Walt Disney’s Price Target Cut at Nomura Securities; “Buy” Rating Maintained (DIS)

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Entertainment giant The Walt Disney Company ( DIS ) on Monday saw its price target lowered by analysts at Nomura Securities.

The firm maintained its "Buy" rating DIS, but cut its price target from $47 to $45, citing expectations for a "messy" third quarter.

A Nomura analyst commented, "Yes, we believe F3Q will be a messy quarter, but well telegraphed from the company, in our view. Despite that, we still think the 'sell-side' is overestimating Disney's earnings for the quarter, with current consensus at $0.74 vs. our unchanged $0.72 estimate. The biggest driver in F3Q, in our view, is the timing of the $228mn ESPN revenue deferral into F4Q, which pushes our next-quarter estimates above consensus."

Walt Disney shares rose 14 cents, or +0.4%, in premarket trading Monday.

The Bottom Line
Shares of Walt Disney ( DIS ) have a 1.06% dividend yield, based on Friday's closing stock price of $37.58. The stock has technical support in the $34-$36 price area. If the shares can firm up, we see overhead resistance around the $40-$41 price levels.

The Walt Disney Company ( DIS ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: DIS

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