World Wrestling Entertainment, Inc. (WWE) Given Average Rating of “Buy” by Brokerages
World Wrestling Entertainment, Inc. (NYSE:WWE) has earned an average rating of “Buy” from the thirteen analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $24.38.
WWE has been the topic of a number of research analyst reports. ValuEngine raised World Wrestling Entertainment from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Morgan Stanley initiated coverage on 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 World Wrestling Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Benchmark Co. reaffirmed a “buy” rating and set a $25.00 target price (down previously from $26.00) on shares of World Wrestling Entertainment in a report on Sunday, July 30th. Finally, BidaskClub downgraded World Wrestling Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th.
In other news, insider Basil V. Jr. Devito sold 25,537 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $21.59, for a total transaction of $551,343.83. Following the sale, the insider now directly owns 65,616 shares in the company, valued at approximately $1,416,649.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kevin Dunn sold 72,286 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $20.81, for a total value of $1,504,271.66. Following the sale, the insider now owns 379,559 shares in the company, valued at $7,898,622.79. The disclosure for this sale can be found here. Insiders have sold a total of 173,231 shares of company stock worth $3,660,354 over the last quarter. Insiders own 49.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. NGAM Advisors L.P. acquired a new stake in shares of World Wrestling Entertainment during the 2nd quarter worth approximately $207,000. Prudential Financial Inc. raised its position in shares of World Wrestling Entertainment by 0.6% during the 1st quarter. Prudential Financial Inc. now owns 65,268 shares of the company’s stock worth $1,450,000 after purchasing an additional 400 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of World Wrestling Entertainment during the 1st quarter worth approximately $576,000. Swiss National Bank raised its position in shares of World Wrestling Entertainment by 8.3% during the 1st quarter. Swiss National Bank now owns 60,200 shares of the company’s stock worth $1,338,000 after purchasing an additional 4,600 shares during the period. Finally, Capital One National Association raised its position in shares of World Wrestling Entertainment by 0.8% during the 2nd quarter. Capital One National Association now owns 17,820 shares of the company’s stock worth $363,000 after purchasing an additional 143 shares during the period. Institutional investors and hedge funds own 49.50% of the company’s stock.
World Wrestling Entertainment (NYSE:WWE) traded up 1.72% on Friday, reaching $22.44. The company’s stock had a trading volume of 752,848 shares. The firm’s 50 day moving average price is $21.38 and its 200-day moving average price is $20.98. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 68.41 and a beta of 0.79. World Wrestling Entertainment has a 52 week low of $16.77 and a 52 week high of $23.14.
World Wrestling Entertainment (NYSE:WWE) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. World Wrestling Entertainment had a return on equity of 13.07% and a net margin of 3.29%. The firm had revenue of $214.60 million during the quarter, compared to the consensus estimate of $209.28 million. During the same quarter in the prior year, the business posted $0.01 earnings per share. World Wrestling Entertainment’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts predict that World Wrestling Entertainment will post $0.46 EPS for the current year.
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 given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Thursday, September 14th. World Wrestling Entertainment’s payout ratio is 154.84%.
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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