Revenue was flat versus a year ago at $23.55 billion but earnings of $1.22 per share easily passed the $0.99 that analysts were expecting. Cost-cutting measures have taken hold faster than expected and management said it expects to exceed its goal of $7.5 billion in cost cuts set in 2023. Walt Disney (DIS 1.10%) reported fiscal first-quarter 2024 financial results for the period ended Dec. 30, 2023, after the market closed on Wednesday and investors liked what they saw. Shares were up 12.7% in early trading on Thursday and are still up 11.8% at noon E.T. Looking ahead, investors should closely monitor the $126.50 region, where the price may encounter overhead resistance from the August 2022 swing high.
- In 1996, the company acquired Capital Cities/ABC for $19 billion, which gave the Walt Disney Company the ability to broadcast its entertainment content on the Internet.
- The company’s subsidiaries, including Hollywood Pictures, Buena Vista Distribution, Disney Studios and Touchstone Films showed strong performance alongside the growth in Disney consumer products.
- Three factors drove the media stock higher and they set the company up for even more long-term success.
- Insiders that own company stock include Amy Chang, Brent Woodford, Christine M Mccarthy, Robert A Chapek, Robert A Iger, Sonia L Coleman and Susan E Arnold.
Walt Disney Co. reported Q1 profit that fell substantially short of analysts’ expectations which sent the stock price to a 10% decline in after-hours trading. Putting Disney’s stock price in the $15 territory, a long way from a previous all time stock price high around $43. If the current business is finally starting to turn around and Disney adds games and streaming apps in the future, this could become a growth company once again. For now, investors are believing in the turnaround at Disney and that’s why shares are up big on Thursday.
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According to our valuation model, Walt Disney seems to be fairly priced at around 9.03% above our intrinsic value, which means if you buy Walt Disney today, you’d be paying a relatively reasonable price for it. And if you believe the company’s true value is $98.82, there’s only an insignificant downside when the price falls to its real value. Since Walt Disney’s share price is quite volatile, we could potentially see it sink lower (or rise higher) in the future, giving us another chance to buy. This is based on its high beta, which is a good indicator for how much the stock moves relative to the rest of the market. Income investors who bailed on Disney when it suspended its payout in the early stages of the COVID-19 crisis aren’t coming back because the payouts aren’t coming back.
Disney stock trading began over the counter before its official IPO on the New York Stock Exchange (NYSE) in 1957 with a price of $13.88 per share. Throughout its history, Disney has had six stock splits. In 2015 Disney announced its plans to increase dividend payments and started paying it twice a year instead of annually. 2009 was a tough year for Disney and the market as a whole.
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Walt Disney’s stock is owned by a number of institutional and retail investors. Insiders that own company stock include Amy Chang, Brent Woodford, Christine M Mccarthy, Robert A Chapek, Robert A Iger, Sonia L Coleman and Susan E Arnold. MarketBeat has just released its list of 20 stocks that Wall Street analysts hate.
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Disney stock price broke $50 in 2013, the stock price hit $75 a year later and then finally smashed the $100 ceiling in 2015. Second, for the full fiscal year, management said it expects earnings to increase at least 20% to around $4.60 per share and free-cash-flow generation to be about $8 billion. Even streaming is expected to be profitable in the fourth quarter of the fiscal year (third calendar quarter). The first reason Disney stock is up is quarterly results.
Building for the future
© 2024 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer. Walt Disney declared a semi-annual dividend on Wednesday, February 7th.
Instrument NameWalt Disney CompanyInstrument Symbol(DIS-N)Instrument ExchangeNYSE
Preliminary results on Wednesday revealed shareholders overwhelmingly backed Disney CEO Bob Iger’s ongoing turnaround plan by re-electing all 12 of the company’s current board members. Nelson Peltz’s Trian Partners had proposed Peltz and formed Disney finance chief Jay Rasulo for board seats, while alternative investment manager Blackwells Capital had put forward three candidates. Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services.
In 1996, the company acquired Capital Cities/ABC for $19 billion, which gave the Walt Disney Company the ability to broadcast its entertainment content on the Internet. “We’re eager to focus 100% of our attention instaforex review on our most important priorities, growth and value creation for our shareholders and creative excellence,” Iger said in a statement after the vote. The Motley Fool owns shares of and recommends Walt Disney.
This segment also provides a wide range of licensed and branded themed products based on each of its many franchises. Today, The Walt Disney Company, through a network of subsidiaries, operates as an entertainment company worldwide. The company operates through two segments; Disney Media and Entertainment Distribution and Disney Parks, Experiences, and Products creating long-lasting memories for children of all ages. In total, the company has earned 135 Oscars including 32 beaxy exchange review awarded directly to Walt himself and is said to have created many of the most loved and enduring films of all time as well as revolutionizing the theme park industry. Under the leadership of CEO Michael Eisner in 1984, Disney enjoyed an enormous financial and creative renaissance. The company’s subsidiaries, including Hollywood Pictures, Buena Vista Distribution, Disney Studios and Touchstone Films showed strong performance alongside the growth in Disney consumer products.
Upgrade to MarketBeat All Access to add more stocks to your watchlist. About 90 years after the creation of Walt Disney’s famous Mickey Mouse, the company continues to entertain children and adults around the globe. According to Statista.com, Disney is one of the largest companies in terms of market value and is ranked the fourth most reputable company bitfinex exchange review in the world. The Motley Fool has positions in and recommends Walt Disney. On top of earnings, Disney announced a $1.5 billion investment in Fortnite maker Epic Games and said ESPN will launch a completely rebuilt app over the top in fall 2025. The comments, opinions, and analyses expressed on Investopedia are for informational purposes only.
Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data.