World Wrestling Entertainment, Inc. (WWE) Receives New Coverage from Analysts at Guggenheim
Several other equities analysts have also recently commented on WWE. Zacks Investment Research raised shares of World Wrestling Entertainment from a sell rating to a hold rating in a research report on Wednesday. MKM Partners assumed coverage on shares of World Wrestling Entertainment in a research report on Tuesday. They set a buy rating and a $23.00 target price on the stock. Needham & Company LLC reissued a buy rating on shares of World Wrestling Entertainment in a research report on Tuesday, December 6th. Wells Fargo & Company cut shares of World Wrestling Entertainment from an outperform rating to a market perform rating in a research report on Friday, October 28th. Finally, Deutsche Bank AG reissued a sell rating on shares of World Wrestling Entertainment in a research report on Friday, October 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of Buy and an average price target of $21.69.
World Wrestling Entertainment (NYSE:WWE) traded up 1.78% during mid-day trading on Thursday, reaching $19.48. The company’s stock had a trading volume of 862,327 shares. The firm has a 50 day moving average price of $18.85 and a 200 day moving average price of $19.49. World Wrestling Entertainment has a 52-week low of $14.20 and a 52-week high of $21.55. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 60.69 and a beta of 0.69.
World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.04. The company had revenue of $164.20 million for the quarter, compared to analyst estimates of $107.40 million. World Wrestling Entertainment had a net margin of 3.51% and a return on equity of 13.62%. World Wrestling Entertainment’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 EPS. Equities research analysts anticipate that World Wrestling Entertainment will post $0.45 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 27th. Shareholders of record on Thursday, December 15th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, December 13th. This represents a $0.48 dividend on an annualized basis and a yield of 2.46%. World Wrestling Entertainment’s payout ratio is 154.84%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Artemis Investment Management LLP purchased a new position in World Wrestling Entertainment during the second quarter worth approximately $10,621,000. Majedie Asset Management Ltd raised its position in World Wrestling Entertainment by 51.3% in the second quarter. Majedie Asset Management Ltd now owns 1,500,925 shares of the company’s stock worth $27,632,000 after buying an additional 508,611 shares during the period. Lindsell Train Ltd raised its position in World Wrestling Entertainment by 7.2% in the second quarter. Lindsell Train Ltd now owns 6,117,681 shares of the company’s stock worth $112,627,000 after buying an additional 410,000 shares during the period. BlackRock Fund Advisors raised its position in World Wrestling Entertainment by 13.3% in the third quarter. BlackRock Fund Advisors now owns 2,495,495 shares of the company’s stock worth $53,154,000 after buying an additional 293,354 shares during the period. Finally, Great Lakes Advisors LLC purchased a new position in World Wrestling Entertainment during the third quarter worth approximately $3,028,000. Hedge funds and other institutional investors own 47.64% 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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