Wall Street brokerages predict that World Wrestling Entertainment, Inc. (NYSE:WWE) will announce $203.08 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for World Wrestling Entertainment’s earnings, with the lowest sales estimate coming in at $201.40 million and the highest estimate coming in at $204.76 million. World Wrestling Entertainment posted sales of $186.40 million during the same quarter last year, which suggests a positive year over year growth rate of 8.9%. The business is expected to announce its next earnings results before the market opens on Thursday, October 25th.
According to Zacks, analysts expect that World Wrestling Entertainment will report full-year sales of $906.71 million for the current fiscal year, with estimates ranging from $900.18 million to $911.20 million. For the next fiscal year, analysts anticipate that the business will report sales of $1.02 billion, with estimates ranging from $1.01 billion to $1.04 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover World Wrestling Entertainment.
World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings results on Thursday, July 26th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). The firm 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 company’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period last year, the firm earned $0.06 EPS.
WWE has been the subject of several research reports. Guggenheim lifted their price target on World Wrestling Entertainment to $82.00 and gave the stock an “average” rating in a research note on Wednesday, June 27th. Needham & Company LLC boosted their target price on shares of World Wrestling Entertainment from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. Zacks Investment Research raised shares of World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research note on Monday, July 16th. BTIG Research boosted their target price on shares of World Wrestling Entertainment from $75.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, July 6th. Finally, MKM Partners boosted their target price on shares of World Wrestling Entertainment to $95.00 and gave the company a “buy” rating in a research note on Friday, June 29th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $87.00.
NYSE:WWE opened at $82.03 on Friday. The firm has a market cap of $6.55 billion, a PE ratio of 126.20 and a beta of 0.97. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.34 and a quick ratio of 1.31. World Wrestling Entertainment has a 52-week low of $21.22 and a 52-week high of $97.69.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Friday, December 14th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.59%. The ex-dividend date is Thursday, December 13th. World Wrestling Entertainment’s payout ratio is 73.85%.
In related news, insider Michael J. Luisi sold 12,461 shares of the business’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $79.01, for a total value of $984,543.61. Following the completion of the transaction, the insider now owns 69,046 shares of the company’s stock, valued at approximately $5,455,324.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark Kowal sold 2,500 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $79.45, for a total transaction of $198,625.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,872 shares of the company’s stock, valued at approximately $1,181,580.40. The disclosure for this sale can be found here. Insiders sold a total of 353,996 shares of company stock valued at $29,322,438 in the last three months. 45.10% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in World Wrestling Entertainment by 3.1% in the 2nd quarter. BlackRock Inc. now owns 5,788,064 shares of the company’s stock valued at $421,486,000 after buying an additional 172,587 shares during the period. Renaissance Technologies LLC grew its holdings in World Wrestling Entertainment by 48.5% in the 2nd quarter. Renaissance Technologies LLC now owns 3,318,100 shares of the company’s stock valued at $241,624,000 after buying an additional 1,083,700 shares during the period. Gilder Gagnon Howe & Co. LLC grew its holdings in World Wrestling Entertainment by 72.0% in 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 buying an additional 776,979 shares during the period. Northern Trust Corp grew its holdings in World Wrestling Entertainment by 2.4% in the 2nd quarter. Northern Trust Corp now owns 556,130 shares of the company’s stock valued at $40,498,000 after buying an additional 13,159 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in World Wrestling Entertainment by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 504,577 shares of the company’s stock valued at $36,745,000 after buying an additional 12,953 shares during the period. Institutional investors own 61.52% of the company’s stock.
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.
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