Disney Earnings Report Coming Tuesday
My three shares of Disney stock and I are excited to hear from the Walt Disney Company today. The Mouse is scheduled to divulge its fiscal third-quarter earnings report before the market opening on Tuesday, August 6.
Earnings Report Due Tuesday
Barron’s prefaced their predictions, with Nicholas Jasinski writing:
Disney stock (ticker: DIS) had returned 30% this year, including dividends, through last week. That is ahead of the S&P 500 ’s 19.2% return, and Disney’s media competitors’ stocks. Discovery (DISCA), Viacom (VIAB), and CBS (CBS) had returned 19%, 17.5%, and 16.1%, respectively, this year through last week.
FYI: The stock took a bit of a hit (down from $146.54 to $139.14) over the last five trading days, thanks to the uncertainty created by some tweets out of the Whitehouse.
High On Pixie Dust
However, Wall Street remains high on The Walt Disney Company:
- In its fiscal third quarter, Disney is expected to report $1.72 in adjusted earnings per share, down from $1.87 in the same quarter in 2018. Revenue is estimated to come in at $21.4 billion, versus $15.2 billion last year.
- Disney’s second-quarter adjusted earnings of $1.61 per share, reported on May 8, were 2% above analysts’ expectations. Sales were about 2% stronger than expected at $14.9 billion. The stock fell about 1% the next day, however, on a down day for the broader market.
- Wall Street analysts are bullish on the stock: 71% have a Buy or equivalent rating, while 29% recommend a Hold. No analysts rate Disney a Sell. Their average price target is $156.20, 10% above its recent $141.71.
Disney Stock: Progress City?
That’s good news for those of us who care. However, for the rest of the fandom, I’ll posit another reason to pay attention: Progress.
Think about it: At the Walt Disney Company, throughout the years, financial success has driven innovation and risk taking.
If the coffers are full, shareholders are happy, and everyone feels a lot more secure.