Entertainment giant The Walt Disney Company (
) on Monday saw its price target lowered by analysts at Nomura
The firm maintained its "Buy" rating DIS, but cut its price
target from $47 to $45, citing expectations for a "messy" third
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
The Bottom Line
Shares of Walt Disney (
) 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 (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.3 out of 5 stars.
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, as well as a detailed explanation of
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