World Wrestling Entertainment (WWE) Price Target Raised to $105.00

World Wrestling Entertainment (NYSE:WWE) had its target price raised by Guggenheim from $100.00 to $105.00 in a research note released on Wednesday, The Fly reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research raised World Wrestling Entertainment from a hold rating to a buy rating and set a $78.00 price objective for the company in a report on Monday, October 29th. KeyCorp reissued a buy rating on shares of World Wrestling Entertainment in a report on Friday, October 26th. Cannonball Research raised World Wrestling Entertainment to a buy rating and set a $95.00 price objective for the company in a report on Thursday, October 11th. Citigroup increased their price objective on World Wrestling Entertainment from $69.00 to $85.00 and gave the company a neutral rating in a report on Monday, August 27th. Finally, FBN Securities raised World Wrestling Entertainment from a sector perform rating to an outperform rating in a report on Tuesday, November 27th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $87.42.

Shares of WWE opened at $73.96 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.26 and a quick ratio of 1.23. The company has a market capitalization of $5.62 billion, a P/E ratio of 113.78 and a beta of 1.18. World Wrestling Entertainment has a 52-week low of $27.81 and a 52-week high of $97.69.

World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings data on Thursday, October 25th. The company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.18. The business had revenue of $188.40 million during the quarter, compared to the consensus estimate of $203.08 million. World Wrestling Entertainment had a return on equity of 27.69% and a net margin of 7.27%. On average, sell-side analysts predict that World Wrestling Entertainment will post 0.92 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Friday, December 14th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, December 13th. World Wrestling Entertainment’s dividend payout ratio (DPR) is presently 73.85%.

In other news, insider Kevin Dunn sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $86.87, for a total transaction of $2,171,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark Kowal sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $88.04, for a total value of $220,100.00. Following the sale, the chief accounting officer now owns 9,872 shares of the company’s stock, valued at approximately $869,130.88. The disclosure for this sale can be found here. Insiders have sold 115,000 shares of company stock valued at $9,639,975 in the last 90 days. Company insiders own 45.10% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in WWE. Meeder Asset Management Inc. raised its stake in shares of World Wrestling Entertainment by 175.0% during the second quarter. Meeder Asset Management Inc. now owns 1,815 shares of the company’s stock worth $132,000 after purchasing an additional 1,155 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of World Wrestling Entertainment by 48.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,246 shares of the company’s stock worth $164,000 after purchasing an additional 734 shares during the last quarter. Strs Ohio purchased a new stake in shares of World Wrestling Entertainment during the second quarter worth approximately $167,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of World Wrestling Entertainment during the second quarter worth approximately $212,000. Finally, Hartford Investment Management Co. purchased a new stake in shares of World Wrestling Entertainment during the third quarter worth approximately $214,000. Institutional investors and hedge funds own 60.67% 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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