Walt Disney shares fall for a second straight session on Monday, “Frozen II” becomes the highest-grossing animated movie ever produced

Walt Disney’s “Frozen II” on Sunday became the top animated movie at the global box office of all time, as it has earned $1.32 billion since its launch in November.

Walt Disney shares closed lower for a second consecutive trading session in New York on Monday. The stock went down 0.58% ($0.85) to $145.65, after touching an intraday low at $144.31, or a price level not seen since December 31st ($143.26).

Shares of Walt Disney Company have risen 0.71% so far in 2020 compared with a 0.48% gain for the benchmark index, S&P 500 (SPX).

In 2019, Walt Disney’s stock went up 31.90%, thus, it again outperformed the S&P 500, which registered a 28.88% gain.

“Disney’s box-office hot streak continues into 2020 as ‘Frozen II’ surpasses the first installment to become the highest grossing animated film of all-time and continues to charm enthusiastic audiences, adults and kids alike, around the world,” Paul Dergarabedian, senior media analyst at Comscore, was quoted as saying by CNBC.

“Frozen II” has so far earned $449.9 million in the United States and $875.3 million across the globe.

“Frozen II” has become the sixth movie from the studio, along with “Captain Marvel,” “Aladdin,” “The Lion King,” “Avengers: Endgame” and “Toy Story 4” to surpass the $1 billion mark this year, while “Star Wars: The Rise of Skywalker” is soon expected to become the seventh one.

The three highest-grossing animated releases ever produced are now all movies by Disney. “Frozen” earned $1.28 billion during its run in 2013 and 2014, while “Incredibles 2” generated $1.24 billion in ticket sales in 2018.

Analyst stock price forecast and recommendation

According to CNN Money, the 24 analysts, offering 12-month forecasts regarding Walt Disney’s stock price, have a median target of $160.00, with a high estimate of $175.00 and a low estimate of $120.00. The median estimate represents a 9.85% upside compared to the closing price of $145.65 on January 6th.

The same media also reported that at least 20 out of 27 surveyed investment analysts had rated Walt Disney’s stock as “Buy”, while 7 – as “Hold”.