×
You will be redirected back to your article in seconds

Disney Stock Hits All-Time High in May

'Iron Man 3' and second quarter results boost Disney's shares.

Disney’s stock hit an all-time high of $66.07 on Tuesday as better-than-expected results during the company’s second quarter propped up Mouse House shares.

Shares in Disney are up 33% so far this year. They also rose nearly 33% during all of 2012. The stock closed up $1.01 on Tuesday, gaining 1.55%, but shares lost much of their gains after the bell, losing $0.87 or 1.32%.

“We are pleased with a stock price that keeps reaching new highs,” said Walt Disney Co. CEO and chairman Bob Iger during a conference call with analysts on Tuesday.

Still the stock’s expected to reach even higher levels in 2013, based on calls from analysts which put a new price target on Disney shares to $72 from $55 late last month. At the time, UBS analyst John Janedis said the company’s potential for earnings growth is “underappreciated by the market.”

Disney’s value rose as the Dow Jones Industrial Average closed above 15,000 for the first time in its history, also on Tuesday, finishing the day at a record 15,056.2. The Dow is up 14.9% so far this year.

Overall, Disney reported profits of $1.51 billion, a gain of 32%, on a 9.6% gain in revenue of $10.55 billion during its second quarter that ended March 30. Company now has a market cap of $119.28 billion.

Stock’s recent performance also is in reaction to the $175.3 million domestic bow of Marvel Studio’s “Iron Man 3,” the highest domestic opening weekend on record second only to last summer’s “The Avengers.” Film has cumed $711 million worldwide so far, helping Disney cross the $1 billion mark at the global box office for 2013 for the 19th consecutive year, and the fastest it has ever done so.

In addition to “Oz the Great and Powerful, which was a big hit during the second quarter, and “Iron Man 3,” Disney will also release “Monsters University,” “The Lone Ranger” and “Planes,” this summer and has “Thor: The Dark World” later this year.

More Biz

  • Young ThugBillboard Hot 100, Day 2,

    Travis Scott Remix Drives Young Thug’s ‘Hot’ to No. 1 on Rolling Stone Top 100

    Driven by a remix featuring Travis Scott, Young Thug’s single “Hot” has roared to the top of the Rolling Stone Top 100 this week. The song racked up more than 20 million audio streams and 3,700 downloads. Also getting a big boost is buzzing artist Arizona Zervas, whose “Roxanne” soared to No. 6 after debuting at [...]

  • Kevin LilesUJA-Federation of New York's Music

    300’s Kevin Liles Joins NY:LON Summit Keynote Roster

    The Music Business Association (Music Biz) and Music Ally today announce that 300 Entertainment cofounder and CEO Kevin Liles will deliver a keynote interview at the fourth annual NY:LON Connect music business summit. The conference takes place January 16 – 17, 2020 at the Dream Downtown Hotel in New York. According to the announcement, Liles [...]

  • Warner Bros. HQ LA

    Small Brush Fire Breaks Out Above Warner Bros. Lot in Burbank

    UPDATED: A small brush fire broke out in the Hollywood Hills above the Warner Bros. studio lot in Burbank, Calif., causing the Warner Bros. lot to evacuate as a precaution, before its forward progress was stopped at around 5 p.m. Saturday. According to the LAFD, fire crews are working on putting out the “still active [...]

  • Woody Allen

    Woody Allen Settles $68 Million Suit Against Amazon

    Woody Allen has settled his breach of contract lawsuit against Amazon, which canceled a four-picture deal with the filmmaker amid the #MeToo movement. Allen’s attorneys and lawyers for Amazon filed a joint notice dismissing the case on Friday night. Terms of the settlement were not disclosed. Allen filed suit in February, alleging that Amazon had [...]

  • Scott Stuber, Ron Howard are seen

    Netflix's Scott Stuber: Film Biz Needs to 'Be Calm and Talk Through' Exhibition Disputes

    Netflix film chief Scott Stuber urged film producers and exhibitors to come together to reach a consensus on exhibition window disputes as Netflix and other streaming giants move forcefully into feature production. Stuber, Netflix’s VP of film, spoke Saturday morning at the Producers Guild of America’s Produced By NY conference in a wide-ranging Q&A with [...]

  • Donald Trump Hollywood Racism

    President Trump Bashes Report of Talks With Mark Burnett for New 'Apprentice' Series

    President Donald Trump took to Twitter on Saturday morning to blast as “fake news” a report earlier this week that he is planning to develop a TV series with “The Apprentice” creator Mark Burnett following his time in the White House. On Thursday, the Daily Beast reported that Trump has been talking to Burnett, a [...]

  • BMG Music

    BMG Announces Move to Bigger Digs in L.A., Following Nashville and NYC Relocations

    Less than two months after announcing a planned move to a bigger and better facility in Nashville, BMG has declared plans to do the same in Los Angeles, with a deal in place to develop a two-story, 30,000-square-foot facility in the Miracle Mile district. It won’t be a long move: the location for the “proposed” [...]

More From Our Brands

Access exclusive content