Investing Club: Wells Fargo gives a bullish endorsement to a beleaguered Disney. We need to see more from Iger
Wells Fargo on Tuesday said it expects Walt Disney to "come out swinging" when the entertainment conglomerate reports fiscal first-quarter results early next month. At the Club, we're slightly more cautious and will be looking closely for a detailed turnaround plan from CEO Bob Iger. When Disney releases its first-quarter earnings on Feb. 8, analysts expect earnings-per-share to come in at 80 cents a share, down 24.
" Disney's board earlier this month unanimously decided against offering Peltz a seat, according to a recent SEC filing. Trian currently holds a nearly $1 billion stake in Disney. Like other investors — including the Club — Trian has expressed frustration over Disney's streaming losses, overspending and a share price decline of more than 44% last year. Shares of Disney have climbed by more than 21% since the start of 2023.
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