The Walt Disney Company (NYSE:DIS) Expected to Post Quarterly Sales of $17.46 Billion

Wall Street analysts expect The Walt Disney Company (NYSE:DIS) to post sales of $17.46 billion for the current quarter, according to Zacks Investment Research. Ten analysts have issued estimates for The Walt Disney’s earnings, with estimates ranging from $16.63 billion to $18.22 billion. The Walt Disney reported sales of $11.78 billion in the same quarter last year, which suggests a positive year over year growth rate of 48.2%. The business is expected to issue its next quarterly earnings results on Tuesday, August 3rd.

According to Zacks, analysts expect that The Walt Disney will report full year sales of $68.97 billion for the current financial year, with estimates ranging from $64.35 billion to $72.78 billion. For the next year, analysts forecast that the business will post sales of $86.51 billion, with estimates ranging from $79.38 billion to $93.44 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for The Walt Disney.

The Walt Disney (NYSE:DIS) last released its earnings results on Thursday, May 13th. The entertainment giant reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.52. The company had revenue of $15.61 billion for the quarter, compared to the consensus estimate of $15.99 billion. The Walt Disney had a negative net margin of 4.38% and a positive return on equity of 4.05%. The Walt Disney’s revenue was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 EPS.

DIS has been the topic of several recent research reports. Truist upped their price objective on shares of The Walt Disney from $195.00 to $205.00 and gave the company a “buy” rating in a report on Friday, April 16th. Wells Fargo & Company upped their price objective on shares of The Walt Disney from $201.00 to $219.00 and gave the company an “overweight” rating in a report on Monday, April 26th. Zacks Investment Research raised shares of The Walt Disney from a “sell” rating to a “hold” rating and set a $193.00 price objective on the stock in a report on Monday, February 22nd. KeyCorp increased their price target on shares of The Walt Disney from $182.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, February 12th. Finally, Citigroup increased their price target on shares of The Walt Disney from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, March 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $192.66.

DIS stock opened at $173.70 on Friday. The firm’s fifty day simple moving average is $185.40 and its 200-day simple moving average is $173.28. The company has a market capitalization of $315.31 billion, a P/E ratio of -109.24, a price-to-earnings-growth ratio of 5.07 and a beta of 1.20. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.32 and a quick ratio of 1.26. The Walt Disney has a 12 month low of $104.27 and a 12 month high of $203.02.

In other news, Chairman Robert A. Iger sold 220,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 23rd. The shares were sold at an average price of $195.39, for a total value of $42,985,800.00. Following the transaction, the chairman now directly owns 1,397,989 shares in the company, valued at approximately $273,153,070.71. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mary Jayne Parker sold 7,436 shares of the stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $185.60, for a total transaction of $1,380,121.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 382,351 shares of company stock valued at $74,874,701. 0.31% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in DIS. Flagship Private Wealth LLC purchased a new stake in The Walt Disney in the fourth quarter valued at approximately $27,000. Inspire Advisors LLC purchased a new stake in The Walt Disney in the fourth quarter valued at approximately $27,000. Kinloch Capital LLC purchased a new stake in The Walt Disney in the fourth quarter valued at approximately $28,000. Advanced Research Investment Solutions LLC raised its position in The Walt Disney by 50.9% in the fourth quarter. Advanced Research Investment Solutions LLC now owns 163 shares of the entertainment giant’s stock valued at $30,000 after purchasing an additional 55 shares during the period. Finally, Klaas Financial Asset Advisors LLC purchased a new stake in The Walt Disney in the fourth quarter valued at approximately $33,000. 62.83% of the stock is currently owned by institutional investors.

About The Walt Disney

The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company's Media Networks segment operates domestic cable networks under the Disney, ESPN, Freeform, FX, and National Geographic brands; and television broadcast network under the ABC brand, as well as eight domestic television stations.

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Earnings History and Estimates for The Walt Disney (NYSE:DIS)

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