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Investing.com - Walt Disney (NYSE:DIS), the $198 billion entertainment powerhouse with a perfect InvestingPro Piotroski Score of 9, showed mixed theme park attendance trends in September, according to KeyBanc Capital Markets, which maintained its Sector Weight rating on the stock.
Total Disney theme park attendance for September was flat year-over-year and declined 11% month-over-month, KeyBanc analyst Brandon Nispel reported in a research note. Disneyland attendance increased 4% year-over-year while declining 10% month-over-month, while Walt Disney World attendance was flat compared to last year and fell 11% from August. These attendance figures are particularly significant given Disney’s $94.5 billion in annual revenue, with parks contributing substantially to its $19.5 billion EBITDA.
Walt Disney World’s performance showed signs of recovery, with results accelerating by 3 percentage points from August. Disneyland posted its third consecutive month of 4% year-over-year growth, continuing to benefit from the 70th anniversary celebration that began in May.
For the third calendar quarter, overall attendance was flat year-over-year, compared to 2% growth in the second quarter. This decline was attributed to a slowdown in Walt Disney World attendance, which fell 1% year-over-year versus 2% growth in the previous quarter, offset by Disneyland’s acceleration to 4% year-over-year growth compared to 2% in the second quarter.
KeyBanc forecasts Disney’s fiscal fourth-quarter domestic experiences revenue to grow 4.9% year-over-year, below the consensus estimate of 7.1% and slower than the 10% growth recorded in the fiscal third quarter. The firm expects domestic attendance to decelerate to a 1% decline in the fiscal fourth quarter from flat performance in the previous quarter, with per-capita guest spending growth slowing to 6% from 8%. According to InvestingPro analysis, Disney currently appears undervalued, with 8 additional exclusive insights available to subscribers, including detailed valuation metrics and growth projections. Get the full picture with InvestingPro’s comprehensive research report, part of their coverage of 1,400+ top US stocks.
In other recent news, The Walt Disney Company has made several noteworthy announcements. Disney has extended the contract of Sonia L. Coleman, Senior Executive Vice President and Chief People Officer, through June 30, 2028, while also updating her compensation terms. Her annual base salary will be raised to $1,000,000 starting September 27, 2025, with a target annual bonus opportunity set at 175% of her base salary from fiscal year 2025. Additionally, Disney plans to increase the price of its Disney Plus streaming service effective October 21, with the ad-supported plan rising to $11.99 per month and the ad-free Premium plan increasing to $18.99 monthly.
Goldman Sachs has reiterated its Buy rating on Disney stock, anticipating an earnings per share beat in the upcoming report, with a forecast of $1.19 EPS compared to the consensus of $1.04. The investment bank attributes this to strong performance in the Direct-to-Consumer segment and domestic parks, projecting 2% year-over-year domestic attendance growth. Needham has also reiterated its Buy rating, highlighting strategic changes for Disney’s broadcast operations, including a recommendation to simulcast ABC content on Hulu. Furthermore, Disney announced that Jimmy Kimmel Live! will resume after a suspension due to controversial comments made about Republican activist Charlie Kirk.
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