Sign InSummary
As of June 23, 2023, the technical and fundamental analysis suggest a bearish trend for The Walt Disney Company's stock in the short term, with its recent partnership with Apple for the Vision Pro augmented reality headset and strong theme park performance providing potential growth opportunities in the future.
Technical Analysis
The Walt Disney Company (ticker: DIS) last closed on June 23, 2023 at a price of $88.1, marking a 0.44% decrease from the previous day. The stock traded between a low of $87.61 and a high of $88.395. The stock has observed a year high of $126.48 and a year low of $84.07. The market capitalization is $160.99 billion, with 1.83 billion shares outstanding. The stock's average trading volume is 12.07 million shares and the trading volume on the last close was 13.50 million.
The RSI14 of DIS is 38, indicating a slightly bearish momentum. With a 50-day moving average of $94.60 and a 200-day moving average of $98.06, the stock exhibits a downtrend. Moreover, the MACD (3-month) is at -0.028, supporting a bearish momentum.
Fundamental Analysis
The Walt Disney Company has an EPS of $2.24 and a PE ratio of 39.33. The earnings announcement is expected on August 8, 2023. The discounted cash flow (DCF) is calculated at $94.46. The target consensus price for DIS is $159.07, with a target high of $263 and a target low of $105, while the target median is $151.
News Impact
Recent news affecting Disney's stock price include reports on legacy media companies entering dark times, with Disney being among those who might struggle. On the other hand, Disney's branded theme parks continue to perform well, and the company is partnering with Apple for its augmented reality headset, Vision Pro, which could have a significant impact on the entertainment industry. The growing importance of live sports programming could also provide new opportunities for the company.
Stock Price Prediction
Based on the technical and fundamental analysis combined with the available news, the stock price for Disney is expected to remain bearish in the short term. Consequently, the stock price for the next trading day (June 26, 2023) could trade between $86 and $89. For the upcoming week, the stock price is predicted to remain in the range of $84 to $92.
Final Evaluation
The Walt Disney Company currently appears to be in a bearish trend, facing challenges with its legacy media business. However, strong performance in their theme parks and opportunities in augmented reality and live sports programming could boost the company's stock in the future. Therefore, the current evaluation of Disney's stock would be a Hold. Investors may want to wait for additional positive news or improvements in company performance before considering a Buy position.
