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Walt disney, a family entertainment company, is expected to post fourth quarter tax profit of $ 0.44 per share, representing year-over-year growth of over 320% compared to a loss of -0, $ 20 per share registered in the same period a year ago.
The family entertainment company is reportedly posting revenue growth of 28% to $ 18.8 billion. The company has beaten earnings per share (EPS) estimates every time over the past four quarters, according to ZACKS Research.
As of July, Disney + and Hotstar had over 116 million subscribers, while Hulu and ESPN + combined had over 57 million subscribers. Barclays analysts cite slower growth and the fact that Disney + is producing far less new content than Netflix, as reasons for their skepticism. Disney + claims to have 250 million subscribers by 2024, Fobes reported
At the time of writing, Walt disney stocks, which have plunged more than 3% so far this year, traded up 2.67% to $ 174.83 on Friday.
Analyst comments
“We see Disney on the short list of global streaming majors. Despite large upward earnings revisions, stocks lagged as expectations of net additions exceeded content shipments. As the content pipeline expands into 22 and 23, core net additions are expected to accelerate, pulling stocks, â€noted Benjamin Swinburne, equity analyst at Morgan Stanley.
“Disney creates content assets that allow it to take advantage of the important streaming opportunity directly to future consumers. Disney’s underlying IP remains best-in-class, supporting long-term content monetization opportunities. During this period of FCF pressure due to fleet closures, the FCF generation of ESPN is essential to reduce leverage. Historical cycles suggest a potential return above record revenues for US parks in fiscal year 23. ”
Walt Disney Share Price Forecast
Nineteen analysts who offered stock market ratings for Walt disney Over the past three months, the 12-month average price was $ 215.06 with a high forecast of $ 263.00 and a low forecast of $ 175.00.
The target average price represents a change of 22.79% from the last price of $ 175.15. Of those 19 analysts, 15 analysts rated “Buyâ€, four rated “Hold†while none rated “Sellâ€, according to Tipranks.
Morgan Stanley gave the base target price of $ 210 with a high of $ 250 in a bullish scenario and $ 135 in a worst-case scenario. The company has assigned a rating of “overweight” to shares in the family entertainment company.
Several other analysts have also updated their stock market outlook. Barclays reduced the target price from $ 210 to $ 175. Guggenheim reduced the target price from $ 215 to $ 205. JPMorgan raised the target price from $ 220 to $ 230.
Technical analysis suggests that it’s good to sell now as a 100-day moving average, and the 100-200-day MACD oscillator signals a strong sell opportunity.
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