The stock of The Walt Disney Company (NYSE:DIS) is now priced at $135.54 and the shares are 1.81 points up or 1.35% higher compared to its previous closing price of $133.73. The stock had 11.02 million contracts set over the past session. DIS shares’ daily volume is compared to its average trading volume at 12.521 million shares. However, it has a float of 1800 million and although its performance was 6.36% over the week, it’s one to watch. Analysts have given the DIS stock a yearly average price target of $133.39 per share. It means the stock’s downside potential is -1.59% with the DIS share price recently placing at $133.5801 to $136.8. However, some brokerage firms have priced the stock below the average, including one that has called $103.
The shorts are running away from the The Walt Disney Company stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the DIS shares have declined. Short interest in the stock represents just 1.37% of its float, but the volume has dropped by 0.
In the last trading session, The Walt Disney Company (NYSE:DIS) raised by $8.1 over the week and gained $18.6 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $153.41. The stock recorded its established 52-week high on 11/26/19.
Since 03/18/20, the stock has traded to a low of $79.07 at 71.42%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.09. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, The Walt Disney Company’s two-week RSI is 72.86. This suggests that the stock is oversold at the moment and that DIS shares’ price movement remains not stable. The stochastic readings are equally revealing at 82.77% meaning the DIS share price is currently in oversold territory.
The technical chart shows that the DIS stock will likely settle at between $137.03 and $138.53 per share. However, if the stock dips below $133.81, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $132.09.
Currently, the stock is trading in the green of MACD, with a reading of 3.35. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Guggenheim raised their recommendation for DIS from Neutral to Buy in August 05 review while maintain their target price of $140. Credit Suisse analysts upgraded their recommendation of the stock from Neutral to Outperform while keeping its target price at $116 to $146 in a flash note released to investors on August 05. Cowen seeing the stock struggling downgraded it from Outperform to Market Perform on July 16 placing it at $101 to $97.
The average rating for the DIS equity is 2.33 and is currently gathering a bullish momentum. Of 26 analysts tracking The Walt Disney Company polled by Reuters, 10 rated DIS as a hold. The remaining 16 analysts were split evenly. However, the split wasn’t equal as a majority (16) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the DIS stock price is 50.31X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 35.9. The Walt Disney Company has its P/E ratio at 2.9, which means that the stock is currently trading at a discount relative to the 3.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for The Walt Disney Company (NYSE:DIS) will increase by about 23.5%, which will see them reach $14500 million. The company’s full-year revenues are, however, expected to diminish by about -6.43%, down from $69600 million to $65100 million. DIS’s expected adjusted earnings should drop almost -161.68% to end up at -$0.66 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -72.1% to record $1.61/share.