UBS Maintains a 'Neutral' on Walt Disney (DIS); Generally Solid Quarter/ Ad Growth Slower
Tweet
Share
E-mailGet Alerts DIS Hot Sheet
Price: $106.85 +1.96%
Rating Summary:
35 Buy, 19 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
35 Buy, 19 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
UBS maintains a 'Neutral' on Walt Disney (NYSE: DIS) price target raised from $35 to $42.
UBS analyst says, "F1Q results were light on revenue, but ahead on EBIT ($2.34B vs. our $2.17B estimate). Revs of $10.8B were $400M below on film/ media. EBIT upside was primarily driven by operating leverage at the parks/ media, leading to total co. margins 230bps better than expected at 2.1.7%. We are raising our F2Q/ F12 EPS estimates to $0.66/ $3.02 vs. prior $0.62/ $2.85." (FY13 from $3.31 to $3.47)
"Industry Implications – TV DVD Sales a Drag/ Ad Growth No Surprise: Interestingly, post Viacom's (NYSE: VIA) reported weakness in TV DVD sales, DIS’ 10Q indicated the “other” revenue bucket at the media segment declined due to lower sales of Lost/ Scrubs, both of which are available on Netflix (Nasdaq: NFLX) (with all seasons of Lost also on Amazon Prime). Reported ad growth at ABC, ESPN and the TV stations were below pacings from early Nov., which was not a surprise, likely somewhat of a read-through for CBS (NYSE: CBS), News Corp (Nasdaq: NWSA) and Scripps (NYSE: SNI) (Time Warner (NYSE: TWX) guided lower in Jan). While mgmt. indicated C2Q options were light, we expect them to be a few pts above C2Q11."
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 $40.98 yesterday.
UBS analyst says, "F1Q results were light on revenue, but ahead on EBIT ($2.34B vs. our $2.17B estimate). Revs of $10.8B were $400M below on film/ media. EBIT upside was primarily driven by operating leverage at the parks/ media, leading to total co. margins 230bps better than expected at 2.1.7%. We are raising our F2Q/ F12 EPS estimates to $0.66/ $3.02 vs. prior $0.62/ $2.85." (FY13 from $3.31 to $3.47)
"Industry Implications – TV DVD Sales a Drag/ Ad Growth No Surprise: Interestingly, post Viacom's (NYSE: VIA) reported weakness in TV DVD sales, DIS’ 10Q indicated the “other” revenue bucket at the media segment declined due to lower sales of Lost/ Scrubs, both of which are available on Netflix (Nasdaq: NFLX) (with all seasons of Lost also on Amazon Prime). Reported ad growth at ABC, ESPN and the TV stations were below pacings from early Nov., which was not a surprise, likely somewhat of a read-through for CBS (NYSE: CBS), News Corp (Nasdaq: NWSA) and Scripps (NYSE: SNI) (Time Warner (NYSE: TWX) guided lower in Jan). While mgmt. indicated C2Q options were light, we expect them to be a few pts above C2Q11."
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 $40.98 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Fiserv (FISV) PT Lowered to $60 at Freedom Broker
- Petronet LNG Ltd. (PLNG:IN) PT Raised to INR310 at ICICI Securities
- Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
UBSSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
