Media company Disney (DIS) is expanding its search for a successor to CEO Bob Iger. According to the Wall Street Journal, the company is now exploring external options in addition to its internal candidates. This broader search is being led by James Gorman, Disney’s incoming board chairman.
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One notable external candidate being considered is Andrew Wilson, CEO of Electronic Arts (EA). Wilson’s experience in the gaming industry, particularly his successful tenure at EA Sports, aligns with Disney’s growing focus in the gaming business.
While external candidates like Wilson are being considered, Disney’s board is also evaluating four of its internal executives. These internal candidates include Dana Walden and Alan Bergman, co-chairs of Disney Entertainment; Jimmy Pitaro, chairman of ESPN; and Josh D’Amaro, chairman of Disney Parks, Experiences, and Products.
Disney is currently facing several challenges, including the changing media landscape, box office struggles, and fundamental changes at ESPN, the company’s sports media network. Therefore, the next Disney CEO will need to address these obstacles and deliver strong financial results.
DIS to Report Fiscal Q4 Results Tomorrow
DIS is set to report its fiscal fourth-quarter results tomorrow, November 14. Currently, Wall Street analysts expect Disney to report earnings per share of $1.10, a 34% year-over-year increase. Also, revenue is expected to increase 6% to reach $22.48 billion.
Investors should note that Walt Disney’s website traffic data also points to strong Q4 results. According to TipRanks’ Website Traffic Tool, total visits to disneyplus.com climbed 65.8% from the year-ago quarter and 21.1% sequentially.
Is Walt Disney a Good Stock to Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on DIS stock based on 12 Buys and four Holds assigned in the past three months. At $114, the average Disney price target implies a 12.88% upside potential. Shares of the company have gained over 12% year-to-date.
