Needham & Company Remains Sidelined on Disney (DIS) Ahead of 3Q15 Results

Needham & Company maintains a Hold rating on Walt Disney (NYSE: DIS) ahead of FY3Q15 results. Analyst Laura Martin is raising estimates on revenue to $13.3B and Operating EPS to $1.43 (up 1% from previouse estimates). DIS is scheduled to release its results on August 4th.

Martin commented, "We raise our estimates for DIS’s FY3Q15 to revenue of $13.3B (up 7% y/y and 1% above our previous estimates), Operating Income of $4.1B (up 7% y/y and 2% above our previous estimates), and Operating EPS of $1.43 (up 11% y/y and 1% above previous estimates) based upon: 1) the continued success of Frozen which is positively impacting Consumer Products; 2) a more profitable revenue mix at the Disney parks; 3) strong film results from Avengers: Age of Ultron and Inside Out. These positive revisions were partially offset by lower than expected results from Tomorrowland and higher film marketing expenses in FY3Q15, as well as lower profits at Equity in Income due to lower A&E ratings than we had expected."

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 $118.86 yesterday.

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