A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of World Wrestling Entertainment from a buy rating to a hold rating in a report on Wednesday, July 20th. Benchmark Co. reaffirmed a buy rating and set a $21.86 price objective on shares of World Wrestling Entertainment in a report on Monday, August 1st. Wells Fargo & Co. reaffirmed a buy rating on shares of World Wrestling Entertainment in a report on Tuesday, July 12th. KeyCorp cut their price objective on shares of World Wrestling Entertainment from $22.00 to $21.00 and set an overweight rating for the company in a report on Thursday, June 16th. Finally, Pacific Crest reaffirmed a buy rating and set a $22.00 price objective (up from $21.00) on shares of World Wrestling Entertainment in a report on Thursday, June 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $21.54.
Shares of World Wrestling Entertainment (NYSE:WWE) opened at 20.80 on Tuesday. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 66.88 and a beta of 0.76. The company’s 50-day moving average is $20.60 and its 200-day moving average is $18.76. World Wrestling Entertainment has a 12-month low of $14.20 and a 12-month high of $21.55.
World Wrestling Entertainment (NYSE:WWE) last released its earnings results on Thursday, July 28th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by $0.02. World Wrestling Entertainment had a return on equity of 13.38% and a net margin of 3.40%. The firm had revenue of $199 million for the quarter, compared to the consensus estimate of $182.56 million. During the same quarter in the previous year, the business posted $0.07 EPS. World Wrestling Entertainment’s revenue was up 32.5% on a year-over-year basis. Analysts predict that World Wrestling Entertainment will post $0.48 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 26th. Investors of record on Thursday, September 15th were given a $0.12 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.48 dividend on an annualized basis and a yield of 2.31%. World Wrestling Entertainment’s dividend payout ratio is presently 154.84%.
In related news, EVP Casey Collins sold 11,071 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $20.21, for a total value of $223,744.91. Following the completion of the sale, the executive vice president now directly owns 37,956 shares in the company, valued at $767,090.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael J. Luisi sold 7,875 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $21.39, for a total value of $168,446.25. Following the completion of the sale, the insider now owns 64,175 shares of the company’s stock, valued at $1,372,703.25. The disclosure for this sale can be found here. 55.10% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of WWE. First Manhattan Co. increased its stake in shares of World Wrestling Entertainment by 3.9% in the first quarter. First Manhattan Co. now owns 15,904 shares of the company’s stock worth $280,000 after buying an additional 595 shares in the last quarter. Texas Permanent School Fund bought a new stake in shares of World Wrestling Entertainment during the first quarter worth about $484,000. Prudential Financial Inc. bought a new stake in shares of World Wrestling Entertainment during the first quarter worth about $1,432,000. BlackRock Fund Advisors increased its stake in shares of World Wrestling Entertainment by 169.6% in the first quarter. BlackRock Fund Advisors now owns 2,010,653 shares of the company’s stock worth $35,508,000 after buying an additional 1,264,908 shares in the last quarter. Finally, Aristotle Capital Boston LLC increased its stake in shares of World Wrestling Entertainment by 1.8% in the first quarter. Aristotle Capital Boston LLC now owns 276,498 shares of the company’s stock worth $4,883,000 after buying an additional 4,989 shares in the last quarter. Institutional investors own 47.54% of the company’s stock.
About World Wrestling Entertainment
World Wrestling Entertainment, Inc (WWE) is a media and entertainment company. 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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