Disney’s (DIS) Moana 2 raked in over $221 million at the box office over the Thanksgiving holiday, according to a CNBC report. This exceeded analysts’ expectations, which had predicted the film would earn over $100 million. In fact, Moana 2 surpassed Disney’s Frozen II, which had previously earned $125 million during the Thanksgiving holiday in 2019.
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Building on this impressive success, the overall Thanksgiving holiday weekend shattered box office records, fueled by the trio of Disney’s Moana 2, Universal’s (CMCSA) Wicked, and Paramount’s (PARA) Gladiator II. Together, these films brought in an unprecedented $420 million, marking the highest Thanksgiving haul in cinematic history.
Historically, Thanksgiving has been a critical time for the film industry. According to Comscore data, box office receipts had not surpassed $200 million since 2019, making this year’s record-breaking earnings all the more notable.
Wicked and Gladiator Continue Their Magical Run
Alongside Moana 2, Universal’s Wicked kept up its magical run, bringing in $117.5 million in ticket sales over the holiday. This pushed the film’s domestic total to $262.42 million, making it the highest-grossing Broadway adaptation in domestic box office history. On a global scale, Wicked has already amassed an impressive $359.2 million within just 10 days of release.
Similarly, Paramount’s Gladiator II contributed $44 million to the holiday weekend’s total. The epic sequel has earned $111.2 million domestically over its first 10 days in theaters. Its international release has also been strong, pushing the film’s global earnings to $320 million.
Is Disney Stock a Buy or Hold?
Turning to Wall Street, analysts have a Strong Buy consensus rating on DIS stock based on 15 Buys and five Holds assigned in the past three months, as indicated by the graphic below. After a 28.7% rally in its share price over the past year, the average DIS price target of $124.29 per share implies 5.8% upside potential.
