Disney Set to Deliver Key Earnings Report This Thursday DIS
Anticipation Builds for Fourth-Quarter Results: The Walt Disney Co will announce its fourth-quarter earnings on Thursday morning. Wall Street analysts predict earnings per share (EPS) of $1.10 alongside revenues of $22.35 billion.
Disney’s stock has increased by 12.91% over the past year and 11.33% since the start of 2023. Although it has performed better than competitors Warner Bros Discovery Inc WBD and Paramount Global PARA, Disney still lags behind Netflix Inc’s NFLX remarkable 65% year-to-date increase.
This earnings report holds significant importance as analysts closely monitor Disney’s advancements in the streaming space, particularly since the division reported profitability last quarter. Key focuses will include the growth of Disney+, updates on traditional TV operations and theme parks, as well as insights into CEO Bob Iger‘s successor search.
Investors are especially eager to learn whether Disney+ can sustain its recent profitability.
Examining Disney’s Stock Performance Ahead of Earnings
Positive Momentum for Disney Stock: Disney’s stock is currently displaying strong upward momentum, with its price at $100.99, surpassing the five, 20, and 50-day exponential moving averages. This trend indicates robust buying interest amongst investors.
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Recent gains have placed the stock comfortably above its eight-day simple moving average (SMA) of $98.37 and 20-day SMA of $97.06, signaling short-term optimism. Meanwhile, the 50-day SMA, currently at $94.34, indicates ongoing bullish sentiment.
Despite this upward trend, the stock is hovering just below its 200-day SMA of $101.31, which may serve as a resistance point going forward.
The moving average convergence/divergence (MACD) reading of 1.52 further reinforces this positive outlook, even as the relative strength index (RSI) stands at 72.07, suggesting that the stock is approaching overbought conditions.
While profit-takers may emerge, the prevailing trend appears positive.
Analyst Ratings and Expectations: Analysts currently hold a consensus rating of “Buy” for Disney stock, with a price target averaging $117.44. Notable ratings from Evercore ISI Group, Needham, and Piper Sandler indicate a further price target of $111, projecting a potential upside of 9.96%.
Current Stock Performance: On Tuesday, Disney stock closed at $100.99, marking a slight increase of 0.13%.
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