3 Dates for Disney Stock Investors to Circle in February

Fred Prouser / Reuters - stock.adobe.com

Walt Disney (NYSE: DIS) is on a roll. After clocking in as one of the worst stocks in the Dow last year, Disney shares soared 25% in January. Last month was great. Can the House of Mouse keep rolling in February?

This may be the shortest month of the year, but Disney will still be busy. From a major theatrical release to festivities heating up at its original theme park, there's a lot happening this month for Disney. There's even a critical financial update coming next week. Let's take a look at some of the dates that bear watching.

Mickey and Minnie Mouse in front of Cinderella's Castle at the Magic Kingdom.

Image source: Disney.

Feb. 8

We're now less than a week away from Disney revealing results for its fiscal first quarter of 2023. It reports shortly after Wednesday's market close. The earnings call will be a big draw, largely because it's the first quarter that Bob Iger will preside over since returning as CEO in late November.

The numbers could also turn heads. Disney's theme parks were booming by most accounts, and that was with prices inching higher -- and higher -- for experiences as the quarter played out. It happened too late in Q1 to make a material impact on the reporting period itself, but Disney+ prices rose in most markets in early December, and it introduced an ad-supported tier at the old price point. Disney also had a pair of blockbusters hit the multiplex during the quarter, but movies tend to take time before they contribute to the bottom line.

Analysts aren't holding out for much. They expect a decline in earnings on a modest 7% year-over-year uptick in revenue. Cord-cutters and advertisers paring back on media spending will take a bite. However, there is room for an upside surprise. It would be a great start to the new era of Iger.

Feb. 17

Disney has dominated the domestic box office for nearly three months. Between Black Panther: Wakanda Forever and Avatar: The Way of Water, Disney has been behind the No. 1 film every single weekend since the second week of November. Really. Look it up.

If Avatar can continue to tread water for another two weeks, it can hand the multiplex leadership baton to Ant-Man and the Wasp: Quantumania. Disney's Marvel movies have been box-office gold, and this one should be Disney's third major release in the last four months.

Away from the cinema -- and even away from Disney properties -- another event to watch on Feb. 17 is the official grand opening of Super Nintendo World at Comcast's (NASDAQ: CMCSA) Universal Studios Hollywood. It's going to draw patrons to the rival theme park that is an hour's drive away from the original Disneyland park. More importantly, Super Nintendo World will open at Universal Orlando's new Epic Universe theme park in Florida two years from now, where Comcast is a bigger competitor to Disney World.

Feb. 24

Disneyland kicked off the centennial of the media giant's founding in 1923 on Jan. 27, opening the new Mickey & Minnie's Runaway Railway ride and debuting a pair of new nighttime shows. It will continue to sprinkle in new things to do, and on Feb. 24 the Magic Happens parade returns to Disneyland.

The daytime parade didn't have much of a chance when it debuted in early 2020, just before the pandemic shut down the resort for more than a year. Magic Happens technically isn't new, but it will be a new experience for most visitors. Disney theme parks have been the bright star for the media stock bellwether on this side of the pandemic as a reopening play. Reintroducing new(ish) attractions will keep the good times going.

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Rick Munarriz has positions in Walt Disney. The Motley Fool has positions in and recommends Walt Disney. The Motley Fool recommends Comcast and recommends the following options: long January 2024 $145 calls on Walt Disney and short January 2024 $155 calls on Walt Disney. The Motley Fool has a disclosure policy.



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


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