Shares of World Wrestling Entertainment, Inc. (NYSE:WWE – Get Rating) have received an average recommendation of “Hold” from the ten ratings firms that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $63.88.
A number of research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of World Wrestling Entertainment from a “strong-buy” rating to a “hold” rating and set a $66.00 target price for the company. in a research report on Wednesday, April 6th. TheStreet raised shares of World Wrestling Entertainment from a “c+” rating to a “b-” rating in a research report on Monday. Barclays raised their target price on shares of World Wrestling Entertainment from $55.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, April 7th. JPMorgan Chase & Co. raised their target price on shares of World Wrestling Entertainment from $58.00 to $64.00 in a research report on Thursday, April 21st. Finally, Benchmark raised their target price on shares of World Wrestling Entertainment from $68.00 to $71.00 in a research report on Friday, February 4th.
In related news, EVP Bradley Blum sold 9,800 shares of World Wrestling Entertainment stock in a transaction dated Wednesday, March 23rd. The shares were sold at an average price of $60.14, for a total transaction of $589,372.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 41.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Signaturefd LLC raised its stake in World Wrestling Entertainment by 67.6% in the 1st quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $31,000 after purchasing an additional 198 shares in the last quarter. Wealthsource Partners LLC raised its stake in World Wrestling Entertainment by 2.8% in the 4th quarter. Wealthsource Partners LLC now owns 7,996 shares of the company’s stock worth $395,000 after purchasing an additional 215 shares in the last quarter. Eaton Vance Management raised its stake in World Wrestling Entertainment by 1.9% in the 4th quarter. Eaton Vance Management now owns 13,335 shares of the company’s stock worth $615,000 after purchasing an additional 250 shares in the last quarter. Parallel Advisors LLC raised its stake in World Wrestling Entertainment by 74.8% in the 1st quarter. Parallel Advisors LLC now owns 589 shares of the company’s stock worth $37,000 after purchasing an additional 252 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in World Wrestling Entertainment by 0.3% in the 4th quarter. Rhumbline Advisers now owns 118,177 shares of the company’s stock worth $5,831,000 after purchasing an additional 307 shares in the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:WWE traded up $0.59 during midday trading on Friday, reaching $60.91. 706,515 shares of the company were exchanged, compared to its average volume of 641,829. World Wrestling Entertainment has a fifty-two week low of $46.81 and a fifty-two week high of $70.72. The company has a quick ratio of 1.51, a current ratio of 1.53 and a debt-to-equity ratio of 0.97. The stock has a fifty day simple moving average of $60.08 and a two-hundred day simple moving average of $55.36. The firm has a market cap of $4.53 billion, a PE ratio of 25.49 and a beta of 1.24.
World Wrestling Entertainment (NYSE:WWE – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.09. World Wrestling Entertainment had a net margin of 17.40% and a return on equity of 53.60%. The business had revenue of $333.40 million for the quarter, compared to analyst estimates of $325.70 million. During the same period last year, the business posted $0.51 earnings per share. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. As a group, analysts forecast that World Wrestling Entertainment will post 2.48 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 27th. Stockholders of record on Wednesday, June 15th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Tuesday, June 14th. World Wrestling Entertainment’s dividend payout ratio (DPR) is presently 20.08%.
About World Wrestling Entertainment (Get Rating)
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. It operates through three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form video content across various platforms, including WWE Network, broadcast and pay television, and digital and social media, as well as filmed entertainment.
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