Box Office Performance Helps The Walt Disney Company (NYSE:DIS) To Move Up

Posted by Kristi Scott December 31, 2013 0 Comment 1032 views

The Walt Disney Company (NYSE:DIS) continued the upsurge even on Monday and gained 2.53% from its previous close. During the session, the stock marked a fresh 52 week high of $76.54 and closed at $76.23. Its 52 week low is of $48.80. The stock traded with significant volume of 8.58 million shares and against its 30 day average volume of 6.28 million shares. The stock has gained close to 5.23% in the last five trading sessions and it seems like The Walt Disney Company is all set to sendoff 2013 with a new high.

The Box Office Performance

The Warner Bros. film The Hobbit: The Desolation of Smaug continued to stall the No. 1 rank cashing more than $29 million over the weekend. The Walt Disney Company’s animated adventure film Frozen was ranked at No. 2 with $28.6 million collection over the weekend. Frozen has grossed more than $248 million over the six weeks at the box office.

Despite ranking at No. 2 in weekend collection, Disney’s Frozen reported stellar 46.9% increase in ticket sales over last weekend, raking in total of $491.9 million in global sales.

Next in line, The Walt Disney Company (NYSE:DIS)’s Saving Mr. Banks remained at No. 6 with weekend collections of $13.45 million. Among other films Paramount’s Anchorman 2: The Legend Continues was at No. 3 and Sony Corporation (ADR) (NYSE:SNE)’s American Hustle was at No. 4 with weekend collections of $19.66 million and $18.70 million, respectively.

The Upgrade

Equity research analysts at Guggenheim upgraded the rating and price objective for the stock of The Walt Disney Company (NYSE:DIS). The research firm now accorded “buy” rating with a price objective of $87 within a year. The upgrade was backed by strong performance of Thor 2 and Frozen as well as positive momentum in Marvel, Pixar and Star Wars brands. Earlier this month, analysts at B. Riley & Co. downgraded the stock from “buy” to “neutral”

About Kristi Scott

Kristi Scott joined GDP Insider in 2005 as a Wall Street reporter for the Business and Market section. Kristi covers the stock market, financial markets and personal finance. Her awards have come from the National Federation of Professional Writers, the Ohio Newspaper Association, the Cleveland Press Club, the Society of Professional Journalists and Suburban Newspapers of America. Kristi was named SNA's national Journalist of the Year

View all post by Kristi Scott Visit author's website

Write Your Comment