2021-08-10 • Updated
Disney, the world’s largest family entertainment and media enterprise company, will present its earnings report for the second quarter on August 12 after the stock market closes (23:00 GMT+3). The release will be followed by an investor conference call at 23:30 MT, August 13.
Analysts expect a massive turnaround in Disney’s revenue. The company took losses during the COVID-19 pandemic when its core travels (theme parks, cruises, and hotels) faced closures and capacity restrictions.
As the economic reopening will possibly take longer than it was expected because of rising Delta variant cases worldwide, and Disney's parks coming back to their capacity slowly, investors will also focus on subscriber growth in the entertainment giant's streaming service, Disney+, which was benefiting from the stay-at-home environment.
Daily chart
The moment of truth is coming for Disney’s stock. Price is getting squeezed between 100- and 200-day moving averages as investors and traders await the Q2 earnings report. The RSI and MACD oscillators also show no clarity since both indicators are “flatting” on their averages. Right now, the price has formed 4 significant levels: $192, $184, $170, $154. If Disney overperforms the expectations, the price will rise to $184 and $192. Otherwise, it might drop and close December 2020 gap at $154.
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Despite the positive outlook, the FBS analysts are cautious about buying the stock heading into earnings. The stock market has already experienced a significant run-up. Thus, a correction may happen this week!
Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.
The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
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