Disney (NYSE:DIS) has not had a good run of things lately. With streaming viewership in open decline and park attendance looking similar, it’s a bad set of conditions all the way around. Disney is likely hopeful to turn things around with a new CFO, but investors aren’t so sure, sending shares down over 1.5% in the closing minutes of Monday’s trading session.
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Disney brought in Hugh Johnston, who previously served as the CFO of PepsiCo, to take over for Christine McCarthy, who stepped down. With Disney poised to turn in its earnings report this Wednesday, all eyes will be on the House of Mouse as we see just how bad things have gotten or if there’s a turnaround in progress.
Johnston, meanwhile, spent 34 years as PepsiCo’s CFO and will now report to CEO Bob Iger. With several potential transformative operations in the works—including selling off ABC or finding new partners to take some of the costs of ESPN off Disney’s shoulders—it’s clear something has to change.
Is Disney Stock a Buy or Sell?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on DIS stock based on 18 Buys, five Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average DIS price target of $106.10 per share implies 26.41% upside potential.
