Loop Capital upgraded shares of World Wrestling Entertainment (NYSE:WWE) from a sell rating to a hold rating in a report issued on Monday morning, Benzinga reports. Loop Capital currently has $42.00 target price on the stock, up from their previous target price of $38.00.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC reiterated a buy rating and issued a $50.00 price target on shares of World Wrestling Entertainment in a research note on Friday, July 31st. Citigroup dropped their price objective on shares of World Wrestling Entertainment from $58.00 to $55.00 and set a buy rating on the stock in a research report on Tuesday, August 4th. Rosenblatt Securities increased their price objective on shares of World Wrestling Entertainment from $55.00 to $57.00 and gave the company a buy rating in a research report on Thursday, July 30th. Guggenheim increased their price objective on shares of World Wrestling Entertainment from $60.00 to $66.00 and gave the company a buy rating in a research report on Friday, July 31st. Finally, Zacks Investment Research raised shares of World Wrestling Entertainment from a hold rating to a strong-buy rating and set a $52.00 price objective on the stock in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $55.07.

Shares of WWE stock opened at $41.08 on Monday. The stock has a market cap of $3.20 billion, a P/E ratio of 24.60 and a beta of 1.44. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.29 and a quick ratio of 1.27. The company has a fifty day moving average price of $44.08 and a two-hundred day moving average price of $42.84. World Wrestling Entertainment has a one year low of $29.10 and a one year high of $76.44.

World Wrestling Entertainment (NYSE:WWE) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.37. The firm had revenue of $223.40 million during the quarter, compared to analysts’ expectations of $228.89 million. World Wrestling Entertainment had a net margin of 14.18% and a return on equity of 48.59%. As a group, equities research analysts anticipate that World Wrestling Entertainment will post 1.55 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 15th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Monday, September 14th. World Wrestling Entertainment’s dividend payout ratio is 56.47%.

A number of large investors have recently added to or reduced their stakes in WWE. Eminence Capital LP bought a new position in World Wrestling Entertainment during the first quarter worth about $56,759,000. Cadian Capital Management LP increased its holdings in World Wrestling Entertainment by 14.9% in the 2nd quarter. Cadian Capital Management LP now owns 3,723,449 shares of the company’s stock valued at $161,784,000 after buying an additional 483,449 shares during the period. Balyasny Asset Management LLC bought a new position in World Wrestling Entertainment in the 1st quarter valued at about $10,073,000. Victory Capital Management Inc. increased its holdings in World Wrestling Entertainment by 245.2% in the 1st quarter. Victory Capital Management Inc. now owns 412,524 shares of the company’s stock valued at $13,997,000 after buying an additional 293,036 shares during the period. Finally, APG Asset Management N.V. bought a new position in World Wrestling Entertainment in the 1st quarter valued at about $20,388,000. 67.50% of the stock is currently owned by institutional investors and hedge funds.

About World Wrestling Entertainment

World Wrestling Entertainment, Inc, an integrated media and entertainment company, engages in the sports entertainment business in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It operates in three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form media content across various platforms, including WWE Network, pay television, and digital and social media, as well as filmed entertainment.

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Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

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