Stock Market News

Walt Disney numbers raised on ‘Inside Out 2’ strength

2024.07.03 08:10

Walt Disney numbers raised on 'Inside Out 2' strength

Guggenheim analysts tweaked their Walt Disney (NYSE:) model, reflecting a slightly more cautious outlook for the company’s Experiences segment (parks, cruises, etc.) in a note Wednesday.

The firm revised its F3Q Experiences revenue growth forecast down to 6.2% from 8.2% but still anticipates improvement to 6.7% in F4Q.

Despite the revision, Guggenheim expects F3Q adjusted segment operating income to remain in line with management’s mid-to-high-single-digit growth guidance.

“Our F4Q Experiences adjusted segment OI growth of 9.0% is modestly below management’s prior ‘double-digit’ expectation,” Guggenheim noted, citing their updated Parks data analysis.

However, Guggenheim isn’t all doom and gloom for Disney. They raised their theatrical forecasts due to the strong performance of “Inside Out 2,” and adjusted their Direct-to-Consumer (DTC) estimates to account for higher Hotstar cricket rights costs.

These adjustments resulted in a slightly lower F3Q total company revenue projection of $23.2 billion, but segment operating income remains largely unchanged at $3.8 billion.

Despite the moderation in its Parks outlook, Guggenheim maintains a Buy rating for Disney and a $140 price target.



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 98,467.38 0.95%
ethereum
Ethereum (ETH) $ 3,509.78 4.30%
tether
Tether (USDT) $ 1.00 0.13%
solana
Solana (SOL) $ 254.26 1.44%
bnb
BNB (BNB) $ 668.61 0.71%
xrp
XRP (XRP) $ 1.50 6.38%
dogecoin
Dogecoin (DOGE) $ 0.430734 2.86%
usd-coin
USDC (USDC) $ 1.00 0.16%
cardano
Cardano (ADA) $ 1.06 2.45%
staked-ether
Lido Staked Ether (STETH) $ 3,507.05 4.00%
avalanche-2
Avalanche (AVAX) $ 46.08 12.65%
tron
TRON (TRX) $ 0.210994 0.04%
the-open-network
Toncoin (TON) $ 6.26 1.61%
stellar
Stellar (XLM) $ 0.527745 6.31%
shiba-inu
Shiba Inu (SHIB) $ 0.000026 2.30%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,143.22 3.51%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,422.37 0.65%
polkadot
Polkadot (DOT) $ 9.03 5.20%
chainlink
Chainlink (LINK) $ 18.88 10.84%
bitcoin-cash
Bitcoin Cash (BCH) $ 526.25 5.02%
weth
WETH (WETH) $ 3,515.80 4.26%
sui
Sui (SUI) $ 3.45 2.08%
pepe
Pepe (PEPE) $ 0.00002 2.00%
near
NEAR Protocol (NEAR) $ 6.82 7.33%
leo-token
LEO Token (LEO) $ 8.34 4.29%
litecoin
Litecoin (LTC) $ 98.46 0.54%
uniswap
Uniswap (UNI) $ 11.89 8.97%
aptos
Aptos (APT) $ 12.75 4.54%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,697.31 4.39%
internet-computer
Internet Computer (ICP) $ 12.61 12.22%
hedera-hashgraph
Hedera (HBAR) $ 0.146987 0.92%
usds
USDS (USDS) $ 1.00 0.11%
crypto-com-chain
Cronos (CRO) $ 0.191877 0.48%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.597843 7.76%
ethereum-classic
Ethereum Classic (ETC) $ 31.15 9.21%
render-token
Render (RENDER) $ 8.04 2.78%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.54 3.96%
kaspa
Kaspa (KAS) $ 0.15617 4.25%
bittensor
Bittensor (TAO) $ 533.10 1.25%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.13%
arbitrum
Arbitrum (ARB) $ 0.912998 7.86%
whitebit
WhiteBIT Coin (WBT) $ 24.48 0.27%
filecoin
Filecoin (FIL) $ 5.84 3.26%
vechain
VeChain (VET) $ 0.04358 3.10%
bonk
Bonk (BONK) $ 0.000047 3.05%
dai
Dai (DAI) $ 1.00 0.19%
celestia
Celestia (TIA) $ 8.02 11.27%
cosmos
Cosmos Hub (ATOM) $ 8.70 2.38%
blockstack
Stacks (STX) $ 2.23 11.02%
okb
OKB (OKB) $ 55.36 2.83%