You don't need a penny for Walt Disney's (DIS -0.89%) thoughts. Shares of the media giant rose by a single cent -- going from $96.19 to $96.20 -- in October. After losing ground for five straight months, Disney stock has inched higher in back-to-back months. Can it keep the winning streak going in November?
This should be a lively month for the House of Mouse. Disney reports telltale earnings. It also has two ways to score at the box office after taking a few well-deserved months off. Let's take a look at some of the upcoming events that could move Disney shares this month.
Nov. 14
Disney is reporting its fiscal fourth-quarter results in two weeks. A lot is riding on the update. There's been a shift in what's fueling growth at the entertainment giant. It's no longer its theme parks that carry the company. Its domestic gated attractions have meandered in recent quarters. Disney's streaming business, which was generating massive losses, posted an operating profit in its fiscal third quarter. Disney's movie studios, which languished in 2023, recovered this summer.
Analysts see another quarter of meager top-line growth with hearty bottom-line improvement. They expect Disney to clock in with $22.4 billion in revenue for the three months ending in September, a 6% year-over-year uptick. Earnings per share is projected to jump 34% to $1.10. It's a high bar for Disney on the bottom line, but it has consistently posted double-digit percentage earnings beats over the past year.
Image source: Disney.
Nov. 15
Disney hasn't had a theatrical release since Alien: Romulus hit a multiplex near you in mid-August. You won't find investors complaining. The two films it released earlier -- Inside Out 2 in June and Deadpool & Wolverine in July -- continue to be the highest-grossing films of the year, domestically and worldwide.
It should have another blockbuster in November, but it won't be the one it releases first. A Real Pain is generating positive buzz since premiering at the Sundance Film Festival earlier this year. Disney's Searchlight Pictures outbid rival studios to acquire the worldwide rights to the film coming out of the festival. Disney has bumped the film's release date twice, but this one should stick.
Jesse Eisenberg wrote, directed, and starred in the movie. It's a buddy film about two very different cousins who embark on a tour of Poland to honor their grandmother. It's more indie film than tentpole fodder, but it's a win for Disney if it winds up being a cult hit.
Nov. 27
As big as Inside Out 2 and Deadpool & Wolverine were for Disney, Moana 2 should be even more successful at the box office. Disney was initially working on this as a Disney+ series, but early results were so encouraging that it decided to make it a theatrical-length feature film.
You can quantify the anticipation. The first trailer promoting the film received 200 million views in its first 24 hours of availability, a record for a Disney animated movie.
The sequel to 2016's Moana is expected to open strongly over the seasonally potent Thanksgiving holiday weekend. Where it goes from there will depend on word of mouth. It's the first of a few likely blockbusters Disney will push out to theaters in fiscal 2025.
The media stock has silenced concerns about its studio business over the summer. It's time to see whether it can take things to the next level. The Moana franchise knows a thing or two about riding waves. A live-action version is currently slated to come out in 2026.
