Walt Disney shares fall as CEO updates on FY EPS expectations
Investing.com - Shares of Walt Disney Company (NYSE:DIS) were falling on Thursday, with investors contending with the company’s full-year EPS estimate and the potential for a rare closure of Walt Disney World Resort in Florida due to Hurricane Irma.
According to CNBC, while speaking at the Bank of America Merrill Lynch (NYSE:BAC) 2017 Media, Communications & Entertainment Conference, Walt Disney Co. Chief Executive Bob Iger said the company’s earnings per share for this year will roughly be in line with what it reported last year. Last year, Walt Disney earned $5.72 per share. This year, analysts have pegged full year EPS at $5.88.
Meanwhile, there is the possibility that Walt Disney World Resort in Florida may close due to Hurricane Irma. While the facility is currently open, the company said that it will allow people to reschedule or cancel most reservations without penalty if a hurricane warning is issued for the Orlando area within seven days of the traveler’s scheduled arrival. The company added that it is monitoring the path of Hurricane Irma.
Disney's shares were down 4% in early afternoon trading.
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