×
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.

Popular on Variety

More Biz

  • Overall View of the Rose Bowl

    One Dead, One Injured in Rose Bowl Parking Lot Shooting

    One person was killed and another was injured Saturday night following a shooting in a Rose Bowl parking lot, the Pasadena police confirmed. According to a statement from the police department, police responded to reports of a physical altercation and shots fired at 11:22 p.m. near the area of Arroyo Boulevard and Seco Street, where [...]

  • Felicity Huffman

    Felicity Huffman Issues Apology After Receiving Prison Sentence: 'There Are No Excuses'

    Felicity Huffman issued a long statement of apology on Friday after receiving a two-week prison sentence for paying to illegally boost her daughter’s SAT score. In the statement, Huffman, in addition to saying  she accepts the court’s decision, acknowledges and apologizes to other parents fighting to get their children into college. Along with the prison [...]

  • Actress Felicity Huffman (C-L) and her

    Felicity Huffman Sentenced to 14 Days in Prison in SAT Cheating Case

    Felicity Huffman was sentenced on Friday to 14 days in prison for the crime of paying $15,000 to boost her daughter’s SAT score. Judge Indira Talwani also ordered her to serve 250 hours of community service and a year of probation, and pay a $30,000 fine. The sentence came as a surprise, as Talwani had [...]

  • NEW YORK, NEW YORK - SEPTEMBER

    Rihanna Sings (Briefly), Pharrell and DJ Khaled Rock the Mic at Star-Studded Diamond Ball

    In just five years, Rihanna’s Diamond Ball has become one of the music industry’s biggest events of its kind, nearly on the level of the Clive Davis Pre-Grammy Gala. While there are several dazzling charity events with equal starpower and often-unique performances, what makes the Diamond Ball different is, obviously enough, Rihanna’s supernova aura and [...]

  • Amber Heard Seeks Info on Johnny

    Amber Heard Seeks Info on Johnny Depp's Arrests and Substance Abuse

    Amber Heard is asking Johnny Depp to turn over records related to his arrests and drug treatment, as her lawyers defend her from a $50 million defamation suit. Depp filed suit in March, accusing his ex-wife of tanking his career by writing a Washington Post op/ed alluding to her domestic violence allegations against him. Heard [...]

  • David Nevins, Chief Creative Officer, CBS

    David Nevins: CBS-Viacom Merger to Create 'Virtuous Eco-System' for Content

    CBS and Viacom leaders are looking for opportunities to create a “virtuous eco-system” for content that can prosper across the various platforms of the two companies that are set to merge by year’s end. That was the sentiment shared by David Nevins, chief creative officer of CBS and chairman-CEO of Showtime Networks, during a Q&A [...]

More From Our Brands

Access exclusive content