Disney's Film Success Keeps Company In 'Beast' Mode

Walt Disney Co (NYSE: DIS)'s latest smash-hit film, the live-action "Beauty and the Beast," is keeping some analysts bullish on the company's stock outlook.

According to Deadline, the film realized $174.75 million in ticket sales during the opening weekend, which also makes the film the best sixth best movie opening ever. In fact, the film is tracking notably ahead of Disney's own expectations for the opening weekend of $120 million to $130 million.

Nomura: Disney In 'Beast Mode'

Pardon the pun, but Anthony DiClemente of Nomura commented in a research report on Tuesday that Disney remains in "beast mode."

The analyst stated that Disney's strong opening weekend performance of the live action remake of the classic story justifies an upward revision in Disney's estimates. Specifically, Disney's 2017 fiscal second-quarter and full-year earnings per share estimates were raised to $1.37 and $5.92, respectively. This compares to a prior estimate of $1.36 per share in the quarter and $5.89 per share in the full year.

The analyst also raised his fiscal 2018 earnings per share estimate from $6.62 to $6.71.

"Given the Studio's structural advantages and robust library IP, we believe Studio results are incrementally visible," the analyst wrote.

Shares of Disney were maintained with a Buy rating with a price target boosted to $125 from a previous $120.

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Image Credit: By mydisneyadventures (Flickr: Beast and Princesses) [CC BY 2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons

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