Disney shares are down 50% over two years, but analysts see some signs of improving trends
Media stocks have had a rough run lately, and Walt Disney Co. is a poster child, with its shares off more than 50% over the past two years.
“Disney’s actions to reduce expenses and production spend, while lagging the negative revisions in revenue, should help improve cash flow and margins in FY 2024 and beyond,” Nathanson wrote following Disney’s latest earnings call. Wells Fargo’s Steven Cahall also wrote that he thought earnings estimates would move higher on the heels of cost-cutting announcements and new segment strategies.
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