BTIG Research Raises World Wrestling Entertainment (WWE) Price Target to $36.00
World Wrestling Entertainment (NYSE:WWE) had its price objective raised by BTIG Research to $36.00 in a research note issued to investors on Monday, The Fly reports. They currently have a buy rating on the stock.
WWE has been the topic of several other reports. Zacks Investment Research raised World Wrestling Entertainment from a hold rating to a strong-buy rating and set a $28.00 target price on the stock in a report on Monday, October 30th. KeyCorp reaffirmed a hold rating on shares of World Wrestling Entertainment in a report on Tuesday, October 17th. Benchmark upped their price objective on World Wrestling Entertainment from $25.00 to $28.00 and gave the stock a buy rating in a report on Tuesday, October 31st. FBN Securities downgraded World Wrestling Entertainment from an outperform rating to a sector perform rating in a report on Monday, October 30th. Finally, Citigroup downgraded World Wrestling Entertainment from a buy rating to a neutral rating in a report on Friday, December 22nd. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. World Wrestling Entertainment has a consensus rating of Buy and a consensus target price of $30.43.
Shares of World Wrestling Entertainment (NYSE WWE) traded down $0.07 on Monday, hitting $31.80. The stock had a trading volume of 866,100 shares, compared to its average volume of 829,875. The firm has a market cap of $2,450.00, a P/E ratio of 69.13, a P/E/G ratio of 2.47 and a beta of 0.86. The company has a quick ratio of 2.62, a current ratio of 2.68 and a debt-to-equity ratio of 0.83. World Wrestling Entertainment has a fifty-two week low of $18.71 and a fifty-two week high of $33.28.
World Wrestling Entertainment (NYSE:WWE) last announced its earnings results on Thursday, October 26th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.20 by $0.08. The business had revenue of $186.40 million for the quarter, compared to the consensus estimate of $176.19 million. World Wrestling Entertainment had a return on equity of 17.05% and a net margin of 4.56%. World Wrestling Entertainment’s revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 EPS. sell-side analysts anticipate that World Wrestling Entertainment will post 0.58 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 26th. Shareholders of record on Friday, December 15th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.51%. The ex-dividend date was Thursday, December 14th. World Wrestling Entertainment’s dividend payout ratio is 104.35%.
In other World Wrestling Entertainment news, CEO Vincent K. Mcmahon sold 3,340,000 shares of the company’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $28.68, for a total transaction of $95,791,200.00. Following the transaction, the chief executive officer now owns 3,340,000 shares of the company’s stock, valued at approximately $95,791,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Blake Timothy Bilstad sold 1,801 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $26.40, for a total value of $47,546.40. The disclosure for this sale can be found here. 49.80% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Pinebridge Investments L.P. raised its position in shares of World Wrestling Entertainment by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,073 shares of the company’s stock valued at $104,000 after acquiring an additional 51 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of World Wrestling Entertainment during the 3rd quarter valued at $176,000. Piedmont Investment Advisors LLC bought a new stake in shares of World Wrestling Entertainment during the 3rd quarter valued at $201,000. FDx Advisors Inc. bought a new stake in shares of World Wrestling Entertainment during the 3rd quarter valued at $219,000. Finally, Summit Securities Group LLC bought a new stake in shares of World Wrestling Entertainment during the 3rd quarter valued at $236,000. Institutional investors own 49.75% of the company’s stock.
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.
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