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Why Walt Disney (DIS) Outpaced the Stock Market Today
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Walt Disney (DIS - Free Report) closed the most recent trading day at $80.68, moving +1.7% from the previous trading session. This change outpaced the S&P 500's 1.2% gain on the day. Elsewhere, the Dow gained 1.58%, while the tech-heavy Nasdaq added 1.16%.
The entertainment company's stock has dropped by 2.12% in the past month, exceeding the Consumer Discretionary sector's loss of 3.82% and the S&P 500's loss of 3.58%.
The investment community will be closely monitoring the performance of Walt Disney in its forthcoming earnings report. The company is scheduled to release its earnings on November 8, 2023. The company's earnings per share (EPS) are projected to be $0.70, reflecting a 133.33% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $21.33 billion, up 5.87% from the prior-year quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Walt Disney. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.78% lower. Walt Disney presently features a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Walt Disney is holding a Forward P/E ratio of 16.25. For comparison, its industry has an average Forward P/E of 26.24, which means Walt Disney is trading at a discount to the group.
We can additionally observe that DIS currently boasts a PEG ratio of 1.2. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Media Conglomerates industry stood at 1.48 at the close of the market yesterday.
The Media Conglomerates industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 237, this industry ranks in the bottom 6% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Why Walt Disney (DIS) Outpaced the Stock Market Today
Walt Disney (DIS - Free Report) closed the most recent trading day at $80.68, moving +1.7% from the previous trading session. This change outpaced the S&P 500's 1.2% gain on the day. Elsewhere, the Dow gained 1.58%, while the tech-heavy Nasdaq added 1.16%.
The entertainment company's stock has dropped by 2.12% in the past month, exceeding the Consumer Discretionary sector's loss of 3.82% and the S&P 500's loss of 3.58%.
The investment community will be closely monitoring the performance of Walt Disney in its forthcoming earnings report. The company is scheduled to release its earnings on November 8, 2023. The company's earnings per share (EPS) are projected to be $0.70, reflecting a 133.33% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $21.33 billion, up 5.87% from the prior-year quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Walt Disney. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.78% lower. Walt Disney presently features a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Walt Disney is holding a Forward P/E ratio of 16.25. For comparison, its industry has an average Forward P/E of 26.24, which means Walt Disney is trading at a discount to the group.
We can additionally observe that DIS currently boasts a PEG ratio of 1.2. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Media Conglomerates industry stood at 1.48 at the close of the market yesterday.
The Media Conglomerates industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 237, this industry ranks in the bottom 6% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.