ValuEngine Lowers World Wrestling Entertainment, Inc. (WWE) to Sell
ValuEngine cut shares of World Wrestling Entertainment, Inc. (NYSE:WWE) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.
A number of other analysts also recently weighed in on WWE. Morgan Stanley assumed coverage on World Wrestling Entertainment in a research note on Friday, June 30th. They issued an equal weight rating and a $23.00 price target on the stock. BTIG Research restated a buy rating and issued a $25.00 price target on shares of World Wrestling Entertainment in a research note on Sunday, April 2nd. Needham & Company LLC restated a buy rating and issued a $25.00 price target on shares of World Wrestling Entertainment in a research note on Tuesday, April 4th. TheStreet upgraded World Wrestling Entertainment from a c+ rating to a b- rating in a research note on Thursday, May 4th. Finally, Citigroup Inc. assumed coverage on World Wrestling Entertainment in a research note on Monday, March 27th. They issued a buy rating and a $25.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. World Wrestling Entertainment has an average rating of Hold and a consensus target price of $23.98.
World Wrestling Entertainment (NYSE WWE) opened at 20.68 on Tuesday. World Wrestling Entertainment has a 52 week low of $16.77 and a 52 week high of $23.14. The firm has a market capitalization of $1.58 billion, a P/E ratio of 76.59 and a beta of 0.82. The stock’s 50 day moving average price is $20.27 and its 200 day moving average price is $20.42.
World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings results on Thursday, May 4th. The company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.03. World Wrestling Entertainment had a net margin of 2.79% and a return on equity of 11.35%. The business had revenue of $188.40 million during the quarter, compared to analysts’ expectations of $183.41 million. During the same quarter last year, the firm earned $0.18 earnings per share. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities analysts expect that World Wrestling Entertainment will post $0.46 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Monday, June 26th. Investors of record on Thursday, June 15th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, June 13th. This represents a $0.48 annualized dividend and a yield of 2.32%. World Wrestling Entertainment’s dividend payout ratio is presently 184.62%.
A number of institutional investors have recently modified their holdings of the company. State Street Corp boosted its position in shares of World Wrestling Entertainment by 7.7% in the fourth quarter. State Street Corp now owns 756,551 shares of the company’s stock valued at $13,922,000 after buying an additional 54,238 shares in the last quarter. Capital Impact Advisors LLC boosted its position in World Wrestling Entertainment by 55.6% in the first quarter. Capital Impact Advisors LLC now owns 79,066 shares of the company’s stock worth $1,757,000 after buying an additional 28,266 shares during the period. Bbva Compass Bancshares Inc. boosted its position in World Wrestling Entertainment by 14.3% in the first quarter. Bbva Compass Bancshares Inc. now owns 22,789 shares of the company’s stock worth $506,000 after buying an additional 2,858 shares during the period. North Star Investment Management Corp. boosted its position in World Wrestling Entertainment by 3.3% in the first quarter. North Star Investment Management Corp. now owns 63,000 shares of the company’s stock worth $1,400,000 after buying an additional 2,000 shares during the period. Finally, Comerica Bank boosted its position in World Wrestling Entertainment by 9.8% in the fourth quarter. Comerica Bank now owns 40,814 shares of the company’s stock worth $795,000 after buying an additional 3,643 shares during the period. 49.64% of the stock is owned by hedge funds and other institutional investors.
World Wrestling Entertainment Company Profile
World Wrestling Entertainment, Inc (WWE) is an integrated media and entertainment company. The Company’s segments are Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, WWE Studios, and Corporate and Other. 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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