Disney (DIS) Surges 3.0%: Is This an Indication of Further Gains?

Walt Disney DIS shares rallied 3% in the last trading session to close at $103.89. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 3.1% loss over the past four weeks.Disney shares are benefitting from strong box office anticipation for Toy Story 5, with the film poised to deliver a meaningful theatrical windfall as it opens this weekend.This entertainment company is expected to post quarterly earnings of $1.89 per share in its upcoming report, which represents a year-over-year change of +17.4%. Revenues are expected to be $25.47 billion, up 7.7% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Disney, the consensus EPS estimate for the quarter has been revised 0.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on DIS going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Disney is a member of the Zacks Media Conglomerates industry. One other stock in the same industry, Tencent Music Entertainment Group Sponsored ADR TME, finished the last trading session 0.5% higher at $8.73. TME has returned -5% over the past month.For Tencent Music Entertainment Group, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.24. This represents a change of +4.4% from what the company reported a year ago. Tencent Music Entertainment Group currently has a Zacks Rank of #3 (Hold).Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks