Walt Disney Co (DIS)

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Earnings Preview: Walt Disney Co. (NYSE: DIS)
By: 24/7 Wall St. | August 8, 2023

• Here is a look at what analysts expect to hear from three companies reporting quarterly earnings late Wednesday or Thursday morning.

Disney

Over the past 12 months, Walt Disney Co. (NYSE: DIS) has seen its share price decline by more than 18%. Since Disney brought back CEO Rober Iger in mid-November, the stock price has fallen by nearly 11%. The stock jumped 34% in January but has been mostly sinking ever since. Iger has blamed disruption in the traditional TV business, which he says he underestimated, and a couple of box-office bombs. ESPN could be in for some ownership changes, Hulu will remain and ABC may go. Iger had better decide soon.

Analysts remain bullish on the stock. Of 31 brokerages covering the firm, 21 have a Buy or Strong Buy rating, while eight more rate it at Hold. At a share price of around $86.80, the upside potential based on a median price target of $114.50 is about 31.9%. At the high target of $147.00, the upside potential is 69.4%.

Third-quarter fiscal 2023 revenue is forecast at $22.54 billion, which would be up 3.3% sequentially and by 4.7% year over year. Adjusted EPS are pegged at $0.99, up 6.9% sequentially but down 9.2% year over year. For the fiscal year ending in September, analysts expect Disney to report EPS of $3.73, up 5.7%, on sales of $89.41 billion, up 8.1%.

Disney stock trades at 23.3 times expected 2023 earnings, 17.5 times estimated 2024 earnings of $4.97 per share and 14.6 times estimated 2025 earnings of $5.93 per share. The 52-week trading range is $84.07 to $126.48. Disney does not pay a dividend, and the total shareholder return for the past year was negative 18.57%.

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