Disney Stock Has A Long Way into Bounce Back #Motley_FoolOctober 13, 2019
Disney ( NYSE:DIS ) is falling out of favor with investors.
The same media giant that was dazzling the market with its multiplex blockbusters, top-shelf theme parks, and Disney+ buzz has been slipping since hitting all-time highs this summer.
She lowered her earnings estimate to $0.95 a share for the fiscal fourth quarter on Wednesday, down from her previous forecast of $1.05 a share in profitability.
Wall Street was holding out for $1.35 a share in earnings out of Disney in its fiscal fourth quarter just three months ago.
Quadrani remains bullish on Disney, but the $150 price target she was originally targeting for the end of this calendar year has been revised as the goal for the end of the next calendar year.
It’s not just Fox integration costs and Disney+ launch expenses that are weighing on market sentiment.
Disney’s domestic theme parks are meandering following the debut of Star Wars : Galaxy’s Edge that failed to live up to the hype on both coasts.
The initial excitement about the surprisingly competitive pricing for Disney+ has been diluted over fears of a pricing war now that Apple ( NASDAQ:AAPL ) is launching its service earlier next month with an even more aggressive pricing strategy .
Disney remains at the top of the class when it comes to the market’s top consumer discretionary stocks .
Since 1995, Rick has been writing for The Motley Fool, where he’s a consumer and tech stocks specialist.
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