Shares of media giant Disney (NYSE:DIS) gained in after-hours trading after the company reported earnings for its first quarter of Fiscal Year 2024. Earnings per share came in at $1.22, which beat analysts’ consensus estimate of $0.99 per share. Sales remained relatively flat year-over-year, with revenue hitting $23.5 billion. This missed analysts’ expectations by $270 million.
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Furthermore, Hulu subscribers increased by 1.2 million quarter-over-quarter, while Disney+ Core subscribers slipped by 1.3 million. Looking forward, management expects to add between 5.5 million and 6 million Disney+ Core subscribers in the next quarter.
What Is the Target Price for DIS Stock?
Turning to Wall Street, analysts have a Strong Buy consensus rating on DIS stock based on 15 Buys, five Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. After an 11% decline in its share price over the past 12 months, the average DIS price target of $108.29 per share implies 9.23% upside potential.
