World Wrestling Entertainment, Inc. (WWE) Receives Average Rating of “Buy” from Analysts
World Wrestling Entertainment, Inc. (NYSE:WWE) has received a consensus recommendation of “Buy” from the thirteen research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $23.98.
A number of research firms recently weighed in on WWE. Benchmark Co. reaffirmed a “buy” rating and issued a $25.86 target price (up previously from $21.29) on shares of World Wrestling Entertainment in a research report on Thursday, February 16th. TheStreet raised shares of World Wrestling Entertainment from a “c+” rating to a “b-” rating in a research report on Thursday, May 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 target price on shares of World Wrestling Entertainment in a research report on Tuesday, April 4th. BTIG Research reissued a “buy” rating and issued a $25.00 price objective on shares of World Wrestling Entertainment in a research report on Sunday, April 2nd. Finally, Citigroup Inc. assumed coverage on shares of World Wrestling Entertainment in a research report on Monday, March 27th. They issued a “buy” rating and a $25.00 price objective for the company.
Shares of World Wrestling Entertainment (NYSE WWE) traded up 0.29% on Tuesday, hitting $20.91. The company had a trading volume of 510,286 shares. The company has a 50 day moving average of $20.31 and a 200-day moving average of $20.33. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 77.44 and a beta of 0.79. World Wrestling Entertainment has a 12-month low of $16.77 and a 12-month high of $23.14.
World Wrestling Entertainment (NYSE:WWE) last released its earnings results on Thursday, May 4th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $188.40 million during the quarter, compared to the consensus estimate of $183.41 million. World Wrestling Entertainment had a net margin of 2.79% and a return on equity of 11.35%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the business posted $0.18 EPS. On average, analysts forecast that World Wrestling Entertainment will post $0.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 26th. Stockholders of record on Thursday, June 15th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Tuesday, June 13th. World Wrestling Entertainment’s dividend payout ratio is presently 184.62%.
In other news, insider Michael J. Luisi sold 7,125 shares of the firm’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $21.16, for a total transaction of $150,765.00. Following the completion of the sale, the insider now owns 80,609 shares in the company, valued at approximately $1,705,686.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 49.80% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Municipal Employees Retirement System of Michigan boosted its stake in shares of World Wrestling Entertainment by 4.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,790 shares of the company’s stock valued at $195,000 after buying an additional 380 shares during the period. Mason Street Advisors LLC boosted its stake in shares of World Wrestling Entertainment by 7.1% in the first quarter. Mason Street Advisors LLC now owns 9,003 shares of the company’s stock valued at $200,000 after buying an additional 600 shares during the period. ETRADE Capital Management LLC acquired a new stake in shares of World Wrestling Entertainment during the third quarter valued at $202,000. Karp Capital Management Corp acquired a new stake in shares of World Wrestling Entertainment during the first quarter valued at $228,000. Finally, UBS Asset Management Americas Inc. acquired a new stake in shares of World Wrestling Entertainment during the first quarter valued at $229,000. Institutional investors and hedge funds own 52.01% of the company’s stock.
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About World Wrestling Entertainment
World Wrestling Entertainment, Inc (WWE) is an integrated media and entertainment company. The Company’s segments are Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, WWE Studios, and Corporate and Other. 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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