Disney (DIS): There's Risk To 4Q EPS - Jefferies
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Jefferies analyst, John Janedis, reiterated his Hold rating on shares of Walt Disney (NYSE: DIS) and cut his revenue estimate for F4Q advertising for DIS' cable networks and broadcast stations. At Cable, with ESPN ratings down ~20% QTD, there is risk to network advertising (DIS is not alone given industry ratings).
At Broadcast, he is reducing the local advertising estimate on weaker political/ core. This brings F4Q EPS to $1.11 (prior $1.12) vs. consensus of $1.18.
The analyst noted he sees risk to DIS' F17 consensus EPS of $6.09.
No change to the price target of $92.
Shares of Walt Disney closed at $92.95 yesterday.
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