Drexel Hamilton lowered shares of The Walt Disney Co. (NYSE:DIS) from a buy rating to a hold rating in a report issued on Monday. The brokerage currently has $102.00 price objective on the entertainment giant’s stock, down from their previous price objective of $112.00.
A number of other brokerages have also issued reports on DIS. Sanford C. Bernstein reissued a market perform rating on shares of The Walt Disney in a research note on Friday, June 17th. Morgan Stanley reissued a hold rating on shares of The Walt Disney in a research note on Sunday, July 17th. Citigroup Inc. lowered their price objective on shares of The Walt Disney from $120.00 to $117.00 and set a buy rating for the company in a research note on Thursday, August 11th. Hilliard Lyons raised shares of The Walt Disney to a buy rating in a research note on Thursday, August 25th. Finally, JPMorgan Chase & Co. reaffirmed an overweight rating and issued a $118.00 price objective on shares of The Walt Disney in a research note on Saturday, August 13th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Hold and an average target price of $109.71.
Shares of The Walt Disney (NYSE:DIS) opened at 92.20 on Monday. The stock has a market cap of $148.17 billion, a PE ratio of 16.57 and a beta of 1.28. The Walt Disney has a 12 month low of $86.25 and a 12 month high of $120.65. The firm’s 50-day moving average is $94.45 and its 200 day moving average is $98.01.
The Walt Disney (NYSE:DIS) last issued its earnings results on Tuesday, August 9th. The entertainment giant reported $1.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.01. The firm earned $14.20 billion during the quarter, compared to analyst estimates of $14.16 billion. The Walt Disney had a net margin of 16.48% and a return on equity of 19.98%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.45 earnings per share. On average, equities analysts predict that The Walt Disney will post $5.79 EPS for the current year.
Several hedge funds have recently modified their holdings of the company. Parnassus Investments CA acquired a new stake in shares of The Walt Disney during the second quarter worth about $392,780,000. Bank of Montreal Can acquired a new stake in shares of The Walt Disney during the second quarter worth about $202,393,000. Emerald Acquisition Ltd. acquired a new stake in shares of The Walt Disney during the second quarter worth about $201,593,000. Nordea Investment Management AB increased its stake in shares of The Walt Disney by 430.0% in the second quarter. Nordea Investment Management AB now owns 2,156,556 shares of the entertainment giant’s stock worth $210,954,000 after buying an additional 1,749,646 shares during the last quarter. Finally, Cohen & Steers Inc. increased its stake in shares of The Walt Disney by 282.4% in the second quarter. Cohen & Steers Inc. now owns 1,200,000 shares of the entertainment giant’s stock worth $1,194,000 after buying an additional 886,207 shares during the last quarter. 57.92% of the stock is owned by hedge funds and other institutional investors.
About The Walt Disney
The Walt Disney Company is a diversified entertainment company. The Company’s business segments include Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products and Interactive. The Media Networks segment includes cable and broadcast television networks, television production operations, television distribution, domestic television stations, and radio networks and stations.
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