Walt Disney (DIS) shares showed resilience in the latest trading session, closing at $93.97, marking a notable 1.98% increase from the prior day’s close. This uptick is particularly refreshing as it contrasts with the broader market trends where the S&P 500 declined by 0.5% and the Nasdaq dipped by 1.28%. The Dow, however, managed to inch up by 0.5%.
Despite this recent rise, Disney’s stock has seen a downturn of 6.02% over the past month. This performance lagged behind the Consumer Discretionary sector, which only experienced a slight loss of 0.46%, and the S&P 500’s minor gain of 0.1%.
Investors are eagerly awaiting Disney’s upcoming earnings report, set for release on August 7, 2024. Analysts project an EPS of $1.19, which would be a 15.53% increase compared to the same quarter last year. Revenue is anticipated to reach $22.86 billion, a 2.37% rise year-over-year. For the full year, the Zacks Consensus Estimates forecast earnings at $4.75 per share on $91.03 billion in revenue, reflecting increases of 26.33% and 2.4% respectively.
It’s important to keep an eye on any changes in analyst estimates for Disney, as these often signal a shift in near-term business trends. The Zacks Rank, which takes these revisions into account, currently rates Disney as a #3 (Hold). The Zacks Rank system has a strong track record, consistently identifying highly-performing stocks.
From a valuation standpoint, Disney’s Forward P/E ratio stands at 19.39, higher than the industry average of 17.41, indicating a premium valuation. Disney’s PEG ratio of 1.15, however, is favorable compared to the industry’s average PEG of 1.94, highlighting anticipated growth.
As we continue to monitor Disney and its industry landscape, it’s crucial to consider these metrics and their implications on the company’s stock performance. Share your thoughts in the comments below, and let’s discuss where you think Disney’s stock is headed!
Source: Zacks Equity Research
