World Wrestling Entertainment, Inc. (NYSE:WWE) – Investment analysts at KeyCorp raised their FY2017 earnings per share estimates for shares of World Wrestling Entertainment in a research report issued to clients and investors on Thursday. KeyCorp analyst E. Wingren now anticipates that the company will post earnings per share of $0.57 for the year, up from their previous forecast of $0.48. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for World Wrestling Entertainment’s Q4 2017 earnings at $0.22 EPS, Q2 2018 earnings at $0.13 EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.25 EPS and FY2018 earnings at $0.79 EPS.
World Wrestling Entertainment (NYSE:WWE) last released its earnings results on Thursday, October 26th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.08. World Wrestling Entertainment had a return on equity of 17.05% and a net margin of 4.56%. The company had revenue of $186.40 million during the quarter, compared to the consensus estimate of $176.19 million. During the same quarter last year, the company earned $0.14 earnings per share. World Wrestling Entertainment’s quarterly revenue was up 13.5% compared to the same quarter last year.
Other research analysts have also recently issued research reports about the company. Benchmark Co. increased their price target on World Wrestling Entertainment from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday. ValuEngine lowered World Wrestling Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. BidaskClub lowered World Wrestling Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Monday, July 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $25.00 price objective on shares of World Wrestling Entertainment in a report on Tuesday, September 26th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. World Wrestling Entertainment presently has an average rating of “Buy” and an average price target of $25.25.
Shares of World Wrestling Entertainment (WWE) opened at 26.53 on Monday. World Wrestling Entertainment has a 12-month low of $16.77 and a 12-month high of $26.73. The firm has a market cap of $2.05 billion, a P/E ratio of 80.88 and a beta of 0.84. The firm has a 50-day moving average price of $23.06 and a 200-day moving average price of $21.40.
Large investors have recently bought and sold shares of the stock. Pinebridge Investments L.P. raised its position in World Wrestling Entertainment by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 5,073 shares of the company’s stock valued at $104,000 after buying an additional 51 shares during the period. State of Alaska Department of Revenue raised its position in World Wrestling Entertainment by 78.8% during the second quarter. State of Alaska Department of Revenue now owns 7,601 shares of the company’s stock valued at $154,000 after buying an additional 3,351 shares during the period. Municipal Employees Retirement System of Michigan raised its position in World Wrestling Entertainment by 4.5% during the first quarter. Municipal Employees Retirement System of Michigan now owns 8,790 shares of the company’s stock valued at $195,000 after buying an additional 380 shares during the period. NGAM Advisors L.P. acquired a new position in World Wrestling Entertainment during the second quarter valued at $207,000. Finally, Aperio Group LLC raised its position in World Wrestling Entertainment by 2.1% during the second quarter. Aperio Group LLC now owns 10,469 shares of the company’s stock valued at $213,000 after buying an additional 220 shares during the period. 49.47% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Kevin Dunn sold 72,286 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $20.81, for a total transaction of $1,504,271.66. Following the transaction, the insider now directly owns 379,559 shares of the company’s stock, valued at $7,898,622.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mark Kowal sold 4,750 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $21.44, for a total value of $101,840.00. Following the transaction, the senior vice president now directly owns 17,011 shares in the company, valued at $364,715.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,848 shares of company stock valued at $2,207,483. 49.80% of the stock is currently owned by company insiders.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 26th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Thursday, December 14th. World Wrestling Entertainment’s dividend payout ratio is 106.67%.
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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