DIS - 5 Reasons to Buy Disney Stock Like There's No Tomorrow
2023-12-14 10:15:00 ET
The good news is that Walt Disney (NYSE: DIS) is no longer trading lower this year. The bad news is that shares of the entertainment giant are only 7% higher in 2023 through Wednesday's close, still losing sorely to the bubbly market.
Investors aren't exactly impressed with the House of Mouse these days. Analyst profit targets have been heading lower in recent weeks, contrasting the buoyancy in more popular stocks. Analysts see revenue climbing a mere 4% for this new fiscal year as well as 2025. However, things can -- and ideally should -- change. Let's go over some of the reasons why now might be a great time to buy Disney stock like there's no tomorrow.
Compare Disney's fundamentals today to what they were when the stock peaked nearly three years ago at more than double today's price and it's as goofy as, well, Goofy. Revenue has soared 36% in that time, and the profitability picture is even brighter. Disney stock is trading for a reasonable 21 times this new fiscal year's projected net income. The multiple drops to less than 18 if you look out to next year's analyst consensus.
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5 Reasons to Buy Disney Stock Like There's No Tomorrow