The Walt Disney Company’s (NYSE:DIS) magic might be casting spells in the stock market, as the entertainment behemoth has received an overall rating of “Moderate Buy” from twenty-five research firms, according to Marketbeat. While two analysts have advised holding onto the stock, a remarkable twenty-three suggest it’s time to buy some Disney magic. The updated 12-month target price from these experts sits at a promising $127.08.
In recent notes from analysts, Wells Fargo & Company gave a whimsical boost to their price objective for Disney, from $128.00 to a grand $141.00, with an “overweight” rating as the cherry on top. Meanwhile, Loop Capital had a slightly less magical adjustment, lowering their target from $139.00 to $130.00, still urging investors to buy. Other notable voices include UBS Group and Needham & Company LLC, who continue to support the bullish prospects of Disney, despite recent price adjustments.
Institutional investors are also showing some love for the Mouse House. Vanguard Group Inc. expanded their potion of Disney shares by 1.5% in the first quarter, now holding an impressive 153,769,084 shares—a treasure chest worth $18.8 billion! Other major investors, such as Norges Bank and Bank of New York Mellon Corp, have also taken significant stakes, demonstrating faith in Disney’s long-term prospects. Collectively, institutional investors make up a mighty 65.71% of Disney’s shareholder base.
Despite facing turbulent markets, Disney shares opened at $85.96 this Thursday. With a market cap of $156.71 billion, and sporting a P/E ratio of 93.43, the company’s stock has shown resilience. Disney’s financial magic was clear in their recent earnings report, posted on May 7th, where they beat expectations with a $1.21 earnings per share (EPS) against the anticipated $1.12. The quarter’s revenue was a staggering $22.08 billion, a 1.2% increase from the previous year.
Walt Disney operates through three mesmerizing segments: Entertainment, Sports, and Experiences. Under these umbrellas, the company hosts a dazzling array of brands including ABC, ESPN, Marvel, Lucasfilm, Pixar, and National Geographic. Each segment contributes to the multi-faceted charm that continues to captivate audiences and investors alike.
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Source: Defense World
