Revenue for the third quarter ended June 27, while up 5.1% to $13.1 billion, missed analysts’ forecasts of $13.2 billion.
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The company’s overall net income climbed to $2.48 billion, or $1.45 per share, from $2.25 billion, or $1.28 per share.
Officials at The Walt Disney Co. on Tuesday, during a conference call with shareholders, said the excitement of the original theme park’s diamond celebration, mixed in with the debut of three new shows, led to the influx in attendance and spending.
One trader is placing a big bet that Walt Disney, the best performing stock in the Dow Jones industrial average this year, will see some pain when it reports earnings after the bell Tuesday.
The Burbank, California-based company said it had profit of $1.45 per share.
The target increase is well-received by investors, as NYSE:DIS is at the moment trading 0.93% higher at $121.11 as of 07:44 New York time. Higher on-demand distribution and affiliate revenues at Disney Channels and ABC Family drove cable networks’ operating income 7% higher to $2.1 billion. RBC Capital boosted their price objective on shares of Walt Disney from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday. The United Kingdom-based fund Ibis Capital Partners Llp is also positive about the stock, possessing 2.22 million shares or 8.91% of their equity exposure. On average, equities research analysts expect that Walt Disney will post $5.05 earnings per share for the current fiscal year. July 13th. Eight analysts have rated the stock with a hold rating and twentythree have assigned a buy rating to the company. Stifel Nicolaus reiterated a “buy” rating and issued a $120.00 price target on shares of Walt Disney in a research note on Monday, July 13th. 12,624,387 shares of the company traded hands. The Walt Disney Studio brings music, pictures and stage plays to consumers across the whole world. Media Networks include a range of businesses that are digital, cable, radio, broadcast and releasing across two departments – the Disney/ABC Television Group and ESPN Inc.
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Consumer Products increased its revenues by 6% to $954 million, with a 27% increase in operating income to $348 million.
