Is Walt Disney Co. Losing Its Magic?
Disney (NYSE: DIS) shares recently dipped below $100 for the first time this year, after the House of Mouse warned that its full-year earnings would be roughly flat and miss analyst estimates for 3% growth. Meanwhile, Hurricane Irma's approach forced Disney to close Disney World in Orlando, which generates about $30 million in revenue daily.
Jefferies analyst John Janedis projected a three-day closure, which would result in $90 million in lost revenue excluding storm-related damages. All that bad news caused Disney to drop to fresh lows for the year, causing many investors to wonder if the stock has lost its magic.
Shanghai Disney Resort. Image source: Disney.
Source: Fool.com
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