Guggenheim Analysts Give World Wrestling Entertainment (WWE) a $40.00 Price Target
Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. began coverage on shares of World Wrestling Entertainment in a research report on Wednesday, December 6th. They set an overweight rating on the stock. Citigroup cut shares of World Wrestling Entertainment from a buy rating to a neutral rating in a research report on Friday, December 22nd. Needham & Company LLC reiterated a buy rating and set a $25.00 price objective on shares of World Wrestling Entertainment in a research report on Tuesday, September 26th. Wells Fargo & Co upgraded shares of World Wrestling Entertainment from a market perform rating to an outperform rating in a research report on Thursday, January 4th. Finally, BTIG Research lifted their price objective on shares of World Wrestling Entertainment to $36.00 and gave the company a buy rating in a research report on Monday, January 8th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $30.43.
Shares of World Wrestling Entertainment (NYSE WWE) traded up $0.34 during trading hours on Thursday, reaching $32.18. 690,729 shares of the company’s stock traded hands, compared to its average volume of 814,076. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.68 and a quick ratio of 2.62. World Wrestling Entertainment has a twelve month low of $18.71 and a twelve month high of $33.28. The stock has a market capitalization of $2,480.00, a P/E ratio of 69.96, a P/E/G ratio of 2.53 and a beta of 0.86.
World Wrestling Entertainment (NYSE:WWE) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.08. World Wrestling Entertainment had a net margin of 4.56% and a return on equity of 17.05%. The business had revenue of $186.40 million for the quarter, compared to the consensus estimate of $176.19 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. research analysts expect that World Wrestling Entertainment will post 0.58 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 26th. Stockholders of record on Friday, December 15th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Thursday, December 14th. World Wrestling Entertainment’s payout ratio is currently 104.35%.
In related news, SVP Blake Timothy Bilstad sold 1,801 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $26.40, for a total value of $47,546.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vincent K. Mcmahon sold 3,340,000 shares of the business’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 completion of the sale, the chief executive officer now owns 3,340,000 shares in the company, valued at approximately $95,791,200. The disclosure for this sale can be found here. Company insiders own 49.80% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in WWE. Schwab Charles Investment Management Inc. increased its position in World Wrestling Entertainment by 13.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 170,440 shares of the company’s stock worth $3,472,000 after purchasing an additional 20,685 shares during the last quarter. Rhumbline Advisers increased its position in World Wrestling Entertainment by 3.8% in the second quarter. Rhumbline Advisers now owns 73,703 shares of the company’s stock worth $1,501,000 after purchasing an additional 2,698 shares during the last quarter. Legal & General Group Plc increased its position in World Wrestling Entertainment by 8.5% in the second quarter. Legal & General Group Plc now owns 69,376 shares of the company’s stock worth $1,415,000 after purchasing an additional 5,438 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in World Wrestling Entertainment by 51.9% in the second quarter. BNP Paribas Arbitrage SA now owns 11,798 shares of the company’s stock worth $240,000 after purchasing an additional 4,029 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in World Wrestling Entertainment by 8.1% in the second quarter. Victory Capital Management Inc. now owns 28,026 shares of the company’s stock worth $571,000 after purchasing an additional 2,094 shares during the last quarter. 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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