With the current price of $131.79, the stock of The Walt Disney Company (NYSE:DIS) concluded the trading session seeing its price rise by 1.3 points or at a gain of 1% compared to its previous day’s closing price of $130.49. About 11.671 million shares of the stock changed hands on the day. The trading volume of DIS’s shares during the past session compares with the stock’s average daily trading volume of 15 million shares. On the other hand, a float of 1800 million shares and a weekly performance of 3.28% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $131.78 for DIS’s share which suggests that the stock, price of which is currently buoying between $130.49 and $133, is prone to a loss of -0.01%. But still, there are some analysts recommending a price below the agreed average price and one of them has given a target price of $97 to the stock.
The latest data released on July 31, 2020 shows that the short float in the The Walt Disney Company’s stock is trending downward as short interest in DIS shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the DIS is currently comprised of 1.44% of the float. Over the past two weeks, stock’s short interests weakened as number of shorted shares increased to shares from the previous figure of shares. Stock’s average intraday volume is now standing at shares which indicate that the days to cover the shorts are nearly.
After concluding the day’s trading, price of The Walt Disney Company (NYSE:DIS) is up $4.18 over the week and it is $10.89 above 20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $153.41 that was attained on 11/26/19.
The stock has traded as low as $79.07 in past 52-week, and its current price is 66.68% above from that 52-week low price mark recorded on 03/18/20, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 1.06. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 72.21 as 14-days RSI of The Walt Disney Company. This means that the DIS is currently in an oversold territory and its share’s price movement is likely to be shaky for a while. Similarly, the stochastic oscillator is indicating a momentum of 88.39%, implying stock’s share price is buoying in an oversold state.
Technical chart is showing 1st resistance point of $133.03 for the DIS’s share while placing it at a 2nd resistance point of $134.27 to be settled at. But if the stock takes a plunge lower than the 1st support price of $130.52 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $129.25.
MACD oscillator is showing a reading of 4.8 for the stock which means that it is currently in the green zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average, which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.
Guggenheim lifted its recommendation for DIS stock from Neutral to Buy in a review note dated August 05, and moved the price target up at $140. The stock gets its recommendation upgraded from Neutral to Outperform from the analysts at Credit Suisse who assigned a target price of $116 to $146 in their August 05 note to investors.Cowenanalysts downgraded their recommendation from Outperform to Market Perform on July 16, while assigning a price target of $101 to $97.
The average rating of 2.33 for DIS is placing the stock in bullish category at the moment. In a poll by Reuters including 26 analysts in it who kept tracking the The Walt Disney Company, 10 rated the stock as hold. Others were in different opinions for the DIS. Out of remaining 16 analysts, 16 rated the stock as a buy or strong buy. 0 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.
A quick look at other side of the picture shows that DIS stock is ahead of earnings per share estimates with a forward price-to-earnings ratio of 47.61. Stock’s current price-to-sales (P/S) ratio of 0 is at the rear of industry’s average P/S ratio of 33.4. A comparison of The Walt Disney Company’s trailing 12-months P/E ratio of 2.7 implies that it is trading above the industry’s average P/E ratio, which currently is 3.4.
Projection by Zacks Consensus Estimates suggests that The Walt Disney Company (NYSE:DIS) will see its current-quarter revenues rise by nearly 23.75% to be increased to about $14510 million. Full-year revenue of the company is however forecasted to be fell to nearly -6.4% to bring $65120 million in revenues against last year revenue of $69570 million. Earnings, after adjustments, are likely to fell by -163.55% to post an EPS of -$0.68, while estimate for company’s full year earnings is $1.6 per share with a growth rate of -72.27%.