Shares of World Wrestling Entertainment, Inc. (NYSE:WWE) have been given an average recommendation of “Buy” by the thirteen analysts that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $89.89.
A number of brokerages have recently weighed in on WWE. JPMorgan Chase & Co. increased their price target on World Wrestling Entertainment to $46.00 and gave the stock a “neutral” rating in a research report on Friday, May 18th. Needham & Company LLC increased their price target on World Wrestling Entertainment from $45.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, May 22nd. KeyCorp reissued an “overweight” rating and issued a $85.00 price objective (up from $71.00) on shares of World Wrestling Entertainment in a report on Wednesday, June 27th. Zacks Investment Research lowered World Wrestling Entertainment from a “buy” rating to a “hold” rating in a report on Monday, May 7th. Finally, Morgan Stanley increased their price objective on World Wrestling Entertainment from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, July 27th.
Shares of World Wrestling Entertainment traded up $0.30, reaching $79.36, on Tuesday, Marketbeat reports. 688,252 shares of the company were exchanged, compared to its average volume of 1,708,329. The company has a current ratio of 1.34, a quick ratio of 1.31 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 97.61 and a beta of 1.04. World Wrestling Entertainment has a 1-year low of $20.62 and a 1-year high of $85.93.
World Wrestling Entertainment (NYSE:WWE) last announced its quarterly earnings results on Thursday, July 26th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The company had revenue of $281.60 million for the quarter, compared to analyst estimates of $240.30 million. World Wrestling Entertainment had a return on equity of 24.64% and a net margin of 5.93%. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 earnings per share. sell-side analysts predict that World Wrestling Entertainment will post 0.83 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 25th. Investors of record on Friday, September 14th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Thursday, September 13th. World Wrestling Entertainment’s dividend payout ratio (DPR) is 73.85%.
In related news, Director Jeffrey R. Speed sold 3,750 shares of the stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the transaction, the director now directly owns 25,465 shares of the company’s stock, valued at approximately $2,037,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank A. Riddick III sold 6,300 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $80.86, for a total value of $509,418.00. Following the completion of the transaction, the director now directly owns 30,732 shares of the company’s stock, valued at $2,484,989.52. The disclosure for this sale can be found here. Insiders sold a total of 122,342 shares of company stock valued at $9,710,901 over the last three months. Corporate insiders own 45.10% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in World Wrestling Entertainment by 3.1% during the 2nd quarter. BlackRock Inc. now owns 5,788,064 shares of the company’s stock valued at $421,486,000 after purchasing an additional 172,587 shares in the last quarter. Gilder Gagnon Howe & Co. LLC boosted its stake in World Wrestling Entertainment by 72.0% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,855,865 shares of the company’s stock valued at $135,144,000 after purchasing an additional 776,979 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in World Wrestling Entertainment by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 504,577 shares of the company’s stock valued at $36,745,000 after purchasing an additional 12,953 shares in the last quarter. Wells Fargo & Company MN boosted its stake in World Wrestling Entertainment by 14.0% during the 2nd quarter. Wells Fargo & Company MN now owns 477,115 shares of the company’s stock valued at $34,743,000 after purchasing an additional 58,613 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in World Wrestling Entertainment by 7.5% during the 1st quarter. Principal Financial Group Inc. now owns 343,249 shares of the company’s stock valued at $12,360,000 after purchasing an additional 23,890 shares in the last quarter. 60.39% of the stock is owned by institutional investors and hedge funds.
World Wrestling Entertainment Company Profile
World Wrestling Entertainment, Inc, an integrated media and entertainment company, engages in the sports entertainment business in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, and WWE Studios segments.
Read More: How Do You Make Money With Penny Stocks?
Receive News & Ratings for World Wrestling Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for World Wrestling Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.