Walt Disney Co. (
) shares are higher ahead of the Company's second-quarter earnings
report, expected out after the market closes tomorrow. The stock is
up0.6 percent today.
Disney is expected to report EPS of $0.56 on revs of $9.13 billion.
Last quarter, the Burbank, CA-based entertainment and media
mega-conglomerate had EPS of $0.68 on revs of $10.72 billion, both
mixed to the consensus. Looking back at Q210, Disney produced EPS
of $0.48 on revs of $8.58 billion, beating consensus views calling
for EPS of $0.46 and revs of $8.39 billion.
Shares gained about 14 percent through the quarter, to $43.09 at
the end of March. The stock is up 0.5 percent since then, as is
currently up 15.4 percent on the year.
Disney stock is trading with a forward P/E of 14.2x FY12 EPS
estimates, compared with 13.3x at News Corp. (Nasdaq: NWSA) and
11.5x for Time Warner Inc. (NYSE: TWX).
Data from Bloomberg has 18 analysts with a Buy on Disney, 11 with a
hold, and none suggesting to Sell. The analyst price target average
is $49, with a high of $46 and low of $44. Shares have traded in a
range of $44.34 - $30.72 over the last 52-weeks.
Goldman Sachs is looking for EPS of $0.54 on revs of $8.756
billion. Goldman says that their estimates are "slightly below
consensus estimates due to new cruise ship launch costs and a
Mars Needs Moms
...Broadcasting results should also benefit from Disney's
television streaming deal with Netflix (Nasdaq: NFLX), which we
estimate to be worth $150 million for one year, with 60% of the
income attributed to Broadcasting and the remainder to Cable
Networks." Goldman also included the temporary closure of Tokyo
Disneyland in their model.
Janney is looking for EPS of $0.57 on revs of $8.83 billion. The
firm recently revised their numbers down (from EPS of $0.64 and
$8.972 billion previous) based on "the weak 1Q11 box office,
Mars Needs Moms!
I Am Number Four
. The miss by Mars was so severe (current domestic box office
receipts of $20 million compared to an estimated production budget
of $150 million) that impairment is likely."
Additionally, Janney notes that "Disney has the greatest exposure
to uncertainty surrounding the Middle East, the ongoing risk in
Japan, and an extended NFL lockout, which all continue to weigh on
Stay tuned to StreetInsider.com's
section to see our analysis of the highly-anticipated quarterly
results within seconds of their release.