{"id":11676,"date":"2023-11-09T14:27:32","date_gmt":"2023-11-09T14:27:32","guid":{"rendered":"https:\/\/infundpros.com\/markets\/disney-stock-jumps-what-wall-street-thinks-about-the-latest-earnings-report\/"},"modified":"2023-11-09T14:27:33","modified_gmt":"2023-11-09T14:27:33","slug":"disney-stock-jumps-what-wall-street-thinks-about-the-latest-earnings-report","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=11676","title":{"rendered":"Disney Stock Jumps. What Wall Street Thinks About the Latest Earnings Report."},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

Walt Disney CEO Bob Iger has one remedy for the tangle in which the company finds itself\u2014more cost cuts. Analysts are cautiously optimistic that will be enough for the stock to rise from its current nine-year lows.\u00a0<\/p>\n

\n Disney
\n (ticker: DIS) shares were up 4.1% in premarket trading on Thursday at $88.00 after an earnings report boost. The headline surprise was an extra $2 billion in future cost savings, bringing the company\u2019s cost-cutting target to $7.5 billion.\u00a0<\/p>\n

\n

Disney stock is still hovering at around its lowest levels since 2014 and that has some analysts looking at a potential bargain. <\/p>\n

\u201cMixed results, but cost-cutting measures are setting up for strong FCF [free cash flow] growth in 2024\u2014and a likely resumption of the dividend,\u201d wrote Seaport Research analyst David Joyce.\u00a0<\/p>\n

Joyce has a $96 target price and Buy rating on Disney stock.\u00a0<\/p>\n

Disney\u2019s dividend resumption had already been signaled earlier this year when Iger implemented the first wave of cost cuts, but more savings could signal a faster ramp up from the \u201cmodest\u201d payout the company has pledged to resume initially. Free cash flow is set to rise to $8 billion in fiscal 2024 from $4.9 billion in Disney\u2019s recently ended fiscal year. <\/p>\n

J.P. Morgan analyst Philip Cusick said he was modeling Disney\u2019s initial annual dividend at 40 cents a share. <\/p>\n

Cusick has an Overweight rating and $120 target price on Disney stock, citing a strong asset mix and a likely rapid decline in streaming losses in the next year.\u00a0<\/p>\n

Iger still faces a headache over the future of linear TV channels such as ABC and the planned transition to a fully streaming model for ESPN, Activist investor Nelson Peltz and his Trian Fund Management are expected to push for more radical changes ahead of a potential proxy battle for board seats. <\/p>\n

J.P. Morgan\u2019s Cusick said he still doesn\u2019t expect Disney to sell any major linear channels but there should be additional cost-cutting opportunities in the business. <\/p>\n

There might be good reason for Iger\u2019s reluctance to be rushed into selling off linear TV channels.<\/p>\n

\u201cWe believe the TV vertical\u2019s performance could stabilize heading into an election year, and [Disney] stock appears increasingly attractive,\u201d said Tejas Dessai, an analyst at exchange-traded fund provider Global X. \u00a0<\/p>\n

Spending on political advertising on linear TV channels is likely to be boosted in the 2024 election cycle. Global media agency\u00a0Assembly\u00a0has estimated\u00a0political advertisers are likely to spend $12 billion overall during the cycle. <\/p>\n

Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Walt Disney CEO Bob Iger has one remedy for the tangle in which the company finds itself\u2014more cost cuts. Analysts are cautiously…<\/p>\n","protected":false},"author":1,"featured_media":11677,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":{"0":"post-11676","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets"},"yoast_head":"\nDisney Stock Jumps. What Wall Street Thinks About the Latest Earnings Report. | inFundPros<\/title>\n<meta name=\"description\" content=\"Walt Disney CEO Bob Iger has one remedy for the tangle in which the company finds itself\u2014more cost cuts. Analysts are cautiously optimistic that will be\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=11676\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Disney Stock Jumps. What Wall Street Thinks About the Latest Earnings Report. | inFundPros\" \/>\n<meta property=\"og:description\" content=\"Walt Disney CEO Bob Iger has one remedy for the tangle in which the company finds itself\u2014more cost cuts. Analysts are cautiously optimistic that will be\" \/>\n<meta property=\"og:url\" content=\"https:\/\/infundpros.com\/?p=11676\" \/>\n<meta property=\"og:site_name\" content=\"inFundPros\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-09T14:27:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-09T14:27:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/11\/1699540053_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Press Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Press Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/infundpros.com\/?p=11676#article\",\"isPartOf\":{\"@id\":\"https:\/\/infundpros.com\/?p=11676\"},\"author\":{\"name\":\"Press Room\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff\"},\"headline\":\"Disney Stock Jumps. What Wall Street Thinks About the Latest Earnings Report.\",\"datePublished\":\"2023-11-09T14:27:32+00:00\",\"dateModified\":\"2023-11-09T14:27:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/infundpros.com\/?p=11676\"},\"wordCount\":431,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/infundpros.com\/#organization\"},\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/infundpros.com\/?p=11676#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/infundpros.com\/?p=11676\",\"url\":\"https:\/\/infundpros.com\/?p=11676\",\"name\":\"Disney Stock Jumps. What Wall Street Thinks About the Latest Earnings Report. | inFundPros\",\"isPartOf\":{\"@id\":\"https:\/\/infundpros.com\/#website\"},\"datePublished\":\"2023-11-09T14:27:32+00:00\",\"dateModified\":\"2023-11-09T14:27:33+00:00\",\"description\":\"Walt Disney CEO Bob Iger has one remedy for the tangle in which the company finds itself\u2014more cost cuts. Analysts are cautiously optimistic that will be\",\"breadcrumb\":{\"@id\":\"https:\/\/infundpros.com\/?p=11676#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/infundpros.com\/?p=11676\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/infundpros.com\/?p=11676#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/infundpros.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Disney Stock Jumps. What Wall Street Thinks About the Latest Earnings Report.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/infundpros.com\/#website\",\"url\":\"https:\/\/infundpros.com\/\",\"name\":\"Fintech Advance\",\"description\":\"Latest Finance and Tech News and Updates\",\"publisher\":{\"@id\":\"https:\/\/infundpros.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/infundpros.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/infundpros.com\/#organization\",\"name\":\"Fintech Advance\",\"url\":\"https:\/\/infundpros.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"contentUrl\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"width\":409,\"height\":70,\"caption\":\"Fintech Advance\"},\"image\":{\"@id\":\"https:\/\/infundpros.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff\",\"name\":\"Press Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"contentUrl\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"caption\":\"Press Room\"},\"sameAs\":[\"https:\/\/infundpros.com\"],\"url\":\"https:\/\/infundpros.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Disney Stock Jumps. What Wall Street Thinks About the Latest Earnings Report. | inFundPros","description":"Walt Disney CEO Bob Iger has one remedy for the tangle in which the company finds itself\u2014more cost cuts. Analysts are cautiously optimistic that will be","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/infundpros.com\/?p=11676","og_locale":"en_US","og_type":"article","og_title":"Disney Stock Jumps. What Wall Street Thinks About the Latest Earnings Report. | inFundPros","og_description":"Walt Disney CEO Bob Iger has one remedy for the tangle in which the company finds itself\u2014more cost cuts. Analysts are cautiously optimistic that will be","og_url":"https:\/\/infundpros.com\/?p=11676","og_site_name":"inFundPros","article_published_time":"2023-11-09T14:27:32+00:00","article_modified_time":"2023-11-09T14:27:33+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/11\/1699540053_social.jpeg","type":"image\/jpeg"}],"author":"Press Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Press Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/infundpros.com\/?p=11676#article","isPartOf":{"@id":"https:\/\/infundpros.com\/?p=11676"},"author":{"name":"Press Room","@id":"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff"},"headline":"Disney Stock Jumps. What Wall Street Thinks About the Latest Earnings Report.","datePublished":"2023-11-09T14:27:32+00:00","dateModified":"2023-11-09T14:27:33+00:00","mainEntityOfPage":{"@id":"https:\/\/infundpros.com\/?p=11676"},"wordCount":431,"commentCount":0,"publisher":{"@id":"https:\/\/infundpros.com\/#organization"},"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/infundpros.com\/?p=11676#respond"]}]},{"@type":"WebPage","@id":"https:\/\/infundpros.com\/?p=11676","url":"https:\/\/infundpros.com\/?p=11676","name":"Disney Stock Jumps. What Wall Street Thinks About the Latest Earnings Report. | inFundPros","isPartOf":{"@id":"https:\/\/infundpros.com\/#website"},"datePublished":"2023-11-09T14:27:32+00:00","dateModified":"2023-11-09T14:27:33+00:00","description":"Walt Disney CEO Bob Iger has one remedy for the tangle in which the company finds itself\u2014more cost cuts. Analysts are cautiously optimistic that will be","breadcrumb":{"@id":"https:\/\/infundpros.com\/?p=11676#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/infundpros.com\/?p=11676"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/infundpros.com\/?p=11676#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/infundpros.com\/"},{"@type":"ListItem","position":2,"name":"Disney Stock Jumps. What Wall Street Thinks About the Latest Earnings Report."}]},{"@type":"WebSite","@id":"https:\/\/infundpros.com\/#website","url":"https:\/\/infundpros.com\/","name":"Fintech Advance","description":"Latest Finance and Tech News and Updates","publisher":{"@id":"https:\/\/infundpros.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/infundpros.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/infundpros.com\/#organization","name":"Fintech Advance","url":"https:\/\/infundpros.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/infundpros.com\/#\/schema\/logo\/image\/","url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","contentUrl":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","width":409,"height":70,"caption":"Fintech Advance"},"image":{"@id":"https:\/\/infundpros.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff","name":"Press Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/infundpros.com\/#\/schema\/person\/image\/","url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","contentUrl":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","caption":"Press Room"},"sameAs":["https:\/\/infundpros.com"],"url":"https:\/\/infundpros.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/11676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11676"}],"version-history":[{"count":1,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/11676\/revisions"}],"predecessor-version":[{"id":11678,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/11676\/revisions\/11678"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/media\/11677"}],"wp:attachment":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}