World Wrestling Entertainment, Inc. (NYSE:WWE) had its target price increased by Benchmark Co. from $25.00 to $28.00 in a research note published on Tuesday morning, Marketbeat reports. The firm currently has a buy rating on the stock.
A number of other brokerages also recently issued reports on WWE. FBN Securities downgraded shares of World Wrestling Entertainment from an outperform rating to a sector perform rating in a research note on Monday, October 30th. Zacks Investment Research upgraded shares of World Wrestling Entertainment from a hold rating to a strong-buy rating and set a $28.00 price target on the stock in a research note on Monday, October 30th. Needham & Company LLC restated a buy rating and issued a $25.00 price target on shares of World Wrestling Entertainment in a research note on Tuesday, September 26th. KeyCorp restated a hold rating on shares of World Wrestling Entertainment in a research note on Tuesday, October 17th. Finally, ValuEngine upgraded shares of World Wrestling Entertainment from a sell rating to a hold rating in a research note on Friday, September 1st. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. World Wrestling Entertainment presently has an average rating of Buy and a consensus price target of $25.25.
Shares of World Wrestling Entertainment (NYSE:WWE) opened at $26.38 on Tuesday. The company has a market capitalization of $2,024.83, a PE ratio of 49.55, a PEG ratio of 2.53 and a beta of 0.86. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.62 and a current ratio of 2.68.
World Wrestling Entertainment (NYSE:WWE) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.08. The firm had revenue of $186.40 million for the quarter, compared to the consensus estimate of $176.19 million. World Wrestling Entertainment had a net margin of 4.56% and a return on equity of 17.05%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 earnings per share. equities research analysts expect that World Wrestling Entertainment will post 0.52 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 26th. Investors of record on Friday, December 15th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.48 dividend on an annualized basis and a yield of 1.82%. World Wrestling Entertainment’s dividend payout ratio (DPR) is presently 106.67%.
In other World Wrestling Entertainment news, SVP Blake Timothy Bilstad sold 1,801 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $26.40, for a total transaction of $47,546.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kevin Dunn sold 72,286 shares of the firm’s stock in a transaction that occurred 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 owns 379,559 shares of the company’s stock, valued at approximately $7,898,622.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,649 shares of company stock valued at $2,255,029. 49.80% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in WWE. UBS Asset Management Americas Inc. bought a new position in World Wrestling Entertainment during the 1st quarter worth approximately $229,000. Karp Capital Management Corp bought a new position in World Wrestling Entertainment during the 1st quarter worth approximately $228,000. Ameriprise Financial Inc. grew its position in shares of World Wrestling Entertainment by 4.9% during the 1st quarter. Ameriprise Financial Inc. now owns 201,196 shares of the company’s stock worth $4,471,000 after buying an additional 9,355 shares during the period. Parametric Portfolio Associates LLC grew its position in shares of World Wrestling Entertainment by 0.9% during the 1st quarter. Parametric Portfolio Associates LLC now owns 69,236 shares of the company’s stock worth $1,538,000 after buying an additional 615 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of World Wrestling Entertainment by 14,498.8% during the 1st quarter. JPMorgan Chase & Co. now owns 224,675 shares of the company’s stock worth $4,993,000 after buying an additional 223,136 shares during the period. Hedge funds and other institutional investors own 49.47% of the company’s stock.
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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