NEW YORK (TheStreet) -- Walt Disney's (DIS) - Get Report newest animated film, The BGF, brought in $22.3 million over the holiday weekend which could place the movie as a significant box office flop, CNBC's Kelly Evans said on "Squawk Box" this morning.
The film had a $140 million budget.
Audiences did not want to follow director Steven Spielberg down this path to watch The BFG and there was a lot of competition from Disney Pixar's Finding Dory which has been a box office hit for three weeks now, BoxOffice Pro Editorial Director Daniel Loria told CNBC.
"That's usually not a good sign for a film opening up in the summer," Loria said.
Observations like the color palette of the film can make a big difference in how appealing it seems to the audience. Finding Dory's light blue colors which are more cheerful appealed to the audiences more than The BFG's, he explained.
"When you're deciding what to watch, you're going to go with what seems a little more appealing to you at the moment," he said.
Summer movie ticket sales are down 55.7% compared to ticket sales this time last year, according to Box Office Mojo.
Disney shares are trading down 0.45% to $97.59 on Tuesday morning..
Separately, TheStreet Ratings team has this stock as a "buy" with a ratings score of A-.
The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, notable return on equity, expanding profit margins and good cash flow from operations. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: DIS