Disney shares are down 5% year-to-date, moving against broader market gains as Wall Street reacted sourly to a slip in subscribers for the firm's paid Disney+ streaming service, which lost $512 million last quarter.
In the first nine months of fiscal 2023 (ending in September), Disney's adjusted earnings per share declined by 9% year over year, pressured by lower enterprise ad spending and losses in its streaming business.
These include a declining linear-TV business, a complicated shift toward streaming, an underperforming studios unit and a comedown for the parks business as the initial period of postpandemic exuberance wanes. Disney's troubles in linear television and streaming go hand in hand.
Disney still relies on old-line channels like ESPN and ABC for roughly a third of its operating profits — and those outlets are being maimed by cord cutting, sports programming costs and advertiser pullback.
Disney stock has been in a steady downtrend this year as it contends with bulging content costs, while theme park traffic is bouncing back from pandemic shutdowns. Disney stock has so far faded 2.6% in 2023 through Wednesday's close.
Revenue and earnings growth should essentially clock in flat for all of fiscal 2023. The year ahead should be different. Analysts see revenue and earnings per share rising 5% and 32%, respectively. Disney is trading for a reasonable 17 times forward earnings.
According to 19 stock analysts, the average 12-month stock price forecast for DIS stock stock is $110.53, which predicts an increase of 16.11%. The lowest target is $76 and the highest is $136. On average, analysts rate DIS stock stock as a buy.
Disney World's crowds are getting smaller, signaling that the high entry costs to the theme park as well as competition from other destinations may be taking a toll on attendance, Wall Street Journal reporter Jacob Passy told CBS News.
In fact, Disney has underperformed the market over any time frame over the last 10 years, and it's no secret why. The company has struggled with the transition from linear TV to streaming, which was hastened by the pandemic.
Walt Disney has a conensus rating of Moderate Buy which is based on 18 buy ratings, 6 hold ratings and 1 sell ratings. The average price target for Walt Disney is $106.52. This is based on 25 Wall Streets Analysts 12-month price targets, issued in the past 3 months.
The Walt Disney Company Reports Third Quarter and Nine Months Earnings for Fiscal 2023. BURBANK, Calif. —The Walt Disney Company (NYSE: DIS) today reported earnings for its third quarter and nine months ended July 1, 2023. Revenues for the quarter and nine months grew 4% and 8%, respectively.
BURBANK, Calif. –The Walt Disney Company (NYSE: DIS) today reported earnings for its fourth quarter and full year ended September 30, 2023. Financial Results for the Quarter and Full Year: Revenues for the quarter and year grew 5% and 7% compared to the prior-year quarter and prior year, respectively.
A big problem for Disney is that its streaming service, Disney+, is a money pit. It costs money to produce content and compete against streaming rivals like Netflix. And at the same time, prices aren't high enough for the business to be profitable.
Disney's stock is underperforming again in 2023, and investors may wonder if there's any hope that Disney can right the ship in 2024 and beyond. Wall Street analysts remain confident Disney has better days ahead.
Nov 28 (Reuters) - Walt Disney (DIS.N) CEO Bob Iger told employees he faced a "myriad of challenges" upon returning to the company but he remained upbeat about its prospects.
Warren Buffett's position in Walt Disney Co (The) is currently worth $30.3 Million. That's 0.01% of their equity portfolio (35th largest holding). The first Walt Disney Co (The) trade was made in Q4 1998. Since then Warren Buffett bought shares three more times and sold shares on three occasions.
Total debt on the balance sheet as of September 2023 : $46.43 B. According to Walt Disney's latest financial reports the company's total debt is $46.43 B. A company's total debt is the sum of all current and non-current debts.
Even though the copyright for an old version of Mickey might be expiring soon, Disney does not have to worry about losing Mickey in its entirety. As long as Disney continues to tweak Mickey Mouse, it can get new copyrights and endlessly renew trademarks. So Mickey is here to stay!
According to US copyright law, the rights for a character expire 95 years after the publication of the original work. Disney will lose the Mickey Mouse copyright for Steamboat Willie in 2024, since the short animated film was produced and distributed in 1928.
According to InsideTheMagic.com, “Disney's attendance has dropped substantially,” with some attendees reporting impacts at Disneyland and other parks, with Disney World appearing more like a “ghost town” than a thriving tourist destination.
According to a Wednesday filing, the theme parks segment had more than $24 billion in overall revenue for the first nine months ended July 1. That's 17% higher than the first nine months of 2022. Theme park admissions alone accounted for nearly $8 billion of 2023′s nine-month total, up 21% from the same period in 2022.
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With its 4-star rating, we believe Disney's stock is undervalued compared with our long-term fair value estimate. Our updated $145 fair value estimate for Disney (lowered from $155 in May) reflects slower subscriber growth and lower losses from streaming.
