Analyst Predicts 40% Lower Disney EPS From Suspended Sports, Shuttered Parks
Disney will incur “unprecedented pain” from COVID-19 “impacts” and the "ensuing" recession, MoffettNathanson's Michael Nathanson emailed investors Tuesday. He’s forecasting a 40% decline in Disney’s earnings per share for fiscal 2020 ending late September and an additional 29% decrease a…
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year later. “The floor dropped” when the coronavirus forced Disney’s U.S. theme parks to close and the NBA and NHL to suspend their seasons, said Nathanson. The analyst thinks Disney’s direct-to-consumer and international businesses will take a hit from recession-induced advertising losses. The stock closed 1.6% lower Tuesday at $93.53.