Walt Disney Company (DIS) is set to release its third-quarter earnings before the market opens on Wednesday, August 6th, and Wall Street analysts are revising their predictions. The expectation is for earnings of $1.44 per share, slightly up from $1.39 in the same quarter last year, and revenue projected at $23.76 billion, compared to $23.16 billion a year prior. This follows a trend of Disney exceeding revenue expectations in four consecutive quarters and six out of the last ten.
Disney’s stock closed down 0.9% on Tuesday at $118.32, ahead of the earnings announcement. The upcoming report will likely be a key factor in influencing the stock’s near-term trajectory. Several top Wall Street analysts have recently adjusted their price targets for Disney stock, offering valuable insights for potential investors.
Among the notable revisions, Evercore ISI Group’s Vijay Jayant (67% accuracy rate) maintained an Outperform rating and increased the price target from $134 to $140. Morgan Stanley’s Benjamin Swinburne (76% accuracy rate) also maintained an Overweight rating, raising the price target from $120 to $140. Similarly, JP Morgan’s Philip Cusick (62% accuracy rate) kept an Overweight rating and lifted the price target from $130 to $138. UBS’s John Hodulik (76% accuracy rate) and Citigroup’s Jason Bazinet (74% accuracy rate) both maintained Buy ratings, increasing their price targets to $138 and $140 respectively.
These upward revisions suggest a positive outlook from these leading analysts. Their varied accuracy rates highlight the importance of considering multiple perspectives when making investment decisions. These revisions, along with Disney’s recent track record of exceeding revenue expectations, present a complex picture for investors considering a position in DIS. It will be crucial to closely examine the details of the Q3 earnings report before making any investment decisions.
While these analyst predictions offer guidance, it’s vital to remember that past performance is not indicative of future results. Thorough due diligence and consideration of your own risk tolerance are essential before investing in any stock. The upcoming earnings call and subsequent market reaction will undoubtedly provide further clarity on the future prospects of Walt Disney Company.
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