Like the storyline surrounding its fairy tales, Cinderella has Walt Disney Co (NYSE:DIS) smiling happily. The recent release Cinderella movie has topped all comers at the box office. The movie, an adaptation to the 1950 original Disney film has caused a rise in Disney’s stocks. At the close of trading on Monday the company’s shares rose to $107.37, increase of 0.87%. Sales figures for the movie’s opening weekend stood at $70.1 million in the US alone. Globally the film continues to make magic as it grossed in $132 million according to Variety reports.
The Cinderella remake came after a move by Disney to revisit its archives to transform classical tales to animated movies. A move that Cinderella has vindicated based on its brilliant showing at the box office thus far. According to Variety, the company is looking forward to the release of animated films for other classic stories such as Dumbo and Beauty and the Beast. The Company is currently riding high, and Cinderella’s performance comes on the back of last week’s announcement surprising announcement. The company announced that it is planning to turn its popular Frozen film into a sequel.
Interestingly though, BTIG a research company, downgraded the company to neutral from buy. Surely in light of the recent occurrences even my eyebrows have been raised. This is not cause for alarm as opinions of Disney’s shares are divided amongst analysts. TheStreet rating team, on the other hand, rates the company’s shares a buy and has attributed a rating of A+ to Disney. The analyst further reads that Disney’s revenue has been outperforming the industry average increasing by 8.8%; compared to the industry’s average of 7.7%. Also, the company improved its earnings per share by 23.3% for the most recent quarter also when compared to last year’s corresponding period. Overall the positive figures for the company have driven up its shares by 31.69% over the past year. The future looks like a fairytale ending for Walt Disney Co (NYSE:DIS).