From Barchart: 2024-05-17 09:39:41

Morgan Stanley’s James Gorman buys $2 million of Disney stock, marking a significant insider purchase amidst evolving consumer preferences in the streaming sector. Disney’s recent earnings report showed a revenue miss but a profitable streaming business. The global streaming market is projected to reach $75.5 billion by 2027.
Disney stock has rebounded lately, up 13.6% in the last 52 weeks. The company recently increased its dividend by 50%, offering a current yield of about 0.87%. With a market cap of $188.5 billion and a forward P/E ratio of 21.72, Disney stock is trading at a discount compared to historical averages.
Disney’s Q2 earnings report showed an EPS beat but a revenue miss. Despite the miss, Disney increased its full-year EPS growth forecast to 25%. The company also announced a strategic partnership with Walmart to enhance digital advertising effectiveness.
Disney continues to drive growth through recent cinematic releases, strategic partnerships, and new ventures in digital and gaming realms. The company secured a $735 million loan to upgrade its iconic resort properties and merged its Indian media assets with Reliance Industries, solidifying its global entertainment dominance. Analysts remain bullish on Disney stock with a consensus “strong buy” rating and mean target price of $126.96.



Read more at Barchart: This Walt Disney Insider Just Bought $2M in Stock, Should You?