Walt Disney (NYSE:DIS) Trading 0.7% Higher Following Earnings Beat

The Walt Disney Company (NYSE:DIS)’s share price shot up 0.7% on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $106.48 and last traded at $106.11. 5,215,782 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 11,981,943 shares. The stock had previously closed at $105.39.

The entertainment giant reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. The firm had revenue of $22.08 billion during the quarter, compared to the consensus estimate of $22.12 billion. Walt Disney had a net margin of 3.36% and a return on equity of 7.88%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.93 earnings per share.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Rosenblatt Securities upped their price objective on shares of Walt Disney from $129.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. started coverage on Walt Disney in a research note on Thursday, April 11th. They set an “overweight” rating and a $140.00 price objective for the company. Guggenheim raised their price target on Walt Disney from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Morgan Stanley upped their price target on shares of Walt Disney from $110.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Finally, Loop Capital lifted their target price on shares of Walt Disney from $113.00 to $140.00 and gave the stock a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, Walt Disney currently has an average rating of “Moderate Buy” and a consensus target price of $126.75.

Insider Buying and Selling at Walt Disney

In other news, EVP Sonia L. Coleman sold 1,857 shares of Walt Disney stock in a transaction on Monday, April 1st. The shares were sold at an average price of $121.92, for a total transaction of $226,405.44. Following the transaction, the executive vice president now owns 4,400 shares in the company, valued at approximately $536,448. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Avitas Wealth Management LLC lifted its position in shares of Walt Disney by 2.2% in the fourth quarter. Avitas Wealth Management LLC now owns 11,037 shares of the entertainment giant’s stock valued at $997,000 after acquiring an additional 238 shares in the last quarter. WNY Asset Management LLC boosted its stake in Walt Disney by 32.8% in the 3rd quarter. WNY Asset Management LLC now owns 9,321 shares of the entertainment giant’s stock worth $756,000 after purchasing an additional 2,304 shares during the period. Pathway Financial Advisors LLC raised its position in shares of Walt Disney by 4.9% during the third quarter. Pathway Financial Advisors LLC now owns 3,024 shares of the entertainment giant’s stock valued at $245,000 after buying an additional 141 shares during the last quarter. Telos Capital Management Inc. lifted its holdings in shares of Walt Disney by 1.7% in the fourth quarter. Telos Capital Management Inc. now owns 74,767 shares of the entertainment giant’s stock worth $6,751,000 after buying an additional 1,236 shares in the last quarter. Finally, Tempus Wealth Planning LLC boosted its position in shares of Walt Disney by 4.5% during the third quarter. Tempus Wealth Planning LLC now owns 12,722 shares of the entertainment giant’s stock worth $1,031,000 after acquiring an additional 546 shares during the last quarter. Institutional investors own 65.71% of the company’s stock.

Walt Disney Stock Up 0.8 %

The company has a market capitalization of $194.84 billion, a PE ratio of 65.50, a PEG ratio of 1.39 and a beta of 1.40. The company has a quick ratio of 0.77, a current ratio of 0.84 and a debt-to-equity ratio of 0.39. The company’s 50 day moving average is $114.59 and its two-hundred day moving average is $101.21.

Walt Disney Company Profile

The Walt Disney Company operates as an entertainment company worldwide. It operates through three segments: Entertainment, Sports, and Experiences. The company produces and distributes film and television video streaming content under the ABC Television Network, Disney, Freeform, FX, Fox, National Geographic, and Star brand television channels, as well as ABC television stations and A+E television networks; and produces original content under the ABC Signature, Disney Branded Television, FX Productions, Lucasfilm, Marvel, National Geographic Studios, Pixar, Searchlight Pictures, Twentieth Century Studios, 20th Television, and Walt Disney Pictures banners.