Analysts Slash Disney Earnings Estimates

Walt Disney Co. will earn less than expected in the fiscal fourth quarter and full year because of weakness in its overseas consumer products division and sluggish theme park attendance, analysts said.

At least three analysts this week slashed their forecasts for the quarter, fiscal 1998 and 1999, the latest in a series of cuts that Disney has faced in the last few months. That’s helped push Disney stock down as much as 4.9% since Friday.

The cuts partly reflect the effect of Asia’s economic troubles.