Walt Disney Co (DIS)

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Earnings Previews: Disney...
By: 24/7 Wall St. | August 11, 2021

Disney

One of the Dow Jones industrial average components, Walt Disney Co. (NYSE: DIS) has delivered a share price increase of about 38% over the past 12 months. In 2020, Disney managed to add about 25% to its share price, despite the closure of most of its parks and resorts due to COVID-19. The company’s hugely successful streaming service gets the credit, a function of both its low price and the fact that most school-aged children were home for most of the year.

Analysts remain bullish on the stock, with 22 of 27 assigning Buy or Strong Buy ratings and another four giving the shares a Hold rating. At a price of around $177.80, the stock’s implied upside based on a median price target of $212 is 19%. At the high target of $230, the implied upside is more than 29%.

Fiscal third-quarter revenue is forecast to rise sequentially by about 7.4% to $16.76 billion. The total represents a boost of 42% year over year. Adjusted EPS is forecast at $0.55, down more than 30% sequentially, but up almost sevenfold compared with EPS of $0.08 in the year-ago quarter. For the full fiscal year, analysts expect EPS to rise nearly 18% to $2.38 on a revenue increase of 3.4% to $67.61 billion.

Disney shares trade at 74.3 times expected 2021 EPS, 35.2 times estimated 2022 earnings and 27.4 times estimated 2023 earnings. The stock’s 52-week range is $117.23 to $203.02. Disney has suspended its dividend payments.

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