Jefferies Remains Sidelined on Disney (DIS) Following 4Q
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Jefferies reiterated a Hold rating and $92.00 price target on Walt Disney (NYSE: DIS) following the company's 4Q earnings report. DIS reported EPS of $1.10, essentially in line with $1.11 estimates. Management also guided to modest EPS growth in F17, with cable prog. growth of 8%, offset by lower non-prog. exps.
Analyst John Janedis commented, "F4Q EPS of $1.10 compared to our $1.11 (FC: $1.16). with DIS guiding to modest EPS growth for '17 vs. our prior +4% (FC: +6%). We are tweaking our EPS to $5.88 (prior $5.96), which equates to 2.8% growth, with F1Q at $1.45 (prior $1.66) on timing of College FB games, impact of Hurricane Matthew, and a tough Studio/ CP comp. Maintain Hold."
Shares of Walt Disney closed at $94.96 yesterday.
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