Needham & Company Maintains a 'Hold' on Walt Disney (DIS); ROIC Analysis

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March 12, 2012 7:56 AM EDT
Get Alerts DIS Hot Sheet
Price: $106.85 +1.96%

Rating Summary:
    35 Buy, 19 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on Walt Disney (NYSE: DIS).

Analyst, Laura Martin, said, "There is currently an 89% correlation between FY12E ROIC and media industry share prices. Wall St closely follows the income statement, ie, the numerator. In this quarterly report, we analyze the denominator - trends in assets intensity, capital allocation, working capital changes, TV and film investments, and free cash flow...We estimate that DIS’s ROIC will increase by approximately 30 basis points from 10.1% to 10.4% in FY12E. This is one of the lowest projected improvements in our coverage universe in FY12. DIS’s WACC should remain at about 8.7%, by our estimates."

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 $42.24 yesterday.

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Needham & Company