Jim Cramer on Walt Disney: "I Thought it Should Be at $120"

The Walt Disney Company (NYSE:DIS) is one of the stocks Jim Cramer was focused on recently. Inquiring about the stock, a caller mentioned an increased attendance at the theme parks and made a note of “good management changes” at the company. In response, Cramer said:

“Okay, I think at this level… It’s good. I did speak a lot with Jeff Marks about it. I expressed some displeasure today, saying, ‘Oh my god, it’s still at $111. I thought it should be at $120.’ I think it gets to $120. At $120, we’re going to have to reconfigure and rethink.”

The Walt Disney Company (NYSE:DIS) creates and distributes film, television, and streaming content. Additionally, the company operates theme parks, resorts, and cruise lines, and also licenses its characters and franchises. Cramer discussed the stock during the August 6 episode. He remarked:

“But then there’s the other side of the trade, stocks that just go begging because there’s no narrative that can attract attention. Take Disney. The company made a major deal with the NFL last night on the eve of earnings that were usually positive, but no one cared. Disney reported a nice beat and raise, one that should have sent the stock flying, but no. Because it didn’t raise its earnings forecast enough, the stock got hit. Disney beat the earnings estimates by 14 cents, but it didn’t pass all that beat on to the full year guidance. That’s deadly, suicidal even. It’s an implicit cut to the forecast. You have to raise your full-year earnings guidance at least as much as you beat the quarter, or your stock is just going to get clubbed. It didn’t need to be that way, but management played it safe. Safety took a vacation.”

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Disclosure: None. This article is originally published at Insider Monkey.