Walt Disney Receives “Top Pick” Rating from Ascendiant Capital Markets (DIS)
Walt Disney (NYSE:DIS)‘s stock had its “top pick” rating reiterated by research analysts at Ascendiant Capital Markets in a report released on Friday, AnalystRatings.Net reports. They currently have a $90.00 price objective on the stock, up from their previous price objective of $86.00. Ascendiant Capital Markets’ target price would indicate a potential upside of 18.00% from the company’s current price.
The analysts wrote, “While always a leader in maximizing the cash-earnings generating utilization of its creative output in multiple platforms, Disney is accelerating that growth with the addition of LucasFilms and further enhancements to the Marvel portfolio of characters and products,” the report said. The report further asserted that EPS growth prospects are healthy going into FY2014 and should accelerate even more in late FY2015E and FY2016E with the opening of Shanghai Disney parks and the release of Marvel and Star Wars films. “Share repurchases will compliment organic growth,” the report said. “The $4 billion in annual repurchases expected in FY2014 should be accretive to EPS around current prices.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Guggenheim upgraded shares of Walt Disney from a “neutral” rating to a “buy” rating in a research note to investors on Monday. They now have a $87.00 price target on the stock, up previously from $77.00. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Walt Disney in a research note to investors on Friday, December 27th. Finally, analysts at Sanford C. Bernstein raised their price target on shares of Walt Disney from $75.00 to $82.00 in a research note to investors on Monday, December 16th. Thirteen investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Walt Disney presently has an average rating of “Buy” and a consensus target price of $74.44.
Walt Disney (NYSE:DIS) traded down 0.22% during mid-day trading on Friday, hitting $76.105. 2,427,043 shares of the company’s stock traded hands. Walt Disney has a 52 week low of $50.18 and a 52 week high of $76.54. The stock has a 50-day moving average of $71.48 and a 200-day moving average of $66.51. The company has a market cap of $133.7 billion and a P/E ratio of 22.57.
Walt Disney (NYSE:DIS) last released its earnings data on Thursday, November 7th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The company had revenue of $11.57 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis.
The company also recently declared a annual dividend, which is scheduled for Thursday, January 16th. Stockholders of record on Monday, December 16th will be given a dividend of 0.86 per share. This represents a yield of 1.22%. The ex-dividend date of this dividend is Thursday, December 12th. This is a boost from Walt Disney’s previous annual dividend of $0.75.
The Walt Disney Company, together with its subsidiaries, is a diversified worldwide entertainment company.
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