World Wrestling Entertainment Inc. (NYSE:WWE) Given Average Rating of “Buy” by Analysts
Shares of World Wrestling Entertainment Inc. (NYSE:WWE) have received an average recommendation of “Buy” from the eleven research firms that are currently covering the stock. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $21.55.
WWE has been the subject of a number of research reports. Pacific Crest reissued a “buy” rating and set a $22.00 target price (up from $21.00) on shares of World Wrestling Entertainment in a research report on Thursday, June 16th. Zacks Investment Research raised shares of World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Tuesday, July 19th. TheStreet downgraded shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a report on Friday, July 29th. KeyCorp cut their price objective on shares of World Wrestling Entertainment from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, June 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of World Wrestling Entertainment in a report on Wednesday, June 29th.
World Wrestling Entertainment (NYSE:WWE) traded down 2.07% during mid-day trading on Friday, hitting $20.37. 106,229 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $20.60 and its 200-day moving average price is $18.76. World Wrestling Entertainment has a 12 month low of $14.20 and a 12 month high of $21.55. The stock has a market cap of $1.56 billion, a PE ratio of 65.50 and a beta of 0.76.
World Wrestling Entertainment (NYSE:WWE) last released its earnings results on Thursday, July 28th. The company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.02. World Wrestling Entertainment had a net margin of 3.40% and a return on equity of 13.38%. The company had revenue of $199 million for the quarter, compared to the consensus estimate of $182.56 million. During the same period in the prior year, the company earned $0.07 earnings per share. The firm’s revenue was up 32.5% on a year-over-year basis. Equities analysts expect that World Wrestling Entertainment will post $0.48 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 26th. Stockholders of record on Thursday, September 15th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.48 annualized dividend and a dividend yield of 2.31%. World Wrestling Entertainment’s payout ratio is 154.84%.
In related news, insider Michael J. Luisi sold 7,875 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $21.39, for a total transaction of $168,446.25. Following the completion of the sale, the insider now directly owns 64,175 shares in the company, valued at $1,372,703.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark Kowal sold 6,500 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $20.92, for a total transaction of $135,980.00. Following the sale, the senior vice president now owns 21,072 shares of the company’s stock, valued at $440,826.24. The disclosure for this sale can be found here. Insiders own 55.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in WWE. Mason Street Advisors LLC acquired a new stake in shares of World Wrestling Entertainment during the second quarter valued at about $123,000. Bbva Compass Bancshares Inc. acquired a new stake in shares of World Wrestling Entertainment during the second quarter valued at about $197,000. BNP Paribas Arbitrage SA raised its stake in shares of World Wrestling Entertainment by 99.3% in the second quarter. BNP Paribas Arbitrage SA now owns 11,396 shares of the company’s stock valued at $210,000 after buying an additional 5,678 shares during the period. Sterling Capital Management LLC acquired a new stake in shares of World Wrestling Entertainment during the second quarter valued at about $296,000. Finally, Thrivent Financial for Lutherans raised its stake in shares of World Wrestling Entertainment by 5.5% in the second quarter. Thrivent Financial for Lutherans now owns 16,590 shares of the company’s stock valued at $305,000 after buying an additional 870 shares during the period. Institutional investors own 47.54% of the company’s stock.
World Wrestling Entertainment Company Profile
World Wrestling Entertainment, Inc (WWE) is a media and entertainment company. The Company is engaged in the production and distribution of content through various channels, including its WWE Network, television rights agreements, pay-per-view event programming, live events, feature films, licensing of various WWE themed products, and the sale of consumer products featuring its brands.
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