World Wrestling Entertainment, Inc. (WWE) Expected to Announce Quarterly Sales of $173.20 Million
Wall Street analysts predict that World Wrestling Entertainment, Inc. (NYSE:WWE) will post sales of $173.20 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for World Wrestling Entertainment’s earnings, with the highest sales estimate coming in at $174.80 million and the lowest estimate coming in at $171.60 million. World Wrestling Entertainment posted sales of $164.20 million in the same quarter last year, which indicates a positive year over year growth rate of 5.5%. The firm is expected to report its next quarterly earnings report before the market opens on Thursday, October 26th.
According to Zacks, analysts expect that World Wrestling Entertainment will report full-year sales of $173.20 million for the current financial year, with estimates ranging from $776.30 million to $784.82 million. For the next financial year, analysts expect that the company will report sales of $824.46 million per share, with estimates ranging from $806.80 million to $834.48 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow World Wrestling Entertainment.
World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. World Wrestling Entertainment had a net margin of 3.29% and a return on equity of 13.07%. The business had revenue of $214.60 million during the quarter, compared to analysts’ expectations of $209.28 million. During the same quarter in the prior year, the company posted $0.01 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis.
A number of equities research analysts have recently commented on WWE shares. ValuEngine upgraded shares of World Wrestling Entertainment from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research upgraded shares of World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Tuesday, September 12th. Morgan Stanley started coverage on shares of World Wrestling Entertainment in a report on Friday, June 30th. They set an “equal weight” rating and a $23.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price target on shares of World Wrestling Entertainment in a report on Tuesday, September 26th. Finally, Benchmark Co. reiterated a “buy” rating and set a $25.00 price target (down from $26.00) on shares of World Wrestling Entertainment in a report on Sunday, July 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $24.38.
In related news, insider Basil V. Jr. Devito sold 25,537 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $21.59, for a total value of $551,343.83. Following the completion of the sale, the insider now directly owns 65,616 shares in the company, valued at $1,416,649.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Mark Kowal sold 2,275 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $21.99, for a total transaction of $50,027.25. Following the completion of the sale, the senior vice president now owns 14,736 shares of the company’s stock, valued at $324,044.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 173,231 shares of company stock valued at $3,660,354. 49.80% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can lifted its position in World Wrestling Entertainment by 9.1% during the first quarter. Great West Life Assurance Co. Can now owns 51,529 shares of the company’s stock valued at $1,144,000 after buying an additional 4,296 shares in the last quarter. Comerica Bank lifted its position in World Wrestling Entertainment by 3.9% during the first quarter. Comerica Bank now owns 42,417 shares of the company’s stock valued at $913,000 after buying an additional 1,603 shares in the last quarter. Swiss National Bank lifted its position in World Wrestling Entertainment by 8.3% during the first quarter. Swiss National Bank now owns 60,200 shares of the company’s stock valued at $1,338,000 after buying an additional 4,600 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new position in World Wrestling Entertainment during the first quarter valued at approximately $229,000. Finally, Karp Capital Management Corp acquired a new position in World Wrestling Entertainment during the first quarter valued at approximately $228,000. Hedge funds and other institutional investors own 49.49% of the company’s stock.
Shares of World Wrestling Entertainment (NYSE WWE) opened at 23.51 on Friday. The stock has a market cap of $1.81 billion, a PE ratio of 71.68 and a beta of 0.84. World Wrestling Entertainment has a 1-year low of $16.77 and a 1-year high of $23.88. The stock has a 50 day moving average of $22.20 and a 200 day moving average of $21.24.
The business also recently announced a quarterly dividend, which was paid on Monday, September 25th. Investors of record on Friday, September 15th were issued a $0.12 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.48 dividend on an annualized basis and a yield of 2.04%. World Wrestling Entertainment’s payout ratio is 154.84%.
World Wrestling Entertainment Company Profile
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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