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Is Disney (DIS) A Buy Heading into Q1 Earnings Announcement?
Media giant Disney (DIS - Free Report) is set to report fiscal Q1 earnings results on Wednesday after the closing bell. Disney, a Zacks Rank #5 (Strong Sell), has missed on earnings in two of the last four quarters. But with Bog Iger back at the helm, is Disney stock a buy?
The entertainment company is expected to post a profit of $0.69/share, which would reflect negative growth of -34.91% versus the same quarter last year. Revenues are projected to climb 6.95% to $23.34 billion.
CEO Bog Iger returned to the helm back in November of last year. He is expected to crystallize Disney’s strategy for Hulu this week. Disney shares have risen nearly 30% to start off the year.
The entertainment company has witnessed a deterioration of future earnings estimates, leading to a ‘Strong Sell’ ranking for Disney shares. A -5.53% Earnings ESP points to another potential earnings miss.