Zacks Investment Research cut shares of World Wrestling Entertainment (NYSE:WWE) from a buy rating to a hold rating in a report published on Saturday morning.

According to Zacks, “World Wrestling Entertainment’s focus on increasing original content production, localization, subscriber growth, rise in TV rights fees and strategic initiatives have helped the stock to outperform the industry a year. Further, in the third-quarter fiscal 2017 the company not only reported better-than-expected results but also witnessed sharp increase in both the top and bottom lines. The company will continue to report record revenue growth as it has not only extended its earlier deal with different companies but also signed agreement with new service provider for airing its flagship program Raw and SmackDown in different countries. Management is optimistic about achieving another great year of revenues and adjusted OIBDA growth. However, continuous decline in pay-per-view and home entertainment revenues remains concerns.”

Several other research analysts have also commented on WWE. KeyCorp reiterated a hold rating on shares of World Wrestling Entertainment in a research note on Tuesday, October 17th. FBN Securities lowered shares of World Wrestling Entertainment from an outperform rating to a sector perform rating in a research note on Monday, October 30th. Benchmark boosted their price objective on shares of World Wrestling Entertainment from $25.00 to $28.00 and gave the stock a buy rating in a research note on Tuesday, October 31st. JPMorgan Chase & Co. started coverage on shares of World Wrestling Entertainment in a research note on Wednesday, December 6th. They set an overweight rating for the company. Finally, Citigroup lowered shares of World Wrestling Entertainment from a buy rating to a neutral rating in a research note on Friday, December 22nd. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. World Wrestling Entertainment presently has an average rating of Buy and an average price target of $35.57.

Shares of World Wrestling Entertainment (WWE) opened at $34.84 on Friday. World Wrestling Entertainment has a twelve month low of $19.12 and a twelve month high of $36.91. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.83 and a quick ratio of 2.62. The company has a market cap of $2,686.41, a PE ratio of 54.44, a PEG ratio of 2.58 and a beta of 0.93.

World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. The firm had revenue of $211.60 million during the quarter, compared to analyst estimates of $208.51 million. World Wrestling Entertainment had a net margin of 4.07% and a return on equity of 20.51%. World Wrestling Entertainment’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 EPS. sell-side analysts expect that World Wrestling Entertainment will post 0.68 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 1.38%. World Wrestling Entertainment’s payout ratio is 117.08%.

In other World Wrestling Entertainment news, CEO Vincent K. Mcmahon sold 3,340,000 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The shares were 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 in the company, valued at approximately $95,791,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 49.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. LS Investment Advisors LLC increased its stake in World Wrestling Entertainment by 31.6% during the 4th quarter. LS Investment Advisors LLC now owns 6,296 shares of the company’s stock valued at $193,000 after purchasing an additional 1,512 shares in the last quarter. Thrivent Financial For Lutherans increased its stake in World Wrestling Entertainment by 7.1% during the 2nd quarter. Thrivent Financial For Lutherans now owns 23,290 shares of the company’s stock valued at $474,000 after purchasing an additional 1,550 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in World Wrestling Entertainment by 6.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,110 shares of the company’s stock valued at $634,000 after purchasing an additional 1,846 shares in the last quarter. Victory Capital Management Inc. increased its stake in World Wrestling Entertainment by 6.5% during the 4th quarter. Victory Capital Management Inc. now owns 37,585 shares of the company’s stock valued at $1,149,000 after purchasing an additional 2,281 shares in the last quarter. Finally, FDx Advisors Inc. increased its stake in World Wrestling Entertainment by 25.5% during the 4th quarter. FDx Advisors Inc. now owns 11,688 shares of the company’s stock valued at $357,000 after purchasing an additional 2,372 shares in the last quarter. Institutional investors and hedge funds own 49.95% of the company’s stock.

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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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