Shares of World Wrestling Entertainment, Inc. (NYSE:WWE) have received an average recommendation of “Buy” from the fifteen analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $99.17.
Several research analysts have weighed in on WWE shares. Morgan Stanley cut their price target on World Wrestling Entertainment from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Evercore ISI started coverage on World Wrestling Entertainment in a report on Wednesday, September 4th. They issued an “outperform” rating and a $90.00 price target for the company. Benchmark upgraded World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a report on Friday, July 26th. ValuEngine upgraded World Wrestling Entertainment from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. Finally, Rosenblatt Securities started coverage on World Wrestling Entertainment in a report on Wednesday, August 14th. They issued a “buy” rating and a $85.00 price target for the company.
In other news, Director Patricia A. Gottesman sold 4,112 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $72.92, for a total transaction of $299,847.04. Following the completion of the sale, the director now directly owns 20,644 shares in the company, valued at approximately $1,505,360.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider George A. Barrios sold 74,678 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $70.06, for a total value of $5,231,940.68. The disclosure for this sale can be found here. Insiders sold a total of 255,047 shares of company stock valued at $17,794,397 over the last quarter. 43.90% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of World Wrestling Entertainment during the 2nd quarter worth $97,000. Ladenburg Thalmann Financial Services Inc. boosted its position in World Wrestling Entertainment by 13.9% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,831 shares of the company’s stock worth $130,000 after purchasing an additional 224 shares during the period. Piedmont Investment Advisors Inc. purchased a new stake in World Wrestling Entertainment during the 1st quarter worth $214,000. AMP Capital Investors Ltd purchased a new stake in World Wrestling Entertainment during the 2nd quarter worth $218,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in World Wrestling Entertainment by 11.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,032 shares of the company’s stock worth $219,000 after purchasing an additional 309 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.
Shares of WWE opened at $73.10 on Wednesday. World Wrestling Entertainment has a twelve month low of $58.50 and a twelve month high of $100.45. The stock’s 50 day moving average is $71.27 and its two-hundred day moving average is $78.97. The firm has a market capitalization of $5.80 billion, a PE ratio of 65.27 and a beta of 1.33. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.13.
World Wrestling Entertainment (NYSE:WWE) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.14. The business had revenue of $268.90 million for the quarter, compared to analyst estimates of $271.21 million. World Wrestling Entertainment had a return on equity of 23.92% and a net margin of 8.42%. The company’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.11 EPS. On average, sell-side analysts predict that World Wrestling Entertainment will post 0.99 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Friday, September 13th will be issued a $0.12 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.48 annualized dividend and a yield of 0.66%. World Wrestling Entertainment’s dividend payout ratio (DPR) is presently 42.86%.
World Wrestling Entertainment Company Profile
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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