Brokerages expect World Wrestling Entertainment, Inc. (NYSE:WWE) to report $189.49 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for World Wrestling Entertainment’s earnings, with estimates ranging from $187.20 million to $191.87 million. World Wrestling Entertainment posted sales of $188.40 million during the same quarter last year, which suggests a positive year-over-year growth rate of 0.6%. The firm is scheduled to announce its next quarterly earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that World Wrestling Entertainment will report full year sales of $189.49 million for the current year, with estimates ranging from $820.02 million to $851.14 million. For the next fiscal year, analysts forecast that the business will report sales of $887.77 million per share, with estimates ranging from $856.60 million to $912.78 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow World Wrestling Entertainment.
World Wrestling Entertainment (NYSE:WWE) last posted its earnings results on Thursday, February 8th. The company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. World Wrestling Entertainment had a return on equity of 20.50% and a net margin of 4.07%. The company had revenue of $211.60 million for the quarter, compared to analyst estimates of $208.51 million. During the same quarter in the prior year, the company earned $0.10 earnings per share. World Wrestling Entertainment’s revenue was up 8.6% compared to the same quarter last year.
WWE has been the topic of several recent analyst reports. ValuEngine upgraded World Wrestling Entertainment from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Citigroup downgraded World Wrestling Entertainment from a “buy” rating to a “neutral” rating and increased their target price for the stock from $29.00 to $33.00 in a research report on Saturday, December 30th. Zacks Investment Research downgraded World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research report on Saturday, January 13th. JPMorgan Chase & Co. initiated coverage on World Wrestling Entertainment in a research report on Wednesday, December 6th. They set an “overweight” rating on the stock. Finally, Benchmark reiterated a “buy” rating and set a $40.00 target price (up from $28.00) on shares of World Wrestling Entertainment in a research report on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $38.89.
In other World Wrestling Entertainment news, SVP Blake Timothy Bilstad sold 1,419 shares of the company’s stock in a transaction dated Sunday, February 11th. The stock was sold at an average price of $35.53, for a total transaction of $50,417.07. Following the completion of the sale, the senior vice president now directly owns 24,121 shares in the company, valued at $857,019.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent K. Mcmahon sold 3,340,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $28.68, for a total value of $95,791,200.00. Following the sale, the chief executive officer now owns 3,340,000 shares of the company’s stock, valued at $95,791,200. The disclosure for this sale can be found here. Insiders have sold 3,343,419 shares of company stock valued at $95,915,017 over the last 90 days. 45.10% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the business. Elk Creek Partners LLC acquired a new stake in shares of World Wrestling Entertainment in the third quarter valued at about $11,725,000. Jane Street Group LLC acquired a new stake in shares of World Wrestling Entertainment in the fourth quarter valued at about $11,159,000. Renaissance Technologies LLC grew its stake in shares of World Wrestling Entertainment by 71.3% in the fourth quarter. Renaissance Technologies LLC now owns 853,800 shares of the company’s stock valued at $26,109,000 after buying an additional 355,400 shares in the last quarter. Sirios Capital Management L P grew its stake in shares of World Wrestling Entertainment by 104.7% in the third quarter. Sirios Capital Management L P now owns 599,734 shares of the company’s stock valued at $14,124,000 after buying an additional 306,719 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of World Wrestling Entertainment in the fourth quarter valued at about $8,908,000. Institutional investors own 55.29% of the company’s stock.
World Wrestling Entertainment (WWE) traded down $0.24 during midday trading on Friday, reaching $37.10. The company had a trading volume of 1,028,219 shares, compared to its average volume of 925,593. World Wrestling Entertainment has a 1 year low of $19.12 and a 1 year high of $39.09. The stock has a market capitalization of $2,882.29, a P/E ratio of 90.25 and a beta of 0.84. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.83 and a quick ratio of 2.77.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, March 14th. This represents a $0.48 annualized dividend and a yield of 1.29%. World Wrestling Entertainment’s dividend payout ratio is presently 117.08%.
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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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