Shares of World Wrestling Entertainment, Inc. (NYSE:WWE – Get Rating) earned an average “Hold” recommendation from the thirteen brokerages that currently cover the firm, reports Marketbeat.com. One equity research analyst gave the stock a sell rating, four assigned a hold rating and five gave the company a buy rating. The average 12-month price target among analysts who have covered the stock in the past year is $78.70.
WWE has been the subject of several recent analyst reports. Wolfe Research upgraded World Wrestling Entertainment from a “peer performing” rating to an “outperform” rating and set a $98.00 price target for the shares in a research note on Thursday, September 8. Northcoast Research downgraded World Wrestling Entertainment from a “buy” rating to a “neutral” rating in a research note on Thursday, August 18. They noted the move was a valuation call. Citigroup raised its price target on World Wrestling Entertainment to $86.00 in a research note on Tuesday. Loop Capital upgraded World Wrestling Entertainment from a “hold” rating to a “buy” rating and lowered its price target for the shares from $159.00 to $90.00 in a research note on Wednesday, August 3. Ultimately, Barclays increased its price target on World Wrestling Entertainment from $61.00 to $69.00 and gave the shares an “equal weight” rating in a research note on Wednesday, August 17.
Institutional trade of World Wrestling Entertainment
Large investors have recently increased or reduced their holdings in stocks. Quadrant Capital Group LLC increased its stake in World Wrestling Entertainment by 270.3% in the first quarter. Quadrant Capital Group LLC now owns 437 shares of the company valued at $27,000 after purchasing an additional 319 shares in the last quarter. Allworth Financial LP increased its stake in World Wrestling Entertainment by 84.4% in the third quarter. Allworth Financial LP now owns 402 shares of the company valued at $28,000 after purchasing an additional 184 shares in the last quarter. Signaturefd LLC increased its stake in World Wrestling Entertainment by 67.6% in the first quarter. Signaturefd LLC now owns 491 shares of the company valued at $31,000 after purchasing an additional 198 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new stake in World Wrestling Entertainment in the third quarter valued at $32,000. Finally, Parallel Advisors LLC increased its stake in World Wrestling Entertainment by 74.8% in the first quarter. Parallel Advisors LLC now owns 589 shares of the company valued at $37,000 after purchasing an additional 252 shares in the last quarter. Currently, 69.94% of the shares are owned by institutional investors and hedge funds.
World Wrestling Entertainment Price Performance
WWE shares opened at $77.00 on Friday. World Wrestling Entertainment has a 1-year minimum of $46.91 and a 1-year maximum of $79.83. The company has a debt to equity ratio of 0.82, a quick ratio of 1.46, and a current ratio of 1.46. The stock’s 50-day moving average price is $73.54 and its 200-day moving average price is $68.17. The company has a market capitalization of $5.73 billion, a price-earnings ratio of 29.62, and a beta of 1.11.
World Wrestling Entertainment (NYSE:WWE – Get Rating) last posted its earnings results on Tuesday, August 16. The company reported earnings per share (EPS) of $0.59 for the quarter, beating analyst consensus estimates of $0.56 by $0.03. World Wrestling Entertainment had a return on equity of 54.64% and a net margin of 17.29%. The firm had revenue of $328.20 million in the quarter, compared with analyst estimates of $322.38 million. During the same quarter of the prior year, the company earned $0.42 EPS. World Wrestling Entertainment revenue increased 23.6% year-over-year. On average, sell-side analysts expect World Wrestling Entertainment to post 2.57 earnings per share for the current fiscal year.
World Wrestling Entertainment Announces Dividends
The company also recently declared a quarterly dividend, to be paid on Tuesday, December 27. Investors registered on Thursday, December 15 will receive a dividend of $0.12. The ex-dividend date of this dividend is Wednesday, December 14. This represents an annualized dividend of $0.48 and a yield of 0.62%. World Wrestling Entertainment’s dividend payout ratio is currently 18.46%.
Global Wrestling Entertainment Company Profile
World Wrestling Entertainment, Inc, an integrated media and entertainment company, is involved in the sports entertainment business in North America, Europe, the Middle East, Africa, 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 short and long 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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