World Wrestling Entertainment (WWE) PT Raised to $157.00

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World Wrestling Entertainment (NYSE:WWE) had its price target upped by Wolfe Research from $105.00 to $157.00 in a research report report published on Friday, The Fly reports.

Several other research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of World Wrestling Entertainment from a hold rating to a buy rating and set a $91.00 price objective for the company in a research report on Monday, January 21st. FBN Securities upgraded shares of World Wrestling Entertainment from a sector perform rating to an outperform rating in a research report on Tuesday, November 27th. KeyCorp set a $104.00 price objective on shares of World Wrestling Entertainment and gave the stock a buy rating in a research report on Wednesday, January 23rd. Guggenheim boosted their price objective on shares of World Wrestling Entertainment from $100.00 to $105.00 and gave the stock a buy rating in a research report on Wednesday, November 28th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of World Wrestling Entertainment from $84.00 to $87.00 and gave the stock an overweight rating in a research report on Sunday, December 9th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. World Wrestling Entertainment has an average rating of Buy and an average target price of $99.31.

NYSE:WWE opened at $92.37 on Friday. World Wrestling Entertainment has a 1 year low of $34.69 and a 1 year high of $97.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.33 and a quick ratio of 1.30. The company has a market capitalization of $6.83 billion, a PE ratio of 82.47 and a beta of 1.36.

World Wrestling Entertainment (NYSE:WWE) last posted its earnings results on Thursday, February 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.14. World Wrestling Entertainment had a net margin of 10.71% and a return on equity of 34.02%. The company had revenue of $272.50 million during the quarter, compared to analysts’ expectations of $255.01 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. World Wrestling Entertainment’s quarterly revenue was up 28.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that World Wrestling Entertainment will post 1.24 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Friday, March 15th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Thursday, March 14th. World Wrestling Entertainment’s dividend payout ratio is presently 42.86%.

In other World Wrestling Entertainment news, insider George A. Barrios sold 40,000 shares of World Wrestling Entertainment stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $83.80, for a total transaction of $3,352,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider George A. Barrios sold 60,000 shares of World Wrestling Entertainment stock in a transaction on Monday, January 28th. The stock was sold at an average price of $81.52, for a total transaction of $4,891,200.00. Following the sale, the insider now directly owns 287,103 shares of the company’s stock, valued at approximately $23,404,636.56. The disclosure for this sale can be found here. Insiders have sold a total of 137,500 shares of company stock valued at $10,891,075 in the last ninety days. Company insiders own 43.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WWE. Cerebellum GP LLC acquired a new position in shares of World Wrestling Entertainment in the 4th quarter valued at $71,000. United Services Automobile Association grew its holdings in shares of World Wrestling Entertainment by 15.9% in the 3rd quarter. United Services Automobile Association now owns 7,614 shares of the company’s stock valued at $737,000 after buying an additional 1,046 shares during the period. American Century Companies Inc. grew its holdings in shares of World Wrestling Entertainment by 5.2% in the 3rd quarter. American Century Companies Inc. now owns 137,453 shares of the company’s stock valued at $13,296,000 after buying an additional 6,813 shares during the period. Riverhead Capital Management LLC grew its holdings in shares of World Wrestling Entertainment by 25.5% in the 3rd quarter. Riverhead Capital Management LLC now owns 7,387 shares of the company’s stock valued at $715,000 after buying an additional 1,500 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of World Wrestling Entertainment by 64.8% in the 4th quarter. Rhumbline Advisers now owns 132,166 shares of the company’s stock valued at $9,875,000 after buying an additional 51,957 shares during the period. 63.21% of the stock is owned by hedge funds and other institutional investors.

About World Wrestling Entertainment

World Wrestling Entertainment, Inc, an integrated media and entertainment company, engages in the sports entertainment business in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It operates in three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form media content across various platforms, including WWE Network, pay television, and digital and social media, as well as filmed entertainment.

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Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

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