargo & Company adjusted their price target down from $159.00 to $152.00 while maintaining an “overweight” rating. Similarly, Evercore ISI raised their price objective from $140.00 to $142.00 and reiterated their “outperform” rating. Other firms like Citigroup and Cowen have adjusted their targets to $140.00 and maintained a “hold” rating, respectively.
Recent Financial Performance
On November 13, 2023, Disney announced its quarterly earnings. The company reported earnings per share (EPS) of $1.11, surpassing the consensus estimate of $1.03 by $0.08. Despite this positive news, Disney’s revenue for the quarter stood at $22.46 billion, slightly below the forecasted $22.78 billion, reflecting a 0.5% decline compared to the same period last year.
The company’s financial ratios indicate a current ratio of 0.71, a quick ratio of 0.65, and a debt-to-equity ratio of 0.31. With a market capitalization of $198.79 billion and a price-to-earnings (P/E) ratio of 16.23, Disney continues to demonstrate solid financial metrics. The stock opened at $111.35 on Thursday, showing variability with a twelve-month low of $80.10 and a high of $124.69.
Dividend Announcement and Future Outlook
In addition to its earnings report, Disney declared a dividend of $0.75 per share, set to be distributed on July 22, 2024, to shareholders registered by June 30, 2024. This dividend yield represents 21.87%, showcasing the company’s commitment to returning value to its investors.
Analysts project that Disney could post an EPS of 5.47 for the current year, reflecting an ongoing assessment of the company’s potential in the entertainment sector. Founded in 1923 and headquartered in Burbank, California, Disney has evolved into a leading global entertainment and media conglomerate. Its extensive portfolio includes film and television production, streaming services, theme parks, consumer products, and live entertainment.
As Disney navigates through a challenging economic landscape, the mixed analyst sentiment underscores a cautious optimism regarding its recovery and growth trajectory.
