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Summary
- Stocks of The Walt Disney Company and Cineplex Inc are currently trending high on the stock markets.
- The movement comes in the wake of both the companies releasing their financial results on Thursday.
- Disney stocks shot up by nearly 14 per cent in February, while
Cineplex scrips grew 21 per cent this year.
Stocks of The Walt Disney Company (NYSE:DIS, DIS:US) and Cineplex Inc (TSX:CGX) are currently trending high on the stock markets. The movement comes in the wake of both the companies releasing their financial results on Thursday, February 11.
Let’s take a quick peek at Walt Disney and Cineplex’s latest financials and stock performances.
The Walt Disney Company (NYSE:DIS, DIS:US)
Disney stocks shot up by nearly 14 per cent month-to-date (MTD). The entertainment stock ballooned by nearly 39 per cent in the past three months and by about 35 per cent in the last one year.
Disney, with a market cap for US$ 346.36 billion, holds a 10-day average movement volume of 10.7 million. Its price-to-book ratio is 4.14 and its price-to-cashflow ration is 45, as per the TMX website.
Walt Disney’s Q1 FY21 Financial Results
The Walt Disney Company, a media and entertainment conglomerate, saw its diluted earnings per share (EPS) plummet by 98 per cent year-over-year (YoY) to US$ 0.02 in Q1 FY21. Its income before taxes dwindled by 98 per cent YoY and its revenue was down by 22 per cent YoY to US$ 16.24 billion in the first fiscal quarter ending 2 January 2021.
Disney said that the latest quarter was “adversely impacted” by the persistent pandemic, which continued to have “significant impact” on the operations of its theme parks, experiences and products segment.
The company, however, recorded a substantial growth in its paid streaming customer base, reaching more than 146 million subscriptions across its streaming services by the end of Q1 FY21.
©Kalkine Group 2021
Cineplex Inc (TSX:CGX)
Cineplex, currently trending among top communications stocks on the TSX, saw its scrips rise by about 21 per cent year-to-date (YTD).
The Canadian movie theatre chain’s business shriveled during the pandemic as cinema halls were one of the first recreational spots to get a temporary ban. Its stock price, too, nosedived amid the March market crash and is yet to rebound to its pre-COVID levels.
Cineplex shares, however, currently reflect a growth of almost 60 per cent for the past three months and of about 39 per cent for the last six months.
Cineplex’s Q4 2020 and Full-Year 2020 Financial Results
As most regions in Canada re-enforced COVID-19 measures amid the second wave, many of Cineplex’s theatres went under lockdown again near the end of last year. This, in turn, inflected a “prolonged negative impact” on the company’s operations. Additionally, reopening delays in its US and other international businesses, shifts in movie release dates, etc. also effected Cineplex’s performance for Q4 2020.
Cineplex’ annual revenue stood at C$ 52.5 million last year, down by a significant margin of 82.2 per cent YoY. It recorded a theatre attendance of 0.8 million in the whole of 2020, down by a whopping 95.3 per cent YoY.
Cineplex incurred a net loss of C$ 230.4 million in 2020, as against an annual net income of C$ 3.5 million.
