Disney (DIS): Growth Continues To Slow But There Are Things To Like - Needham

November 11, 2016 7:31 AM EST
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Price: $98.50 --0%

Rating Summary:
    18 Buy, 22 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 26 | Down: 15 | New: 13
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Needham & Company analyst, Laura Martin, reiterated her Hold rating on shares of Walt Disney (NYSE: DIS) after the company reported FY4Q16 revenue of $13.1B (down 3% y/y), Operating EPS of $1.10 (down 9% y/y).

The analyst most like the following points about the quarter:
1) 4mm visitors to Shanghai Disney (implying potentially 10mm visitors in its first year)
2) US cable subs were down only 2% y/y in FY4Q16 quarter, stable with the past 4 quarters
3) a new direct to consumer product from ESPN was a recurring topic, anchored by DIS’s investment in BAMTech
4) DIS isn’t worried that ratings weakness in the NFL is structural
5) During FY4Q16, DIS repurchased 16.6mm shares for $1.6B and stated that it would repurchase $7-$8B of shares in FY17
6) DIS said it was 100% currency hedged for FY17

For an analyst ratings summary and ratings history on Walt Disney click here. For more ratings news on Walt Disney click here.

Shares of Walt Disney closed at $94.96 yesterday.



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