Zacks Investment Research lowered shares of Walt Disney Company (The) (NYSE:DIS) from a hold rating to a sell rating in a research note released on Tuesday.

According to Zacks, “Disney shares have lagged the industry in the past three months, primarily due to ongoing concerns regarding ESPN future and recent havoc at its Lucasfilm division due to the delay in the release of Star Wars: Episode IX. Identical to performances in the past few quarters, ESPN disappointed in the third quarter again. Further, the stock recently came under pressure after CEO cautioned that fiscal 2017 earnings are likely to be similar to last year. However, the company’s decision to terminate distribution agreement with Netflix for subscription streaming and having its own streaming services – one for Disney and Pixar brands and another for ESPN followers is likely to be a driving factor in the long run. Further, in an effort to attract online viewers, Disney, which had earlier acquired 33% stake BAMTech, announced its intention to acquire another 42% stake in the firm. However, Parks & Resorts business continues to bode well.”

DIS has been the topic of a number of other research reports. BidaskClub upgraded Walt Disney Company (The) from a sell rating to a hold rating in a research report on Monday, July 24th. Piper Jaffray Companies set a $130.00 price objective on Walt Disney Company (The) and gave the company a buy rating in a research report on Tuesday, August 22nd. Loop Capital restated a hold rating and issued a $104.00 price objective (down from $106.00) on shares of Walt Disney Company (The) in a research report on Friday, September 8th. Royal Bank Of Canada set a $130.00 target price on Walt Disney Company (The) and gave the stock a buy rating in a research note on Monday, June 12th. Finally, UBS AG reaffirmed a buy rating and set a $126.00 target price on shares of Walt Disney Company (The) in a research note on Tuesday, September 5th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $113.52.

Shares of Walt Disney Company (NYSE:DIS) traded down 0.40% during midday trading on Tuesday, reaching $100.39. 2,402,439 shares of the company’s stock were exchanged. The company’s 50-day moving average is $100.04 and its 200-day moving average is $106.56. Walt Disney Company has a one year low of $90.32 and a one year high of $116.10. The stock has a market cap of $154.95 billion, a P/E ratio of 17.81 and a beta of 1.40.

Walt Disney Company (The) (NYSE:DIS) last posted its earnings results on Tuesday, August 8th. The entertainment giant reported $1.58 EPS for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.05. Walt Disney Company (The) had a return on equity of 19.69% and a net margin of 16.22%. The firm had revenue of $14.24 billion for the quarter, compared to analysts’ expectations of $14.44 billion. During the same period last year, the firm earned $1.62 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. Equities analysts expect that Walt Disney Company will post $5.81 earnings per share for the current fiscal year.

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In related news, Director Maria Elena Lagomasino bought 976 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average cost of $102.34 per share, with a total value of $99,883.84. Following the purchase, the director now directly owns 7,513 shares of the company’s stock, valued at approximately $768,880.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 13.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC grew its position in shares of Walt Disney Company (The) by 929.6% during the second quarter. Janus Henderson Group PLC now owns 5,410,942 shares of the entertainment giant’s stock worth $574,907,000 after buying an additional 4,885,398 shares in the last quarter. AJO LP increased its stake in shares of Walt Disney Company (The) by 12,331.6% during the second quarter. AJO LP now owns 3,300,335 shares of the entertainment giant’s stock worth $350,661,000 after buying an additional 3,273,787 shares during the period. Vanguard Group Inc. increased its stake in shares of Walt Disney Company (The) by 2.2% during the second quarter. Vanguard Group Inc. now owns 98,803,049 shares of the entertainment giant’s stock worth $10,497,824,000 after buying an additional 2,131,932 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Walt Disney Company (The) by 247.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,644,700 shares of the entertainment giant’s stock worth $280,999,000 after buying an additional 1,884,600 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of Walt Disney Company (The) by 48.7% during the second quarter. Nordea Investment Management AB now owns 5,313,513 shares of the entertainment giant’s stock worth $564,561,000 after buying an additional 1,740,128 shares during the period. 61.38% of the stock is currently owned by institutional investors.

Walt Disney Company (The) Company Profile

The Walt Disney Company is an entertainment company. The Company operates in four business segments: Media Networks, Parks and Resorts, Studio Entertainment, and Consumer Products & Interactive Media. The media networks segment includes cable and broadcast television networks, television production and distribution operations, domestic television stations, and radio networks and stations.

Analyst Recommendations for Walt Disney Company (The) (NYSE:DIS)

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