Here are the earnings estimates, what analysts are saying ahead of the report and the key items to watch. • Walt Disney stock is showing downward pressure. What’s next for DIS stock?Disney Q3 Earnings EstimatesAnalysts expect Disney to report third-quarter revenue of $25.40 billion, up from $23.65 billion in last year’s third quarter, according to data from Benzinga Pro.The company has beaten analyst estimates for revenue in two straight quarters and in six of the past 10 quarters overall.Analysts expect Disney to report quarterly earnings per share of $1.86, up from $1.61 in the past year’s third quarter.The company has beaten analyst estimates for earnings per share in 12 straight quarters.Disney Analyst Ratings and Price TargetsWhile some may see the streaming segment as a strength for Disney, Wells Fargo analyst Steven Cahall recently wrote that exiting the streaming business could boost Disney’s share price by 40%.The analyst maintained an Overweight rating on the stock and lowered the price target from $146 to $125.Cahall said the move would allow Disney to refocus on licensing and content creation, two of its key strengths."We lay out the case for DIS to return to its old biz model of producing versus distributing," Cahall said.The analyst said Disney could earn around $4 billion annually from global licensing rights alone, along with $15 billion or more for the company’s content library. The items together would be a better cash generator than Disney’s direct-to-consumer business, the analyst said.Here are other recent analyst ratings on Disney stock and their price targets: