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