World Wrestling Entertainment, Inc. (WWE) Hits New 12-Month High at $21.40
World Wrestling Entertainment, Inc. (NYSE:WWE) reached a new 52-week high on Tuesday . The company traded as high as $21.40 and last traded at $21.32, with a volume of 136,691 shares. The stock had previously closed at $21.03.
A number of equities research analysts have recently commented on the company. Zacks Investment Research upgraded World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Tuesday, July 19th. KeyCorp cut their price objective on World Wrestling Entertainment from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, June 16th. Wells Fargo & Co. reiterated an “outperform” rating and set a $21.00 price objective on shares of World Wrestling Entertainment in a research report on Friday, June 17th. Pacific Crest reiterated a “buy” rating and set a $22.00 price objective (up previously from $21.00) on shares of World Wrestling Entertainment in a research report on Thursday, June 16th. Finally, TheStreet downgraded World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. World Wrestling Entertainment currently has an average rating of “Buy” and a consensus target price of $21.54.
The stock’s 50 day moving average is $20.05 and its 200 day moving average is $17.95. The stock has a market cap of $1.62 billion and a P/E ratio of 68.33.
World Wrestling Entertainment (NYSE:WWE) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $199 million for the quarter, compared to analyst estimates of $182.56 million. During the same period in the prior year, the company posted $0.07 earnings per share. World Wrestling Entertainment’s quarterly revenue was up 32.5% compared to the same quarter last year. On average, analysts anticipate that World Wrestling Entertainment, Inc. will post $0.48 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 26th. Investors of record on Thursday, September 15th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Tuesday, September 13th.
In related news, CEO Vincent K. Mcmahon sold 1,547,372 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $19.32, for a total value of $29,895,227.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Casey Collins sold 11,071 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $20.21, for a total transaction of $223,744.91. Following the completion of the sale, the executive vice president now directly owns 37,956 shares of the company’s stock, valued at approximately $767,090.76. The disclosure for this sale can be found here.
An institutional investor recently raised its position in World Wrestling Entertainment stock. Schwab Charles Investment Management Inc. increased its position in shares of World Wrestling Entertainment, Inc. (NYSE:WWE) by 16.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,511 shares of the company’s stock after buying an additional 18,583 shares during the period. Schwab Charles Investment Management Inc. owned 0.17% of World Wrestling Entertainment worth $2,293,000 as of its most recent SEC filing.
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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