World Wrestling Entertainment, Inc. (NYSE:WWE) posted its earnings results on Thursday, July 27th. The company reported $0.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.06, MarketWatch Earnings reports. The business had revenue of $214.60 million for the quarter, compared to analyst estimates of $209.28 million. World Wrestling Entertainment had a net margin of 3.29% and a return on equity of 13.07%. World Wrestling Entertainment’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 EPS.

World Wrestling Entertainment (WWE) opened at 20.90 on Wednesday. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 63.72 and a beta of 0.82. World Wrestling Entertainment has a one year low of $16.77 and a one year high of $23.14. The stock has a 50 day moving average of $20.86 and a 200-day moving average of $20.79.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Friday, September 15th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Thursday, September 14th. World Wrestling Entertainment’s payout ratio is 154.84%.

In other news, CRO Michelle D. Wilson sold 55,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $21.25, for a total value of $1,168,750.00. Following the transaction, the executive now owns 436,174 shares of the company’s stock, valued at $9,268,697.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Casey Collins sold 13,383 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $21.23, for a total transaction of $284,121.09. Following the completion of the sale, the executive vice president now owns 43,926 shares in the company, valued at approximately $932,548.98. The disclosure for this sale can be found here. 49.80% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the company. Lindsell Train Ltd boosted its stake in shares of World Wrestling Entertainment by 4.2% in the second quarter. Lindsell Train Ltd now owns 7,082,868 shares of the company’s stock valued at $144,278,000 after buying an additional 286,635 shares in the last quarter. BlackRock Inc. boosted its stake in shares of World Wrestling Entertainment by 116,814.6% in the first quarter. BlackRock Inc. now owns 4,426,388 shares of the company’s stock valued at $98,355,000 after buying an additional 4,422,602 shares in the last quarter. Morgan Stanley boosted its stake in shares of World Wrestling Entertainment by 22.5% in the first quarter. Morgan Stanley now owns 1,807,629 shares of the company’s stock valued at $40,165,000 after buying an additional 331,584 shares in the last quarter. State Street Corp boosted its stake in shares of World Wrestling Entertainment by 9.3% in the first quarter. State Street Corp now owns 826,608 shares of the company’s stock valued at $18,368,000 after buying an additional 70,057 shares in the last quarter. Finally, Eagle Boston Investment Management Inc. boosted its stake in shares of World Wrestling Entertainment by 5.5% in the first quarter. Eagle Boston Investment Management Inc. now owns 456,556 shares of the company’s stock valued at $10,144,000 after buying an additional 23,764 shares in the last quarter. Institutional investors own 49.79% of the company’s stock.

WARNING: This story was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another domain, it was stolen and reposted in violation of United States & international copyright law. The original version of this story can be accessed at https://www.thecerbatgem.com/2017/08/09/world-wrestling-entertainment-inc-wwe-posts-earnings-results-hits-expectations-updated.html.

WWE has been the topic of a number of analyst reports. TheStreet raised shares of World Wrestling Entertainment from a “c+” rating to a “b-” rating in a report on Thursday, May 4th. ValuEngine raised shares of World Wrestling Entertainment from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Morgan Stanley initiated coverage on shares of World Wrestling Entertainment in a report on Friday, June 30th. They set an “equal weight” rating and a $23.00 target price on the stock. Zacks Investment Research raised shares of World Wrestling Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Benchmark Co. reissued a “buy” rating and issued a $25.00 price target (down previously from $26.00) on shares of World Wrestling Entertainment in a report on Sunday, July 30th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. World Wrestling Entertainment has a consensus rating of “Hold” and an average target price of $24.38.

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.

Earnings History for World Wrestling Entertainment (NYSE:WWE)

Receive News & Stock Ratings for World Wrestling Entertainment Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for World Wrestling Entertainment Inc. and related stocks with our FREE daily email newsletter.