Walt Disney Company (The) (NYSE:DIS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “Disney shares have underperformed the industry in the past three months, primarily due to ongoing concerns regarding ESPN future. Identical to performances in the past few quarters, ESPN disappointed in the third quarter again. Further, the stock came under pressure after the company reported mixed third-quarter fiscal 2017 results, wherein earnings came in above the Zacks Consensus Estimate but revenues lagged the same for the fourth straight quarter. However, the company’s decision to terminate distribution agreement with Netflix for subscription streaming and having its own streaming services – one for Disney and Pixar brands and another for ESPN followers is likely to be driving factor in the long run. Further, in an effort to attract online viewers, Disney which had earlier acquired 33% stake BAMTech announced its intention to acquire another 42% stake in the firm. Moreover, movie and its Parks & Resorts business bode well.”

A number of other equities analysts also recently weighed in on the stock. Goldman Sachs Group, Inc. (The) set a $134.00 price target on shares of Walt Disney Company (The) and gave the stock a “buy” rating in a research note on Saturday, May 20th. Macquarie downgraded shares of Walt Disney Company (The) from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $90.32 to $105.00 in a research note on Wednesday, May 17th. Deutsche Bank AG reaffirmed a “buy” rating and set a $125.00 price target (down previously from $130.00) on shares of Walt Disney Company (The) in a research note on Monday, May 15th. Rosenblatt Securities increased their price target on shares of Walt Disney Company (The) from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday, May 8th. Finally, Guggenheim reaffirmed a “buy” rating and set a $122.00 price target (down previously from $128.00) on shares of Walt Disney Company (The) in a research note on Wednesday, July 12th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and seventeen have assigned a buy rating to the stock. Walt Disney Company (The) presently has an average rating of “Hold” and a consensus price target of $115.22.

Shares of Walt Disney Company (NYSE DIS) opened at 101.35 on Friday. The firm has a 50-day moving average price of $106.14 and a 200-day moving average price of $109.28. Walt Disney Company has a 12 month low of $90.32 and a 12 month high of $116.10. The stock has a market cap of $158.31 billion, a price-to-earnings ratio of 17.98 and a beta of 1.40.

Walt Disney Company (The) (NYSE:DIS) last posted its quarterly earnings results on Tuesday, August 8th. The entertainment giant reported $1.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.05. The company had revenue of $14.24 billion for the quarter, compared to the consensus estimate of $14.44 billion. Walt Disney Company (The) had a net margin of 16.22% and a return on equity of 19.69%. Walt Disney Company (The)’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 earnings per share. Equities analysts expect that Walt Disney Company will post $5.90 EPS for the current fiscal year.

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In related news, Chairman Robert A. Iger sold 797,578 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $105.09, for a total value of $83,817,472.02. Following the sale, the chairman now directly owns 1,566,484 shares in the company, valued at approximately $164,621,803.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. BT Investment Management Ltd acquired a new stake in Walt Disney Company (The) during the second quarter worth approximately $3,512,000. Folger Nolan Fleming Douglas Capital Management Inc. increased its position in Walt Disney Company (The) by 1.6% in the second quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 56,397 shares of the entertainment giant’s stock valued at $5,993,000 after buying an additional 884 shares during the period. Destination Wealth Management increased its position in Walt Disney Company (The) by 2.0% in the second quarter. Destination Wealth Management now owns 189,364 shares of the entertainment giant’s stock valued at $20,120,000 after buying an additional 3,695 shares during the period. Amalgamated Bank increased its position in Walt Disney Company (The) by 49.8% in the second quarter. Amalgamated Bank now owns 180,632 shares of the entertainment giant’s stock valued at $19,192,000 after buying an additional 60,088 shares during the period. Finally, Edmond DE Rothschild Holding S.A. increased its position in Walt Disney Company (The) by 309.6% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 83,701 shares of the entertainment giant’s stock valued at $8,894,000 after buying an additional 63,267 shares during the period. Institutional investors and hedge funds own 62.42% of the company’s stock.

About Walt Disney Company (The)

The Walt Disney Company is an entertainment company. The Company operates in four business segments: Media Networks, Parks and Resorts, Studio Entertainment, and Consumer Products & Interactive Media. The media networks segment includes cable and broadcast television networks, television production and distribution operations, domestic television stations, and radio networks and stations.

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Analyst Recommendations for Walt Disney Company (The) (NYSE:DIS)

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