![]() “If indeed Disney takes a $100 million write-down on the film, that would equate to a charge to earnings of approximately 4 cents per share, bringing our quarterly core earnings per share estimate from 84 cents to 80 cents.” analyst David Miller said the film’s box office had exceeded his very low forecast, “beating our estimate of $40 million, but still a massive disappointment relative to the film’s net negative cost, which was never formally disclosed by Disney, but which we believe was well in excess of $200 million.”īut Miller said the bigger impact on Disney will be limited. PHOTOS: The Lone Ranger and Tonto Through the Years Still, Crockett continues to rate Disney’s stock a “buy,” saying that “Disney is an investment in the resilience of ESPN, execution in one of the world’s leading parks and resorts operations, and Disney’s recurring ability to create and monetize family content globally.” That could mean an additional 3 cents per share downside to Disney’s earnings, he said. ![]() “It was the weekend’s lone misfire, and based on our math, could be pacing for a $190 million write-off.” He had previously predicted a loss of $113 million on the film. “Many investors had been skeptical about Disney’s Lone Ranger reboot. Lazard Capital Markets analyst Barton Crockett in his investor update used the headline “Lonely Ranger” and predicted a possible write-down closer to John Carter’s. “Even with some benefit from Johnny Depp overseas, the Jerry Bruckheimer-produced film is now apt to generate a $150 million vicinity write-off for Disney - still less than John Carter‘s $200 million.” “ The Lone Ranger opened to only $48.9 million for the full period, versus the $60 million vicinity that had been expected prior to this week,” he wrote in a report. Wunderlich Securities analyst Matthew Harrigan predicted a write-off in that same range, highlighting that it would come in below the company’s big loss on John Carter last year. PHOTOS: Johnny Depp at 50: The Superstar’s Life and Career in Pictures
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