Walt Disney Co. (DIS) Sank To A 6-Month Low Following Downgrade

While the sector didn’t need another catalyst beyond cautious remarks from executives during conference calls to discuss earnings, it got another one on Thursday in the form of an unusually bearish research note from Bernstein analyst Todd Juenger. The brokerage now has $114.00 target price on the entertainment giant’s stock, down from their previous target price of $125.00. It appears that media stocks which have taken a tumble over the last couple of weeks are still undergoing that correction. Walt Disney sank to a 6 1/2 month low and fell below its 200-day moving average. The company has a market cap of $167.22B and a P/E ratio of 20.57.

Over the last 6 months, Walt Disney NYSE:DIS has seen 0 unique insider buys, and 17 insider sales. During the same period past year, the business earned $1.28 EPS. Equities analysts forecast that Walt Disney will post $5.08 EPS for the current fiscal year.

The company also recently announced a semiannual dividend, which was issued on Wednesday, July 29th. This represents a dividend yield of 1.15%. Also, Director Robert W. Matschullat sold 2,965 shares of the company’s stock in a transaction dated Monday, June 8th. The sale was disclosed in a legal filing with the SEC, which is available through this link. The shares closed down 2.11 points or 1.93% at $106.94 with 12,021,536 shares getting traded. The disclosure for this sale can be found here.

Netflix Inc., the best performer in the Standard & Poor’s 500 Index this year, joined a decline in media stocks, falling the most since October after bucking the selloff that hit Walt Disney Co., CBS Corp. and others.

Out of 27 brokers covering Walt Disney, 0 rate it a Buy, 0 indicate a Hold while 0 suggest a Sell. Stifel Nicolaus reiterated a “buy” rating and issued a $120.00 price target on shares of Walt Disney in a research report on Monday, July 13th. The New York-based fund Klingenstein Fields & Co Llc revealed it had bought a stake worth about 10.29% of the investment professional’s stock portfolio in Walt Disney. Early in August, the company lowered outlook for the cable network arm. Thirteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Walt Disney has an average rating of “Buy” and a consensus price target of $112.50.

The Company operates in five business segments: Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products and Interactive. Walt Disney Parks and Resorts (WDP&R) is a provider of family travel and leisure experiences. The Walt Disney Studio brings music movies and stage plays to consumers around the whole world.