Global entertainment giant Walt Disney (NYSE:DIS) is seeing fewer visitors to its theme parks in the U.S., according to the Wall Street Journal.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
The company recently saw one of its most lackluster Independence Day Weekends in years and Disney has been anticipating lower earnings from theme parks this year. At the same time, Disney is also fighting multiple fires with a legal showdown in Florida, tepid streaming numbers, and changes at the top rung.
The WSJ adds that visitors are seeing lower waiting times for rides. At the same time, Disney has also been aiming at a lower number of visitors who would end up forking out more at its parks. The company has in recent times hiked admission fees while doing away with freebies.
Further, as Disney offers multiple promotions and discounts to visitors, some could be holding off in anticipation of even higher savings over the coming periods.
Overall, the Street has a $121.47 consensus price target on DIS alongside a Moderate Buy consensus rating. Shares of the company have dropped nearly 6.5% over the past six months.
Read full Disclosure