Needham & Company Maintains a 'Hold' on Walt Disney (DIS); FY3Q11 Preview

Needham & Company maintains a 'Hold' on Walt Disney (NYSE: DIS).

Needham analyst says, "We maintain our FY3Q11 revenue estimate of $10.354B, up 4% y/y, and our EPS estimate of $0.73, up 8% y/y...Although we are lowering our EBITA estimate for Cable Networks by 4% to $1.556B owing to lower equity income and political ad spending, this is offset by a lower estimate for below the line items including net interest expense (5% lower to $95mm), and a lower tax rate, resulting in no change to our EPS estimate of $0.73. We are raising our FY4Q11 EPS estimate to $0.62 (from $0.60) owing to lower Filmed Entertainment expenses than we previously expected. We are fine tuning our FY12 revenue estimate, but maintaining our EPS estimate at $2.80."

For more ratings news on Walt Disney click here and for the rating history of Walt Disney click here.

Shares of Walt Disney closed at $39.57 yesterday.

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