5 Most Awaited Earnings to Watch in August

1. The Walt Disney Company (NYSE:DIS)

Number of Hedge Fund Holders: 113

The Walt Disney Company (NYSE:DIS) is scheduled to announce the financial results for its fiscal third quarter on Wednesday, August 10, 2022. Analysts are calling for earnings of 94 cents per share on revenue of $21.38 billion.

Meanwhile, some research firms recently trimmed their price target for The Walt Disney Company (NYSE:DIS) ahead of its earnings. Truist cut its price target for the entertainment giant from $135 per share to $125 per share on Tuesday, July 26, 2022. Moreover, Goldman Sachs also lowered its price target for The Walt Disney Company (NYSE:DIS) from $148 per share to $130 per share last week.

Separately, investment management firm Oakmark Funds talked about The Walt Disney Company (NYSE:DIS) in its second-quarter 2022 investor letter, stating:

“Disney (NYSE:DIS) is one of the most beloved consumer companies in the world. Its media business has a rich library of intellectual property, which provides a powerful engine for creating new content across the Disney, Pixar, Marvel, and Star Wars brands. This content also contributes to the success of Disney’s theme parks, which generated nearly half the company’s earnings and grew more than 10% annually in the decade prior to the pandemic. Shares have fallen nearly 50% over the past year as investors worried about the company’s ability to transition its media business to a direct-to-consumer streaming world. This transition has required management to make investments in its Disney+ streaming service that are depressing profitability today. However, we believe these investments will ultimately produce attractive returns as Disney+ continues to grow subscribers and increase pricing over time. As a result, we were able to purchase shares at a substantial discount to our estimate of intrinsic value.”

You can also take a peek at 10 Small-Cap ETFs to Buy Now and Jim Cramer Recommends These 10 Stocks For Recession.

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