Shares of World Wrestling Entertainment, Inc. (NYSE:WWE) gapped up prior to trading on Friday after Benchmark raised their price target on the stock to $25.86. The stock had previously closed at $21.91, but opened at $20.96. World Wrestling Entertainment shares last traded at $21.92, with a volume of 995,687 shares trading hands.
Several other research firms have also recently issued reports on WWE. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price target on shares of World Wrestling Entertainment in a report on Thursday. Deutsche Bank AG reaffirmed a “sell” rating on shares of World Wrestling Entertainment in a report on Friday, October 28th. Wells Fargo & Company cut shares of World Wrestling Entertainment from an “outperform” rating to a “market perform” rating in a report on Friday, October 28th. Guggenheim began coverage on shares of World Wrestling Entertainment in a report on Thursday, January 12th. They set a “buy” rating and a $25.00 target price on the stock. Finally, Zacks Investment Research raised shares of World Wrestling Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, January 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $22.79.
Several institutional investors have recently added to or reduced their stakes in WWE. Majedie Asset Management Ltd raised its position in shares of World Wrestling Entertainment by 51.3% in the second quarter. Majedie Asset Management Ltd now owns 1,500,925 shares of the company’s stock worth $27,632,000 after buying an additional 508,611 shares in the last quarter. Lindsell Train Ltd raised its position in shares of World Wrestling Entertainment by 7.2% in the second quarter. Lindsell Train Ltd now owns 6,117,681 shares of the company’s stock worth $112,627,000 after buying an additional 410,000 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of World Wrestling Entertainment by 13.3% in the third quarter. BlackRock Fund Advisors now owns 2,495,495 shares of the company’s stock worth $53,154,000 after buying an additional 293,354 shares in the last quarter. Artemis Investment Management LLP raised its position in shares of World Wrestling Entertainment by 64.4% in the fourth quarter. Artemis Investment Management LLP now owns 581,345 shares of the company’s stock worth $10,699,000 after buying an additional 227,801 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of World Wrestling Entertainment by 305.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 199,266 shares of the company’s stock worth $3,666,000 after buying an additional 150,137 shares in the last quarter. Institutional investors and hedge funds own 47.58% of the company’s stock.
The company has a market capitalization of $1.68 billion, a PE ratio of 68.44 and a beta of 0.71. The stock’s 50-day moving average price is $19.30 and its 200 day moving average price is $19.55.
World Wrestling Entertainment (NYSE:WWE) last announced its quarterly earnings data on Thursday, February 9th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by $0.02. The company earned $194.90 million during the quarter, compared to analyst estimates of $180.29 million. World Wrestling Entertainment had a return on equity of 15.21% and a net margin of 4.64%. The company’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.04 EPS. Equities research analysts forecast that World Wrestling Entertainment, Inc. will post $0.56 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 27th. Investors of record on Wednesday, March 15th will be given a $0.12 dividend. The ex-dividend date of this dividend is Monday, March 13th. This represents a $0.48 annualized dividend and a yield of 2.18%. World Wrestling Entertainment’s dividend payout ratio (DPR) is currently 111.63%.
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World Wrestling Entertainment Company Profile
World Wrestling Entertainment, Inc (WWE) is a media and entertainment company. 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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