Disney Earnings Preview: As Streaming Growth Slows, Focus Returns To Legacy Units

investing.com2021-08-11

Reports Q3 2021 earnings on Thursday, Aug. 12, after the close Revenue Expectation: $16.76B EPS Expectation: $0.54 It’s likely the Walt Disney is going to have a tough financial story to tell when ...

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精彩评论

User99999
2021-08-11
User99999
Ok
- User99999:
  Ok
Camemberu
2021-08-11
Camemberu
Buy puts.
Noob6
2021-08-11
Noob6
Up up
- Okie_cheong:
  👍🏻👍🏻👍🏻
- Bobopo:
  Yea
- Tigal80:
  yes
- Annie_ann29:
  Yeah

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Netflix lost 430,000 subscribers in the U.S. and Canada lastquarteras life began to return to normal in North America after a year of lockdown and stay-at-home orders that fuelled demand for the home-based entertainment.\nDisney, which had 103.6 million streaming customers at the end of April, has enjoyed explosive growth over the past year and a half as its Disney+ service quickly became a formidable streaming competitor for Netflix. After its launch in November 2019, the service provided the company a much needed boost when sales from its theme parks and theaters plunged.\nDisney Weekly Chart.\nThe slowing growth in Disney+ subscriptions has also taken some shine off its shares in recent weeks. The stock has fallen 13% since hitting a record high of $203 intraday in early March. The stock closed on Tuesday at $177.07.\nReturn To Normal\nDespite this uncertainty, there are clear signs that Disney has emerged much stronger after the pandemic, and its growth will soon return to normal levels, thanks to huge pent-up demand for travel and entertainment outside the home.\nFor the quarter that ended June 30, analysts expect sales to grow 42% to $16.76 billion compared with the same period last year. The earnings per share is projected to reach $0.54, rebounding from a loss of $0.64 from last year.\nThere could be some bumps on this road to recovery as the pandemic evolves and the emergence of virus variants could delay a full reopening, but Disney’s diversified business has all it takes to ultimately rebound.\nAlready, executives have said bookings for Disney World in Orlando, Florida, are back to levels seen in 2019, while guest spending per capita at the park in the latest period jumped by double digits from a year ago. As far as growth at Disney+ is concerned, the company is keeping its guidance of 260 million global subscribers by the end of 2024, helped by a robust content slate after production delays and the shuttering of theaters for over a year.\nMorgan Stanley, which has an overweight rating on Disney’s stock, recommends investors buy this stock if its shares show weakness. Its recent note said:\n\n “Shares are flat for the year, digesting last year’s big 4Q run-up and concerns over near-term streaming estimates. We raise estimates and our [price target] on a faster parks recovery and a successful NFL renewal.”\n\nMorgan Stanley raised its price target to $210 per share from $200, representing a premium of 18.6% from where the stock closed on Tuesday.\nBottom Line\nDisney’s streaming growth has likely reached its peak after a powerful run during the pandemic, but that slowdown is normal and very much expected. Any post-earnings weakness in Disney stock is a buying opportunity in our view, especially when Disney’s core business, which includes theme parks and movie theaters, is returning to growth and the company has established itself as the second largest streaming entertainment provider after 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