Markets closed flat to lower on Monday, primarily due to some heavy last-minute selling. Out of 22 companies we tracked that reported earnings after markets closed, 10 missed revenue expectations and four missed on earnings, while three missed on both. Among stocks announcing results Tuesday morning, another 10 missed revenue estimates.

Four notable earnings reports are due out after markets close Tuesday: Chipotle, Enphase, Global Foundries and Lyft. We also have previewed three firms set to report quarterly results before markets open on Wednesday: Cameco, Canopy Growth and CVS Health.

Here is a look at four firms scheduled to report results after Wednesday’s closing bell.

Disney

Walt Disney Co. (NYSE: DIS) has had a tough year. Over the past 12 months, the Dow Jones industrial average component has posted a share price decline of more than 21%. The stock set a new 52-week low in late January, and its 52-week high will roll off in another month. With business at its theme parks and resorts stuttering, the company’s Disney+ streaming service has had to carry a big load. It couldn’t handle the job in the fiscal fourth quarter, coming up with just 2 million new subscribers. Something more than triple that total is expected for the fourth quarter.

Analysts are mostly bullish on the stock. Of 29 brokerages covering the firm, 21 have a Buy or Strong Buy rating and the rest rate the stock at Hold. At a recent share price of around $142.50, the upside potential based on a median price target of $196 is about 37.5%. At the high target of $263, the upside potential is 84.6%.

First-quarter revenue is forecast at $20.96 billion, up 13.1% sequentially and almost 29% higher year over year. Adjusted earnings per share (EPS) are pegged at $0.63, up 65.8% sequentially and 97% year over year. For the 2022 fiscal year, analysts currently expect Disney to report EPS of $4.06, up 74.5%, on sales of $83.48 billion, up 23.8%.

Disney stock trades at 35.11 times expected 2022 earnings, 25.8 times estimated 2023 earnings of $5.53 per share and 20.9 times estimated 2024 earnings of $6.83 per share. The stock’s 52-week range is $129.26 to $203.02. Disney has suspended its dividend. Total shareholder return for the past year was negative 25%.

Media giant Fox Corp. (NASDAQ: FOXA) has added nearly 31% to its share price over the past 12 months. Fox and the National Football League had a good season, and the league championship game between the Los Angeles Rams and the San Francisco 49ers had the biggest audience for an NFC championship game since 2014. The company’s Fox News channel also closed the year as the top-ranked cable news network.

Analysts are mostly bullish on the stock. Of 24 brokerages covering the firm, 13 have a Buy or Strong Buy rating and 10 more rate the stock at Hold. At a share price of around $40.70, the upside potential based on a median price target of $46.50 is about 14.3%. At the high target of $54, the upside potential is 32.7%.

Fiscal second-quarter revenue is forecast at $4.25 billion, up nearly 40% sequentially and almost 3.9% year over year. Adjusted EPS are forecast at $0.04, down 96% sequentially and 50% lower year over year. For the fiscal year ending in June, analysts currently expect Fox to report EPS of $2.86, down less than 1%, on sales of $13.66 billion, up 5.8%.

Fox stock trades at 13.8 times expected 2022 earnings, 11.0 times estimated 2023 earnings of $3.58 per share and 11.6 times estimated 2024 earnings of $3.40 per share. The stock’s 52-week range is $30.48 to $44.80. Fox pays an annual dividend of $0.48 (yield of 1.18%). Total shareholder return for the past year was 26%.

MGM Resorts

Resort and casino operator MGM Resorts International (NYSE: MGM) has seen its share price rise by about 36% over the past 12 months. Like all casinos and resorts, MGM had a tough year in 2020, and 2021, while much better, has been bumpy.

In a business update released last month, MGM and partner Entain said they expect their BetMGM joint venture to post revenue of $1.3 billion in 2022 and that the partners expect to invest $450 million in new growth projects. BetMGM is targeting a U.S. market share of 20% to 25% in sports betting and internet gambling. Competitor DraftKings’ $22 billion offer for U.K.-based Entain was withdrawn in November.

Sentiment on the stock is fairly bullish, with seven of 16 analysts giving the shares a rating of Buy or Strong Buy and another eight having a Hold rating. At a share price of around $46.60, the upside potential based on a median price target of $53.50 is 14.8%. At the high price target of $74, the upside potential is 58.8%.
The consensus fourth-quarter 2021 revenue estimate is $2.76 billion, up 1.9% sequentially and 87% year over year. MGM is forecast to post adjusted EPS of $0.03, flat sequentially and far better than the year-ago loss of $0.90 per share. For the full fiscal year, analysts are expecting a loss per share of $0.680, much improved over last year’s loss per share of $3.94, on sales of $9.36 billion, up 81.3%.

MGM shares trade at 47.5 times estimated 2022 earnings of $1.71 and 32 times estimated 2023 earnings of $3.07 per share. The stock’s 52-week range is $34.11 to $51.17. MGM pays an annual dividend of $0.01 (yield of 0.02%). Total shareholder return for the past year is 31%.

Uber

Over the past year, shares of Uber Technologies Inc. (NYSE: UBER) have declined by almost 38%. In January, the stock dropped by around 24%. Uber has beaten profit estimates in each of the past four quarters, but only managed to beat revenue estimates in the most recent two quarters. The company is bleeding cash; free cash flow for the past 12 months is negative $1.5 billion. Uber has to turn that around. Maybe Super Bowls ads for Uber Eats starring Gwyneth Paltrow, Trevor Noah and Jennifer Coolidge will do the trick.

Analysts remain staunchly bullish on Uber. Of 45 brokerages covering the stock, 40 give it a Buy or Strong Buy rating and the rest rate it at Hold. At a share price of around $38.30, the potential upside based on a median price target of $65 is nearly 70%. At the high target of $82, the upside potential is 114%.

The consensus revenue estimate for the fourth quarter is $5.36 billion, up 10.6% sequentially and 69% year over year. Uber is expected to post a loss per share of $0.29 in the quarter, compared with a prior quarter loss of $0.07 and last year’s $0.40 per-share loss. For fiscal full 2021, analysts expect a loss per share of $0.96 compared with last year’s $2.86 per share loss, on revenue of $17.06 billion, up 53.1%.

Uber’s stock trades at 33.8 times estimated 2023 EPS of $1.14. The stock’s 52-week range is $32.81 to $64.05. Uber does not pay a dividend. Total shareholder return for the past 12 months is negative 35.3%.

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